Most of civilised history has been spent trying to reduce the number of hours humans work in back-breaking menial jobs and increasing the number of hours worked in safe and intellectually rewarding knowledge jobs. Technologists, for some reason, think it’s now logical to encourage the opposite, and the phenomenon is leading to an inflation paradox.
Is CalPERS’ earning enough to justify its risk position?; The IMF is bridging research and reality on inequality; Giant Iron Man statues; Inside Uber’s aggressive, unrestrained workplace culture; Do we deserve sexy time breaks?; A retort to the Economist on the free trade issue; Fintech gets appropriated; Apple and the innovation vs planned obsolescence cycle; The world’s tiniest stock exchange; ITV did an investigation on Deliveroo working standards; Why we can’t repeat the Golden Age; What’s happening beyond the coastal cities and elite college campuses in America; Why we may have reached “peak renter”.
Bill Gates wants robots to pay income tax to help protect human workplaces, slow the pace of technological disruption and (we presume) ease off the risk of revolution. But what’s a robot income tax than a corporation or wealth tax by another name?
Gavyn Davies on how Trump might reshape the Fed; DeLong vs Rodrik; the BoE on economic uncertainty in the euro-area; liquidity transformation and open-ended funds; deviations from covered interest rate parity refuse to go away; Balding continues his look at the possibilities of a Chinese financial crisis, and the who’s who of China’s leading small groups; decoding India’s low tax base conundrum; frontrun the world’s manufacturing caravans; shorting US malls; a longread on 4chan; a college course on calling out scientific crap; “Alien particles from outer space are wreaking low-grade havoc on personal electronic devices”; Venice fights back; on the etiology of f*ckers; other stuff.
Levine: Dole Food had too many shares; “… a club where people pay you as president to spend time in his company is new. It is kind of amazing”; Grantham: ‘Twas capitalism that killed capitalism”; the BoJ and the ‘Piketty problem’; Florida man conspires to blow up Target stores to crash stock; what the HBOS fraud tells us about the state of British banking; training as a binary options salesman for a day; reflecting on one very, very strange year at Uber. And a response from Uber’s boss; Scott Alexander collates comment about his post on cost disease; Isis’s “business model” is on the path to failure; a comparative guide to Russia’s use of force; Texas pimps, in their own words; inside Macedonia’s fake-news complex; citations; other stuff.
A long time ago in a galaxy far, far away, insurance brokers could have a pint with lunch.