124 Matching Annotations
  1. Last 7 days
  2. Jun 2020
    1. McBride, O., Murphy, J., Shevlin, M., Gibson Miller, J., Hartman, T. K., Hyland, P., Levita, L., Mason, L., Martinez, A. P., McKay, R., Stocks, T. V. A., bennett, kate m, Vallières, F., Karatzias, T., Valiente, C., Vazquez, C., & Bentall, R. (2020). An overview of the context, design and conduct of the first two waves of the COVID-19 Psychological Research Consortium (C19PRC) Study [Preprint]. PsyArXiv. https://doi.org/10.31234/osf.io/z3q5p

    1. Guan, D., Wang, D., Hallegatte, S., Davis, S. J., Huo, J., Li, S., Bai, Y., Lei, T., Xue, Q., Coffman, D., Cheng, D., Chen, P., Liang, X., Xu, B., Lu, X., Wang, S., Hubacek, K., & Gong, P. (2020). Global supply-chain effects of COVID-19 control measures. Nature Human Behaviour, 1–11. https://doi.org/10.1038/s41562-020-0896-8

  3. May 2020
  4. Apr 2020
  5. Feb 2020
    1. Robinson Crusoe’s experiences are a favourite theme with political economists

      Marx refers to the thought experiment, common in economics, which is sometimes called Robinson Crusoe economics.

      Doing "Robinson Crusoe economics" consists in imagining what can be learned, if anything, from a one agent economy that will provide insight into a real world economy with lots of agents.

    2. According to Eschwege, the total produce of the Brazilian diamond mines for the eighty years, ending in 1823, had not realised the price of one-and-a-half years’ average produce of the sugar and coffee plantations of the same country, although the diamonds cost much more labour, and therefore represented more value.

      Diamonds were first discovered in Brazil in 1729 near the city of Belo Horizonte. This started a diamond rush and a period of feverish migration of workers.

      Major diamond rushes also took place in the late 19th and early 20th centuries in South Africa and South-West Africa.

      Diamond rushes, like gold rushes or other types of rushes, are for Marx economic bubbles or asset bubbles (sometimes referred to today as speculative bubbles, market bubbles, price bubbles, financial bubbles, speculative manias, or balloons).

  6. Jan 2020
  7. Dec 2019
    1. should reject the influence of both liberal capitalism and communism, ideas that inspired the revolutionary slogan "Neither East, nor West – Islamic Republic!"

      In a post cold-war world, viewed in increasing binaries of left and right winds be it social liberal - conservative or socialist-capitalist tendancies, it seems incomprehensible as to how one can reject both USA's and Soviet's socio-economic models. I'm curious to know how they organize their economy in this case.

      One part why the western world hates the Islamic revolution might be their lack of understanding about this exact phrase, other than the fact that Iran became a theocracy.

  8. Oct 2019
  9. Mar 2019
    1. And it’s a contributor to the emergence of an integrated social science to understand human decision-making.

      Again, economics is less a "thing". It's merging with other social and policy science.

    2. the basic tenets of economic theory still provide a solid foundation

      What are the basic tenets? If we are challenging all aspects of economic theory (rationality, perfect knowledge, static models, profit-maximization...) then what are the basic tenets that remain unchanged?

      How is economics, with all these diverse faces, different from population health? Both can include all the same forces. It's only that the latter focuses on health as a key outcome.

