Showing posts with label economics. Show all posts
Showing posts with label economics. Show all posts

Externalities, More Than

In the series The FUTURE of WORK

"Dollars in the Margins"

[intro blurb - a quotation from the article]

The $15 Minimum Wage Doesn’t Just Improve Lives. It Saves Them. A living wage is an antidepressant. It is a sleep aid. A diet. A stress reliever. It is a contraceptive, preventing teenage pregnancy. It prevents premature death. It shields children from neglect.
By MATTHEW DESMOND

https://www.nytimes.com/interactive/2019/02/21/magazine/minimum-wage-saving-lives.html

And so for day 2412
21.07.2013

Scientism of the Dismal Science

Notice how the mention of "worldly philosophers" (and I am assuming an allusion to Robert L. Heilbroner's book) triggers a contemplation of the consequences of resisting hegemonic discourse.

Fellow economists, as you can imagine, get very angry with me when I tell them that we face a choice: we can keep pretending we are scientists, like astrologers do, or admit that we are more like philosophers, who will never know the meaning of life for sure, no matter how wisely and rationally they argue. But were we to confess that we are at best worldly philosophers, it is unlikely we would continue to be so handsomely rewarded by the ruling class of a market society whose legitimacy we provide by pretending to be scientists.
From the epilogue to Talking to My Daughter About The Economy Or, How Capitalism Works — and How It Fails by Yanis Varoufakis.

And so for day 2338
08.05.2013

Post Precariat

A World Without Work from The Atlantic

Derek Thompson draws on Benjamin Hunnicutt.

The post-work proponents acknowledge that, even in the best post-work scenarios, pride and jealousy will persevere, because reputation will always be scarce, even in an economy of abundance. But with the right government provisions, they believe, the end of wage labor will allow for a golden age of well-being. [Benjamin] Hunnicutt said he thinks colleges could reemerge as cultural centers rather than job-prep institutions. The word school, he pointed out, comes from skholē, the Greek word for “leisure.” “We used to teach people to be free,” he said. “Now we teach them to work.”

https://www.theatlantic.com/magazine/archive/2015/07/world-without-work/395294/
Thompson goes on to note that unemployed people end up spending majority of time watching television. He makes no mention about any links between disposable income and leisure; instead he returns us to work as the source of meaning: "The unemployed theoretically have the most time to socialize, and yet studies have shown that they feel the most social isolation; it is surprisingly hard to replace the camaraderie of the water cooler." Nice sentiment but further along in the article, Thompson concedes "Less passive and more nourishing forms of mass leisure could develop. Arguably, they already are developing. The Internet, social media, and gaming offer entertainments that are as easy to slip into as is watching TV, but all are more purposeful and often less isolating. " But he raises an objection "[I]t’s hard to imagine that leisure could ever entirely fill the vacuum of accomplishment left by the demise of labor. Most people do need to achieve things through, yes, work to feel a lasting sense of purpose."

Of course, it is important to note that "wage labour" is not "work".

Intrinsically this is a problem of income insecurity or wealth inequality. Something to work on.

And so for day 2284
15.03.2013

Swing Shift

Annie Lowrey Smart money: Why the world should embrace universal basic income in the Globe and Mail

So easy to miss the negation

These studies - as well as many others - counter many of the most common objections to a UBI. Such policies do not turn the safety net into a hammock, for one. People still work, particularly if the payments are not too big. Indeed, one benefit is that such payments do not penalize people for working and earning more, as many other welfare programs do. [our emphasis]
Would love to conceive of a world where relaxed swinging would be valuable day dream option for all — just a wee bit of time to listen to a berceuse.

And so for day 2187
08.12.2012