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" Fearless commentary on finance, economics, politics and power Follow yvessmith on Twitter Feedburner RSS Feed RSS Feed for Comments Subscribe via Email SUBSCRIBE Recent Items Links 3/11/17 - 03/11/2017 - Yves Smith Deutsche Bank Tries to Stay Alive - 03/11/2017 - Yves Smith John Helmer: Australian Government Trips Up Ukrainian Court Claim of MH17 as Terrorism - 03/11/2017 - Yves Smith 2:00PM Water Cooler 3/10/2017 - 03/10/2017 - Lambert Strether Why a 400-Year Program of Modernist Thinking is Exploding - 03/10/2017 - Yves Smith Links 3/10/17 - 03/10/2017 - Yves Smith Why It Will Take a Lot More Than a Smartphone to Get the Sharing Economy Started - 03/10/2017 - Yves Smith CalPERS' General Counsel Railroads Board on Fiduciary Counsel Selection - 03/10/2017 - Yves Smith Another Somalian Famine - 03/10/2017 - Yves Smith Trade now with TradeStation - Highest rated for frequent traders Why a 400-Year Program of Modernist Thinking is Exploding Posted on March 10, 2017 by Yves Smith By Lynn Parramore, Senior Research Analyst at the Institute for New Economic Thinking. Originally published at the Institute for New Economic Thinking website Across the globe, a collective freak-out spanning the whole political system is picking up steam with every new "surprise" election, rush of tormented souls across borders, and tweet from the star of America's great unreality show, Donald Trump. But what exactly is the force that seems to be pushing us towards Armageddon? Is it capitalism gone wild? Globalization? Political corruption? Techno-nightmares? Rajani Kanth, a political economist, social thinker, and poet, goes beyond any of these explanations for the answer. In his view, what's throwing most of us off kilter - whether we think of ourselves as on the left or right, capitalist or socialist -was birthed 400 years ago during the period of the Enlightenment. It's a set of assumptions, a particular way of looking at the world that pushed out previous modes o

COVID-19 is a wicked problem for policy makers internationally as the complexity of the pandemic transcends health, environment, social and economic boundaries. Many countries are focusing on two key responses, namely virus containment and financial measures, but fail to recognise other aspects. The systems approach, however, enables policy makers to design the most effective strategies and reduce the unintended consequences. To achieve fundamental change, it is imperative to firstly identify the "right" interventions (leverage points) and implement additional measures to reduce negative consequences. To do so, a preliminary causal loop diagram of the COVID-19 pandemic was designed to explore its influence on socio-economic systems. In order to transcend the "wait and see" approach, and create an adaptive and resilient system, governments need to consider "deep" leverage points that can be realistically maintained over the long-term and cause a fundamental change, rather than focusing on "shallow" leverage points that are relatively easy to implement but do not result in significant systemic change

"How the 'emotional contagion' of memes makes them the internet's moral conscience By Allie Volpe Aug 27, 2018, 11:30am EDT Illustration by Alex Castro & Keegan Larwin SHARE Newly single, Jason Donahoe was perusing Tinder for the first time since it started integrating users' Instagram feeds. Suddenly, he had an idea: follow the Instagram accounts of some of the women he'd been interested in but didn't match with on the dating service. A few days later, he considered taking it a step further and direct messaging one of the women on Instagram. After all, the new interface of the dating app seemed to encourage users to explore other areas of potential matches' online lives, so why not take the initiative to reach out? Before he had a chance, however, he came across the profile of another woman whose Tinder photo spread featured a meme with Parks and Recreation character Jean-Ralphio Saperstein (Ben Schwartz) leaning into the face of Ben Wyatt (Adam Scott) with the caption: hey I saw you on Tinder but we didn't match so I found your Instagram you're so beautiful you don't need to wear all that makeup ahah I bet you get a lot of creepy dm's but I'm not like all those other guys message me back beautiful btw what's your snap "I was like, 'Oh shit, wow,'" Donahoe says. Seeing his potential jerk move laid out so plainly as a neatly generalized joke, he saw it in a new light. "I knew a) to be aware of that, and b) to cut that shit out … It prompted self-reflection on my part." THE MOST SUCCESSFUL MEMES STRIKE A CULTURAL CHORD AND CAN GUIDE AND EVEN INFLUENCE BEHAVIOR Donahoe says memes have resonated with him particularly when they depict a "worse, extreme version" of himself. For Donahoe, the most successful memes are more than just jokes. They "strike a societal, cultural chord" and can be a potent cocktail for self-reflection as tools that can guide and even influence behavior. In the months leading up to the 2016 US