    3. The pioneer of behavioral economists was Herbert Simon, who developed the notion of bounded rationality, namely that an individual is rational, but that their ability to compute, assess, and decide are limited especially given constraints on time to make a decision.
  10. Nov 2018
    1. “It doesn’t just help make hospitalists work better. It makes nursing better. It makes surgeons better. It makes pharmacy better.”
    2. “This has all been an economic move,” she says. “People sort of forget that, I think. It was discovered by some of the HMOs on the West Coast, and it was really not the HMOs, it was the medical groups that were taking risks—economic risks for their group of patients—that figured out if they sent … primary-care people to the hospital and they assigned them on a rotation of a week at a time, that they can bring down the LOS in the hospital. “That meant more money in their own pockets because the medical group was taking the risk.” Once hospitalists set up practice in a hospital, C-suite administrators quickly saw them gaining patient share and began realizing that they could be partners. “They woke up one day, and just like that, they pay attention to how many cases the orthopedist does,” she says. “[They said], ‘Oh, Dr. Smith did 10 cases last week, he did 10 cases this week, then he did no cases or he did two cases. … They started to come to the hospitalists and say, ‘Look, you’re controlling X% of my patients a day. We’re having a length of stay problem; we’re having an early-discharge problem.’ Whatever it was, they were looking for partners to try to solve these issues.” And when hospitalists grew in number again as the model continued to take hold and blossom as an effective care-delivery method, hospitalists again were turned to as partners. “Once you get to that point, that you’re seeing enough patients and you’re enough of a movement,” Dr. Gorman says, “you get asked to be on the pharmacy committee and this committee, and chairman of the medical staff, and all those sort of things, and those evolve over time.”
  11. Oct 2018
  12. allred720fa18.commons.gc.cuny.edu allred720fa18.commons.gc.cuny.edu
    1. Canton

      Voyage of the Empress of China, 1784. See this site for a detailed history of early US-China trade.

      A passage in Chapter 1 of Moby Dick describes a vigorous trade with the far East: “Posted like silent sentinels all around the town, stand thousands upon thousands of mortal men fixed in ocean reveries … some looking over the bulwarks of ships from China.”

      However, trade between China and the U.S. commenced in 1784, just after the Treaty of Paris was ratified; by 1799, when Benito Cereno is set, it would still have been a relatively young trading relationship, especially considering the lengthy sea voyages required.

      Principal commodities exchanged included the items mentioned by Capt. Delano (silks, sealskins, coin (specie), as well as ginseng tea, porcelain "China ware," lead, and cotton goods.<br> A.D. Edwards, Empress of China at Mart's Jetty, Port Pirie, 1876

      -- Robert Bennet Forbes, Remarks on China and the China Trade. Samuel N. Dickinson, printer, 1844.

  13. Sep 2018
    1. Not only is the notion that OER-sustainability is the responsibility of the end-user pragmatically unnecessary, it also places barriers to adoption that will inhibit rather than encourage future use.

      This is certainly true. It reminds me of the early historical growth of the Catholic church. Paul of Tarses came in and relaxed the dietary restrictions and the need for circumcision which effectively lowered the barrier for entry into the church. One needn't be a Jew to be a follower of Jesus; this helped early growth tremendously.

  14. Aug 2018
    1. Nevertheless, the evidence suggests that social capital and social institutions are significant predictors of economic growth, after controlling for the effects of human capital and initial levels of income (Knack and Keefer 1997), (Knack 2002).4 So trust is a relevant dimension of social interactions that has been connected to individual dyads, network formation, labor markets, and even economic growth.
  15. Jul 2018
  16. Nov 2017
    1. raq remains a destabilising influence to... the flow of oil to international markets from the Middle East. Saddam Hussein has also demonstrated a willingness to threaten to use the oil weapon and to use his own export programme to manipulate oil markets. This would display his personal power, enhance his image as a pan-Arab leader... and pressure others for a lifting of economic sanctions against his regime
    1. Moreover, a large percentage of Germany’s working-age men were dead. At the time, observers thought that West Germany would have to be the biggest client of the U.S. welfare state; yet, twenty years later its economy was envied by most of the world. And less than ten years after the war people already were talking about the German economic miracle.
  17. Apr 2017
    1. The lure of a reindeer herding community was simple: the economic independence of herding, which was inherent in the Nenet community’s cultural practices, would serve as a fascinating study on the interplay between the lifestyle of an indigenous community and the ability for external forces to disrupt that lifestyle.

