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.
- The brief history of Airbnb, and what’s next
- Steven Johnson on how play shaped the modern world
- Michael Mauboussin reflects on thirty years of markets, cognitive biases, luck vs skill, and more
- The social media we deserve
- Trading Places and those frozen orange juice futures
- Language, truth, and Trump
- Keynes vs Hayek — who’s winning now?
- Miriam Leiva, Cuban dissident, on the death of Fidel Castro
- From the Trump to the Tramp
- The Trump economy
Alphachat’s guest this week was Martin Sandbu, economics writer at the FT and author of the daily Free Lunch newsletter, which we highly recommend. Martin has written extensively about both the appeal of a Universal Basic Income and the ways in which economics should re-orient itself in the wake of the financial crises and deep recessions of the past decade. We asked Martin to join us for a chat about UBI and other ideas in economics that once would have been considered radical or excessive, but which now are the subject of serious debate. We focused especially on the potential for these ideas to directly alleviate problems in the labour market and regional inequalities.
The net effect of immigration on the employment and wages of US-born workers is often the source of contentious debates. Less in dispute, which is unsurprising given that it’s a matter of simple arithmetic, is the effect of immigration on the growth of the US population and prime-age labour force. From a recent note by Goldman Sachs economists, emphasis ours:
Low real interest rates and depression economics, not secular trends; what lettuces tell us about deregulating Britain; the chicken industry might be rigged; NY Fed on the changing US debt picture; when the IMF evaluates the IMF; Italy’s struggle with the euro straitjacket; acting SEC chair is using his temporary powers; central bank goldbug du jour; Carl Icahn vs satire; life in a digital utopia; if you want to be more productive, just sit next to someone who already is; sui generis; other stuff.