Today's pandemic offers the sector an opportunity to break that trajectory. "Crises are moments of change," Alice Obrecht, the head of policy for ALNAP, says. "They make it impossible to act in the way you were acting before." To understand where we might go from here, a look back at how the aid sector has changed - grown up, really - over the past 25 years is helpful: from the Rwanda genocide in 1994 to the 2004 Indian Ocean tsunami; from September 11th 2001 to 2013's Typhoon Haiyan in the Philippines, and then the 2015 surge of refugees across the Mediterranean, humanitarianism has helped pick up the pieces and allowed people to restart their lives.

"he premise is that everyone should be entitled to a good job, one that pays at least $15 an hour and comes with benefits such as health care, family leave policies and child care. The program would be administered at a local level, with federal funding, and jobs would be fitted to people, not the other way around. The aim "is not to change the worker in some fundamental way," said Stephanie Kelton, a professor of public policy and economics at Stony Brook University and formerly a senior advisor to Sanders. "You take the worker the way they are and you fit the job to the worker.""

"This has fundamental implications for how one thinks about current challenges. Globalisation and technological change are often portrayed as exogenous forces sweeping across the rich countries, inexorably driving up inequality and forcing workers to accept wage stagnation (and often less security) if they are to hold on to their jobs. Instead, the variation in country experiences shows how much institutions and policy responses matter to how these forces - themselves subject to human agency rather than God-given - play out in the job market and affect household disposable incomes. Wage-setting institutions clearly have a critical influence. The Belgian combination of wages indexed to inflation, collective agreements covering most workers, and a high minimum wage underpinned significant wage growth across the distribution. In Australia, the extension of collectively negotiated employment terms and conditions over much of the work force, together with a very high minimum wage, play a key role. By contrast, the remarkably poor earnings performance of the UK over the last decade is in a context where wage bargaining has become individualised."

"new report from the Economic Policy Institute calls attention to the hardy perennial of how much America's corporate titans make: bosses of the top 350 firms made an average of $18.9m in 2017. That's a ratio of 312-1 over the median worker in their industries. Big bucks to be sure. And a big change since 1965, when the ratio was just 20-1. But what does it mean? And if there's a problem, what is it, exactly? What it means, as the EPI economists carefully document, is that the top US corporate chiefs are paid overwhelmingly with stock options, and their income fluctuates with the market. About 80% of the pay packet is in stocks, and the rise of 17% in 2017 after two flat years surely suggests that the top CEOs (not unreasonably) sensed the market peaked last year. So they cashed in. On the other 20% of the pay packets, no gains occurred"

Natural hazard events, such as storms, floods, and wildfires, entail huge and growing costs all over the world, but they can also be occasions for countries to implement risk-reducing changes. There is no research consensus on whether natural hazard events lead to policy modifications or, instead, contribute to stability and preservation of existing solutions. Knowledge in this area to date has been based on individual case studies, and global trends have not been studied.

Natural hazard events, such as storms, floods, and wildfires, entail huge and growing costs all over the world, but they can also be occasions for countries to implement risk-reducing changes. There is no research consensus on whether natural hazard events lead to policy modifications or, instead, contribute to stability and preservation of existing solutions. Knowledge in this area to date has been based on individual case studies, and global trends have not been studied.

time to reverse a century of fire-management policy. That will require sweeping regulatory reforms, and tons of money.