      The genesis of reindeer herding carries intimate ties to the development and cultural realization of reindeer herding, as well as provide context for its eventual economic utility. The extensive presence of reindeer in Arctic regions serves as an initial observation towards their significance: today, approximately 3 million wild reindeer and 2 million domesticated reindeer exist, many of whom serve as the foundation of various indigenous communities. Over time, the relationship between reindeer and people has resulted in a “social contract” (Vitebsky, 27). The process of a mutually beneficial relationship, where materials are provided to the human and a subsequent dependency on domestication by the reindeer arises, the reindeer-human bond is formed and culturally embraced. This resulted in the emergence of the centrality of practices by herding community around the reindeer, including the ability to ride reindeer for transportation and the utilization of furs and antlers for communal clothing and materials. In today’s environment, these practices serve as the backbone for economic trade and commercialization of reindeer products and delicacies.

      For more information on the history of reindeer herding as a central economic practice, refer to chapter 1 of Reindeer People. For more information on economic development, read

      Piers Vitebsky, Reindeer People: Living with Animals and Spirits in Siberia (London: Harper Collins Publishers, 2005).

  18. Mar 2017
    1. As every good CMCer with an understanding of economics should know, those with terminal illnesses are resource sinks for society. End of life care is incredibly expensive due to the frequency of hospitalizations, the increased need for specialists’ attention, etc. Those with terminal illnesses have even more expensive health care needs. Obviously, those in the final stages of a terminal illness are no longer in any position to contribute economically to society. Their continued existence may be personally meaningful to the those who love them, but from a economic perspective they are all cost and no benefit.

      Obviously based on economic perspective. Compared to opposite statement, it's lack of human right, moral such concept and take a look at the economic benefit directly.

  19. Jan 2017
  20. Nov 2016
    1. Sharing economy can be defined as the socio-economic system which is used to describe the social and economic activities. Shared economy is also known as peer economy, collaborative consumption or share economy.http://blog.selectmytutor.co.uk/shared-economy-and-millennial-changing-the-startup-scene-in-the-uk/

  21. Oct 2016
    1. The resource-based economy goes like this: In the future robots will do all the jobs (including creating new robots and fixing broken one). Now, imagine the world is like a public library, where you can borrow any book you want but never own it. Fresco wants all enterprise like this, whether it’s groceries, new tech, gasoline, or alcohol. He wants everything free and eventually provided to us by robots, software, and automation.

      I think this is achievable, if we emphasize specialized libraries and cooperative models around resources (i.e. tool/tech libraries, food banks/co-ops)

  22. Jun 2016
  23. Apr 2016
    1. The city of Detroit faces a catch-22: It must modernize to attract residents, but in order to modernize, it needs residents as a tax and community base.

      That is the premise of Bill Adler’s article for Grist, which takes Detroit’s conundrum a step further in recognizing an important trend for growth: Going green.

      Adler compares Detroit to other cities across the country, including Portland, Oregon, in analyzing how Detroit can grow and attract more residents, in particular Millennials — the new young urban professional.

      Detroit’s weather, crime rate, lack of adequate emergency services, high tax rates, and lack of transportation — among other things —conspire to keep the city unattractive. So how to change that?

      Greening is important, Adler writes. Part of that is urban density, now recognized as an environmental good for reducing carbon emissions. Detroit has a density of about 5,100 people per square mile, closer to suburban-style cities like San Jose than it is to other industrial-era cities, like Chicago (12,000) or Washington, D.C. (10,000). Its current density is slightly higher than Portland, Oregon, which has been recognized for its urban planning and its attractiveness to Millennials and entrepreneurs.

      Detroit has existing infrastructure to support greater density, and can do more — expanding public transportation, investing in urban neighborhoods like Midtown and Corktown, expanding renewal efforts to other potentially up-and-coming areas, and turning itself into an incubator or business hub for certain business segments, such as biotechnology — could help the city become attractive to new residents.

