Tag Archives | Economics
Aaron Dames writes for Divided Core.
As for the developed countries from which this corrupting ethos of progress goes out: more and more their “growthmania” distorts their environments and robs the world of its nonrenewable resources for no better end than to increase the output of ballistic missiles, electric hairdryers, and eight-track stereophonic tape recorders. But in the statistics of the economic index such mad waste measures out as “productivity,” and all looks rosy.
-E.F. Schumacher, Small is Beautiful
During the State of Union address last week, President Barack Obama insinuated that Congress should grant him Fast Track authority (trade promotion authority that cannot be blocked by Congress) to make real the embryonic Transatlantic Trade and Investment Partnership (TPP) without directly referring to this nascent legislative monstrosity by name. He promised that, unlike previous trade agreements (such as NAFTA), the TPP would lead to domestic job creation, boost worker protections, and help the United States maintain its economic lead over China. … Read the rest
US technology giant Apple has reported the biggest quarterly profit ever made by a public company.
Apple reported a net profit of $18bn (£11.8bn) in its fiscal first quarter, which tops the $15.9bn made by ExxonMobil in the second quarter of 2012, according to Standard and Poor’s.
Record sales of iPhones were behind the surge in profits.
Apple sold 74.5 million iPhones in the three months to 27 December – well ahead of most analysts’ expectations.
In a conference call with financial analysts Apple’s chief executive Tim Cook said that demand for phones was “staggering”.
However, sales of the iPad continued to disappoint, falling by 22% in 2014 from a year earlier.
Apple quarterly results
(£11.8bn) – biggest ever by a public company
(£93bn) net cash reserves
- 74.5m number of iPhones sold
- 39.9% profit per product
- 22% fall in sales of iPads
Apple (Figures for three months to end December 2014)
Abby Martin interviews Margaret Heffernan, author of ‘Willful Blindness’ and ‘A Bigger Prize’, about the destructive impact of competition and alternative models of incentivizing people to work together for the greater good.
… Read the rest
Despite poll after poll showing that Americans want more clean energy, Indiana legislators are pushing bills that would reduce energy efficiency and make it harder for Hoosier state residents to go solar, just as the solar industry is getting on its feet in the state.
Last week, Indiana’s Senate Utilities Committee heard from a packed room about its bill that would let utilities set energy efficiency goals. Last year the state decided to end the popular Energizing Indiana efficiency program. Now some in the legislature have created Senate Bill 412, which is very one-sided in favor of utilities who sell electricity and doesn’t protect the average person from monopoly interests.
— Indiana Beyond Coal (@INBeyondCoal) January 22, 2015
Energy efficiency is a proven tool to lower electricity bills and save money for people across the state.
David Schubert via CNN:
One would expect that the U.S. Environmental Protection Agency has the best interests of the public in mind, but its recent decisions have cast serious doubt upon this assumption.
… Read the rest
One in particular could have a dramatic impact on the safety of the U.S. food supply: It is the mandate of the EPA to regulate the use of agricultural chemicals like insecticides and herbicides, as well as to determine their allowable limits in food and drinking water.
Herbicides (weed killers) are mixtures of chemicals designed to spray on weeds, where they get inside the plants and inhibit enzymes required for the plant to live. The active ingredient in the most widely used herbicide is glyphosate, while some herbicides contain 2,4D. 2,4D is best known as a component of Agent Orange, a defoliant widely employed during the Vietnam War.
It’s all been swept up by the digital deluge: the way we create, consume, socialize, learn, all of it. Yet no matter how much of the analog world seeps into the digital realm, the almighty dollar continues to resist the pixel-y tide. The act of currency creation remains an esoteric, behind-the-scenes process controlled by a few privileged, monocle-clad, suit-wearers with fancy titles and special permissions.
Actually, we do have digital money and it’s called bitcoin. It does work, it’s safe and it’s easy to use. On top of that, for the first time ever, no government, corporation or human being can claim dominion over, control, destroy or create a currency. Bitcoin is decentralized, open source, peer-to-peer, lives completely online and created through a programmatic process.
Practicality wise, you can already buy basically anything using bitcoin and a growing number of merchants, services and corporations are accepting it every day.… Read the rest
Via Global Research:
… Read the rest
Never before has it been so important to have independent, honest voices and sources of information. We are – as a society – inundated and overwhelmed with a flood of information from a wide array of sources, but these sources of information, by and large, serve the powerful interests and individuals that own them. The main sources of information, for both public and official consumption, include the mainstream media, alternative media, academia and think tanks.
The mainstream media is the most obvious in its inherent bias and manipulation. The mainstream media is owned directly by large multinational corporations, and through their boards of directors are connected with a plethora of other major global corporations and elite interests. An example of these connections can be seen through the board of Time Warner.
Time Warner owns Time Magazine, HBO, Warner Bros., and CNN, among many others. The board of directors includes individuals past or presently affiliated with: the Council on Foreign Relations, the IMF, the Rockefeller Brothers Fund, Warburg Pincus, Phillip Morris, and AMR Corporation, among many others.
Harry Enten writes at FiveThirtyEight:
… Read the rest
U.S. Attorney Preet Bharara ripped into the political culture in Albany on Thursday during a news conference detailing the arrest of New York Assembly Speaker Sheldon Silver on corruption charges. Indeed, cynics (including this writer) weren’t surprised that yet another of New York’s public officials landed in hot legal water.
But is Bharara being too tough on the Empire State’s public servants? Is the New York capital really that corrupt? The truth is, there are different ways to measure corruption, and they point in different directions. Here are four measures (I’ll go through each below).
We can look at the absolute number of public officials convicted in federal court on corruption. On that score, New York was No. 1 from 1976 to 2010 with 2,522 convictions. California was No. 2, Illinois No. 3, Florida No. 4 and Pennsylvania No. 5. Yet it’s clear from this list that the most corrupt states are also the states with the biggest populations.
Ann Jones via Tom Dispatch:
… Read the rest
Jan. 11, 2015 (TomDispatch.com) — Americans who live abroad — more than six million of us worldwide (not counting those who work for the U.S. government) — often face hard questions about our country from people we live among. Europeans, Asians, and Africans ask us to explain everything that baffles them about the increasingly odd and troubling conduct of the United States. Polite people, normally reluctant to risk offending a guest, complain that America’s trigger-happiness, cutthroat free-marketeering, and “exceptionality” have gone on for too long to be considered just an adolescent phase. Which means that we Americans abroad are regularly asked to account for the behavior of our rebranded “homeland,” now conspicuously in decline and increasingly out of stepwith the rest of the world.
In my long nomadic life, I’ve had the good fortune to live, work, or travel in all but a handful of countries on this planet.