Economics

2024-11-19

More than one in three children in poverty as UK deprivation hits record high: Along with a quarter of adults.

2024-11-17

To turn Britain around, we need a proper understanding of life for poorer workers: Plagued by ill health and the cost of living crisis.

2024-11-15: Trump's victory added $27 billion dollars to the wealth of the 10 richest people in the world

2024-11-11: Trump’s election promises weren’t only meaningless because they were almost certainly …

2024-11-10

What happened to Bhutan’s ‘kingdom of happiness’?: Sadly even the country that pioneered measuring Gross National Happiness has its own problems.

2024-11-05: Some publications aren't afraid to endorse Harris, and do better for it

2024-11-01

Reeves’s £40bn tax rises will boost growth ‘sustainably’, says IMF: The IMF supports Labour’s new budget, which means it’s probably nowhere near radical enough for my tastes.

2024-10-31

Budget 2024: key points at a glance: Bullet-point summary of this government’s first budget; at first sight feels to me like the right direction

2024-10-24

Pluralistic: The housing crisis considered as an income crisis: ‘The American rich are the Spiders Georg of house prices.’

2024-10-23

Ed Newton-Rex, who organised the recent anti AI ingesting everyone’s work for free statement that artists of all sorts of fame levels are signing makes a good point.

There are three key resources that generative AI companies need to build AI models: people, compute, and data. They spend vast sums on the first two - sometimes a million dollars per engineer, and up to a billion dollars per model. But they expect to take the third - training data - for free.

Big tech AI companies aren’t stingy with their money for everything. That’s one reason why they’re so unprofitable. It’s just that magic third ingredient that often attracts the $0 compensation rate.

New commission may ban English water companies from making a profit: Good: water is both a life essential and a natural monopoly, normal rules of capitalism cannot apply.

2024-10-21

All What Is Delicious to Man: Today’s implausible vision of superabundance is a lot grimmer than the one that they were promised in the 1830s.

2024-10-20

The Subprime AI Crisis: Ed Zitron worries about what happens when the unprofitability of the current generative AI business becomes unsustainable.

2024-10-19

The Shareholder Supremacy: One of the many original sins of modern-day capitalism was when we decided companies should focus on pleasing their shareholders rather than their customers.

The Other Bubble: Why “Software as a Service” (SaaS) products - especially the enterprise-oriented offerings - often end up being so awful.

2024-10-18

The Return of the Deniers and the Revenge of Patoshi: One of the analyses that suggest that the creator of Bitcoin owns around 1.1 million of them.

2024-10-18: TIL: Thanks to the innate lack of privacy that the technology has, whilst we might not know who …

2024-10-07: Google's creators envisaged that advertising-funded search engines are a bad idea (but made one anyway)

2024-10-04: 📚 Finished reading The Age of Surveillance Capitalism by Shoshana Zuboff.

2024-10-01

Is UK maternity pay excessive and how much does it cost the taxpayer?: No, it’s nowhere near ‘excessive’.

2024-09-21

The case for public funding of UK political parties: One possible alternative to the current system of most funding coming from donors.

Almost half of UK political donations come from private wealthy ‘super-donors’: Maybe letting very wealthy people effectively buy elections isn’t exactly ideal for democracy.

2024-09-07: Fake streamers listening to fake music by fake artists on Spotify allegedly made a single fraudster at least $10 million

2024-08-22: The IFS's interactive 'impact of tax and benefit changes' tool shows the cruel impact of the post-2010 tax and benefit changes

2024-08-01: Once again, managing a government budget is not like managing a household budget