      Residents also need jobs, and Detroit does have them, with 232,000 existing jobs and just 169,000 employed Detroit residents. The problem there is that many of Detroit’s high income workers commute into the city from suburbs, while Detroit’s urban poor commute out for minimum-wage positions. Further, the city’s transportation structure is car-centric due to its early years, and it is behind the times in implementing public transit.

      Detroit does have one thing in stock that could be very attractive to home buyers: Architecture. The city has Tudors and Italianate and Romanesque Revival mansions in stock and for sale. However, the surplus of beautiful homes is actually another detriment, right now, as homes are bulldozed lest they become a magnet for crime or fire hazards.

      All hope is not lost, Adler writes, noting that other cities (he calls them Legacy cities) facing similar problems have managed to bounce back, or are in the process of doing so, among them Chicago, Baltimore, St. Louis, and Brooklyn.

      But first, Detroit needs to figure out how to bring in people who want to live in the urban core, and provide them with the services necessary to stay.

  24. Mar 2016
    1. Richard B. Freeman and colleagues [28] havecharacterized the problem as follows: ‘‘Research in the biosciences fits a tournamenteconomic structure. A tournament offers participants the chance of winning a bigprize—an independent research career, tenure, a named chair, scientific renown,awards—through competition.... It fosters intense competition by amplifying smalldifferences in productivity into large differences in recognition and reward. Well-structured tournaments stimulate competition. Because the differences in rewardsexceed the differences in output, there is a disproportionate incentive to ‘win’’’(p.2293). Research environments in which only small numbers of scientists have theopportunity to gain significant attention increase the competitive stakes: playing thegame may be a gamble, but the payoff for winning is significant [28,36]

      The tournament structure of biosciences.

  25. Nov 2015
    1. Detroit may be America’s largest broke city; it may have experienced tremendous population and job loss — but against the odds, there are still people who want to move to this former industrial hub.

      This long feature story and series of personality profiles in the Detroit Free Press identifies five specific types of people moving into Motor City: Urban explorers, property seekers, native sons and daughters, entrepreneurs, and empty nesters.

      This article profiled individuals who fit all of those categories in trying to create a picture of what Detroit is now, post-bankruptcy filing, and the kinds of people dedicated to bringing it back.

      One pair of entrepreneurs moved to Detroit to open a restaurant, planning to capitalize on Detroit’s local food and urban agriculture movements. Deveri Gifford said: "The DIY attitude is what we really loved about the city. The fact that the city is broke really contributes to that DIY attitude because there's this perspective of 'No one else is going to do this, so if I see a problem I'm just going to fix it.' "

      Another couple is moving home to Detroit, where they both went to high school. Although they’ve lived elsewhere, they wanted to return home and be part of the rebuilding effort in their city. One works for Teach for America, and the other is in manufacturing.

      Retiree Maria Urquidi saw an opportunity to be part of the change in the city, and help it come back. She liked the idea of “coming up with brand new solutions” to fix problems. Detroit was also a much more affordable option for Urquidi, who worked in New York state. She was also attracted to the city’s architecture, and multitude of available, beautiful homes.

      Lesley Daley, a Londoner, was also attracted to the city’s architecture, and its history. Daley called the city “a secret” and said that she has not experienced many of the negatives perceived by outsiders, such as packs of stray dogs.

      Other people had varying reasons for moving to Detroit — from civic duty to a sense of opportunity and a desire to be closer to the urban core. They have experienced negatives — one couple had their car stolen, crime is a problem, and social services are lacking. But this group overwhelmingly says their experiences have been positive, and feel it is a good moment to influence change.

      One young mother, who boomeranged back to the city after college, said she sees opportunity for her child.

      "… He sees a lot of things he shouldn't be exposed to, especially at such a young age. But what I'm going to instill in him is that you have the power to change this. Are you going to be the one to complain about this, or are you going to be the one to change this?" she said.

      Edit: Although this is a personality profile/feature piece and not a hard policy topic, it is important to our group's work in that by identifying the people who are moving to the city, we can isolate some potential policy areas to emphasize as recommendations for Detroit. For example, the restaurant-owning couple values urban and local agriculture. The city can then implement policies to foster that culture, and with those policies in place potentially attract more people. By recognizing the values and priorities of potential residents, the city can shape its policy to be more attractive.

