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Posts Tagged ‘economics’

IPOs have sent Uber and Lyft fares skyrocketing, while driver pay plummets

The public markets are hungry: as Uber and Lyft look to IPOs to let their investors -- who have been subsidizing 40-50% of every ride -- redeem their shares through sales to the public capital markets, the companies are desperate for ways to reduce their unprofitability and increase those share prices.

Luckily for them, the rideshare ...

Brexit is cratering London house prices

The Royal Institution of Chartered Surveyors' latest UK house price survey blames Brexit for continued declines in property prices in London and the southeast, "the worst slump since the financial crisis," with far more supply than demand. (via ***** Capitalism) Read the rest

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The strange tale of Runescape’s Communist republic

In 2007, a group of players in Runescape -- once billed as the world's most-played massively multiplayer game -- declared a Communist republic on Gielinor's Server 32, amid a revolution that saw 5,000 characters killed off in the fighting.

The Gielinor republic established town councils who sent deputies to a people's parliament who advised a ...

Millennials are killing McMansions

It all seemed so innocent when architecture grad student Kate Wagner started pushing her charming brand of millennial snark on us with her acerbic critiques of gaudy, poorly executed monster homes, but architecture is no laughing matter.

The Wall Street Journal has sounded the alarm that boomer-built McMansions in Arizona, Florida, and the ...

China’s “**** shops” have loaned $43B, mostly secured by real-estate

In reports of China's looming debt crisis, it's common to see references to the "shadow finance" or "shadow banking" system, but it's not always clear what these terms mean.

One concrete -- and growing -- example of the shadow banking system is the Chinese "****-shop" industry, who have $43B in outstanding loans, mostly ...

A thorough defense of Modern Monetary Theory

"First they ignore you, then they laugh at you, then they fight you, then you win" -- Gandhi's aphorism neatly describes the trajectory to date of Modern Monetary Theory, the latest incarnation of "chartalism," which holds that money comes into existence through government spending, and is taken out of circulation when the government taxes ...

Trump made history: introducing tax cuts made him LESS popular

Politicians love introducing tax-cuts, because they're reliable vote-getters, even if they're structured to blow up later by giving massive breaks to the super-rich and more modest breaks to middle-class voters, resulting in mounting deficits and eventual service cuts.

But Trump has managed the impossible: he signed trillions of dollars of tax-cuts into law and lost ...

Signs that China’s real-estate bubble will burst and take the economy with it

China's real-estate bubble is the largest in human history, and despite years of warning signs, it has grown and grown, spilling over into the rest of the world.

It's hard to overstate just how crazy China's real-estate market is: 25% of the country's GDP comes from construction, and 80% of the nation's ...

Thomas Piketty explains how Elizabeth Warren’s wealth tax is American as apple pie

Last month, Democratic presidential hopeful Elizabeth Warren proposed an annual tax on the largest fortunes in America, with some of the cash generated by the tax being funneled into the IRS to catch dodgers who move or hide their money to escape the tax.

The Warren proposal was modelled on the work of French economist ...

Bill Gates debates Alexandria Ocasio-Cortez ‘tax the rich’ policy

Microsoft co-founder Bill Gates made some comments this week on the 'tax the rich' ideas making the rounds in America.

Taxing the rich is fine, he said in an interview with The Verge, and "more progressive" taxes on the ultra rich are okay.

Gates then went on to characterize Alexandria Ocasio-Cortez as an 'extreme' politician ...