    1. G.Nelson

      In their article, “Cartographies of Race and Class: Mapping the Class-Monopoly Rents of American Subprime Mortgage Capital,” Elvin Wyly, Markus Moos, Daniel Hammel, and Emanuel Kabahizi illustrate that in order to understand the subprime housing crisis of twenty-ought, one needs to understand the structural inequalities of class-monopoly rent. The understanding of class-monopoly rent has not gone away, but has shifted from a local landlord to an international landlord that regulates the renter upon the predatory practices of subprime lending. Variable rates, expensive fees, and asymmetrical information controls the tenants, like that of the 1960s land-installment contracts.

      The group quickly illustrates the process of creating and packaging subprime loans. A bank or mortgage company to a borrower draws up a mortgage; that loan is quickly sold off to a Government Sponsored Enterprise (GSE); in return, the bank or mortgage company receives cash to make more loans. The original loan is, then, pooled into Collateralized Debt Obligations (CDOs) and Mortgage Backed Securities (MBS) –which are backed by Wall Street Investment Banks—and are sold around the world to various public and private institutions. The group highlights that at the time of rising home prices, the risk of a default is limited and the financial impact on the bond (MBSs and CDOs) is relatively mute. The bank could force a new mortgage, and the equity that was in the home would go to generate more income for the bank or, essentially, drop the homeowner and force them to become a renter.

      In 1995, the Subprime markets accounted for $65 billion, but by 2006, the markets mushroomed to $625 billion. In 2007 a rush of delinquencies, defaults, and foreclosures, along with decreasing home values, created a credit crunch in the economy and chipped away at the confidence of the investors of MBSs and CDOs. This left the U.S. government vulnerable in which the Federal Reserve took dramatic action to buy up MBSs and of unknown values and government bonds to free up banks’ balance sheets.

      Instead of taking blame within the financial markets, industry-defenders blamed the imperfect markets, the consumers for taking out more than they could manage, and the attempt by institutions to help more individuals then the markets could handle. The group illustrates, however, that institutionalized racial inequality because of credit-worthiness and lending practices are to blame for the systemic credit crunch of the twenty-ought.

      Risk-based pricing --a theory that determines that an individuals ability to borrow and at what rate—has been the basis philosophy of financial markets of the last twenty years. However, the group illustrates how the philosophy has come under attack recently, and provides anything but the rosey picture that it once promised. The theory only deters moneylenders from lending to minorities and low-income individuals by providing a justification of denial to entry.

      A social problem of the lack of access to homeownerships for the “underserved” (minorities and low-income individuals) gradually brought about State and Federal regulations and programs to assist homeownership for the underserved. Within the 1960s, for minorities to build up credit worthiness and equity for a bank to justify a mortgage --even if the minority already had the sufficient income to justify a mortgage—the minority would utilize a land-installment contract. This path towards homeownership often carried higher premiums. Within the 1980s, a series of laws made specific types of loans and lenders exempt from regulatory practices (337). Through the 1990s, federal and state regulators maintained the effort of providing traditional mortgages to the underserved, but at the turn of the century, small lending firms, which were backed by Wall Street, began to provide loans that were not restricted by state and federal regulations. Asymmetrical information, lack of knowledge by the consumers, led many to believe that this is the only way for them to own a home. These small lending firms were bought up by national banks and accounted them as subsidiaries, which allowed the bank to carry the exempt status in its subsidiary firm and continue the predatory practices, but now at this time, in a much grander scale. The loan restriction of the 1960s –which stems from racism-- has only transformed itself back to loan restrictions of today because of the predatory lending that is justified by the risk-based pricing theory.

      I am illustrating the foresaid points of the article in my annotation to emphasize the foundation of racial-lending practices that span decades within the U.S. financial system. This will be imperative to tie into the financial credit crisis of 2008, and how municipalities suffered from this sort of practice.<br> G.Nelson

    1. “Can Detroit Rebuild Its Middle Class?” from the National Journal, Tim Alberta (2014) http://www.nationaljournal.com/next-economy/america-360/can-detroit-rebuild-its-middle-class?mref=scroll

      In this fascinating article by Tim Alberta (2014) from the National Journal, there is a focus on rebuilding the middle class of Detroit with the image of diversity and self-sustainability. The underlying ideology is that a strong middle class is the key to a thriving city. There are currently 2 Detroit’s: one that portrays a downtown revival with new condos, business, and breweries, and the other that resembles a “zombieland,” completely lacking inhabitants (Alberta, 2014). Alberta (2014) says that the city’s biggest problem is a lack of residents. People are needed to build the middle class and restore the economy. Even though there is a boom of new businesses, it has not been enough to draw people to live in the depressed and abandoned neighborhoods. Reasons that young and educated workers do not want to live in Detroit is because crime is off the charts, the public school system is one of the worst in the nation, and the city’s public services are significantly lacking (Alberta, 2014).

      The rebuilding attempts that are taking place are multi-faceted. City and state officials are trying to rebuild the middle class by luring educated, professional immigrants to the area. Non-profits are working to retain the graduates of Michigan’s universities. Additionally, non-profits are providing job-training and connecting employees with in-demand industries. Business organizations and coalitions are diversifying and trying to destigmatize Detroit as a manufacturing only city. Rebranding the city is considered an especially important step (Alberta, 2014). Doing this will reinforce the importance of education that was once not unnecessary to get a manufacturing job in the city. Millions in investment dollars are going into technology and the energy industry to attract a young and diversely educated workforce. “To build a long-term economic base, Detroit, like a low budget baseball team, must develop and retain homegrown talent” (Alberta, 2014). Once the middle-class is stronger, more money will be available for governmental services like schools and public works, and the city will fully start to heal.

    1. Breunig, C., Koski, C., & Mortensen, P. B. (2009). Stability and punctuations in public spending: A comparative study of budget functions. Journal of Public Administration Research and Theory, 20:703-722.

      This article published in the Journal of Public Administration Research and Theory by Breunig, Koski, and Morentsen presents a longitudinal study of stability and punctuations of public spending in the United States and Denmark. Breunig et al apply Baumgarnter and Jones’ disproportionate information processing model as a theoretical basis for this research. (The disproportionate information processing model was presented in 2005 by Baumgartner and Jones as a more general model of their punctuated equilibrium model/theory). In addition to the two countries being compared in this quantitative study, the spending patterns across different subcategories of public budgets in the areas of health, education, transportation, military, etc. are analyzed (Brenig et al, 2009). Their findings align with what Baumgartner and Jones predicted would occur universally with spending punctuations; “political decision makers either ignore or overact to information signals from their surroundings. This results in a distinct pattern of both stability and punctuated change in policy outputs often measured in terms of public spending indices” (Brenig et al, 2009, p. 704). A pattern of kurtosis was reflected across multiple subcategories of public budgets in both countries. Kurtosis is represented in a diagram as long periods of flat, incremental change with sharp punctuations that spike rapidly and then quickly return to equilibrium (Brenig et al, 2009).

      The usefulness of this study in looking at the situation in Detroit, Michigan and its fiscal crisis is that it helps explain the unprecedented fiscal punctuation that occurred in 2013. Because the policy makers did not make the small, incremental changes to respond to the changing demographics and economic environment that affected the city’s budget subcategories, the largest municipal bankruptcy in US history occurred. Who knows if the crisis could have been averted? However, punctuated equilibrium theory does help us understand why. The data presented in this article by Breunig et al (2009) reminds me of a pressure cooker; if the incremental changes do not occur- to let off steam, then there will be an explosion. This article also made me realize that a good way to study public policy is through budgetary punctuations; these punctuations are either the result of an overreaction or poor planning on the part of policy makers.