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02:23 PM on 12/07/12 
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mattyrocks
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apple to invest over $100M to produce macs in US

well this is a step in the right direction
07:53 PM on 12/07/12 
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apoemtothedead
ppppppppttttttttt.
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Apple to employ dozens of American robots.
09:29 AM on 12/09/12 
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mattyrocks
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that were made in china
12:58 PM on 02/07/13 
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Nuns On A Bus
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It's not you, it's quantitative cost-benefit analysis

Quote:
Susan, we need to talk. I’ve been doing a lot of thinking lately. About us. I really like you, but ever since we met in that econ class in college I knew there was something missing from how I felt: quantitative reasoning. We can say we love each other all we want, but I just can’t trust it without the data. And after performing an in-depth cost-benefit analysis of our relationship, I just don’t think this is working out.

Please know that this decision was not rash. In fact, it was anything but—it was completely devoid of emotion. I just made a series of quantitative calculations, culled from available OECD data on comparable families and conservative estimates of future likelihoods. I then assigned weights to various “feelings” based on importance, as judged by the relevant scholarly literature. From this, it was easy to determine that given all of the options available, the winning decision on both cost-effectiveness and comparative-effectiveness grounds was to see other people.

It’s not you, it’s me. Well, it’s not me either: it’s just common sense, given the nature of my utility function.
02:13 PM on 02/07/13 
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Cereal_Killer
Lucky 7s
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Nu Yawk Shitty
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i bet theres a catch.
02:28 PM on 02/07/13 
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Jake Gyllenhaal
Sit on Santa's lap
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Yea, $2,000 ipod minis and $10,000 macbook airs
05:52 AM on 02/08/13 
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Cereal_Killer
Lucky 7s
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Yea, $2,000 ipod minis and $10,000 macbook airs


Hahahah exactly.
09:35 AM on 04/22/13 
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EasySkankin
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Meet the 28 year old grad student who shook the global austerity movement
10:23 AM on 04/22/13 
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Mibabalou
Desolate Earth :: The End Is Here
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What a legend.
01:13 PM on 04/23/13 
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Nuns On A Bus
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^^ Can't imagine what it would be like as a grad student to figure something like that out.

I thought this was an interesting discussion of the transitioning from agriculture-->manufacturing-->services based economy, and why service based economies allow for the richest populations.
02:36 AM on 04/28/13 
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EasySkankin
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I bought and read a good chunk of rogoff/reinhardts' book and now I can't help but think I can't trust anything they've said. Sad cause their methodology if done right seems brilliant.
06:50 AM on 04/30/13 
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loveisdead
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Last week when it reported earnings, Apple said it would borrow money from the public market in order to pay dividends and buy back debt.
This represents the first borrowing since 1996/
Now the company is fleshing out the details if its borrowing.
In a prospectus just filed with the SEC, the company reveals that it will borrow money for 3, 5, 10, and 30-year durations. That means that some debt won't be paid back until 2043, which is several lifetimes from now in the tech world.


http://www.businessinsider.com/apple...#ixzz2RwzoDj6r
03:58 PM on 04/30/13 
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Love As Arson
Resident Marxist
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Quote:

The third point is that there is also little evidence that alternative Keynesian policies of government spending and ‘unconventional’ monetary measures (i.e printing money and borrowing more) would work in restoring and sustaining a high rate of economic growth. The evidence is dubious, as I have shown in previous posts (see http://thenextrecession.wordpress.co...s-multiplier/). And again, the causation is not clear: 1) a recession causes high debt, so the only way to get debt down is to boost growth (Keynesian) or 2) high debt causes recessions, so the only way to restore growth is to cut debt. Indeed, the issue for the Marxist approach is not so much the level of debt (R&R) or the level of spending (the fiscal multiplier), but the level of profit and profitability.

The revelations of this new paper come at a bad time for advocates of austerity. The IMF’s latest World Economic Outlook lays into austerity policies like those espoused by the UK coalition government and supported by right-wing cranks like David Stockman and Paul Ryan in the US. As IMF chief economist (and semi-Keynesian), Olivier Blanchard put it: “The danger of having no growth, or very little growth, for a long time is very high…you’re playing with fire when you get to very low growth rates. If you can decrease the speed of fiscal consolidation while maintaining credibility I think it’s worth considering.” His words were echoed by Christine Lagarde that “there is a need for higher demand” in countries with big trade surpluses. The Conservative government in the UK responded that the IMF forecasts better growth for the UK this year at 0.7%, than either France or Germany. But when these countries are also imposing austerity and the mature capitalist economies are expected to manage little more than 1% real growth this year and not much better in 2014, that’s hardly a convincing argument for austerity.

But whatever view you take: that austerity works or does not work; or the Keynesian alternatives work or don’t work in getting capitalism back on its feet, the news that mainstream academics are fast and loose with their number crunching in order to reach pre-conceived conclusions is not so surprising. It’s part of what Marx called ‘vulgar economics’. It has only been revealed this time because of the battle over pro-capitalist economic policy between the Austerians and Keynesians. As R&R say in their response: “Looking to the reaction to this comment in blogosphere, we note that this is not the first time our academic work is seen pandering to a political view. What is quite remarkable is that this claim has spanned polar opposites! This time, we are charged with misconstruing analysis to support austerity. Only a few months ago, our findings on slow recoveries from financial crises were accused as providing a rationale (excuse?) for the deep recession and weak economy the Obama administration has faced since 2007.”

The battle continues.

http://thenextrecession.wordpress.co...g-the-two-rrs/
06:47 AM on 05/07/13 
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EasySkankin
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While I admittedly bought into it, the depiction of this whole scandal has gotten a little out of hand when it comes to the motives of the authors involved. The excel error excluded data on an alphabetical basis, and the authors have given their rationale for the two other blunders which are definitely up for debate but still legitimate.

The specific edition of the journal this was published in was particularly less scientific than most other editions in that it didn't require explicit sharing of data (which was still mostly available via R&R's website) and no refereeing or preliminary review. Yet, here we are now, so it might as well have been. To assert that this specific episode shows some bankruptcy of rationality in the field seems a stretch. The legitimate complaints about lack of uniformity and politicization of the field are much broader and less sinister than this specific instance. More than even the other social sciences, this field has the most explicit public policy implications and such problems should be expected.

On the issue of causality, this post makes a compelling case, perhaps a great starting point, that the causality is reverse, that is that low growth leads to high public debt levels.

Still though I think this may be over-generalizing, and this should be dealt on a case-by-case basis. I believe Europe's situation is a prime example of how certain structures of public debt, particularly when you don't control your own currency, can cause recessions. And still people like Krugman have pointed out that important points of R&R's data set like Italy and Japan clearly suffered their debt malaise as a result of external problems.

The author's attack on the fiscal multiplier seems incomplete. I agree with him and others he's quoted as far as he goes. The common understanding of it generalizes far too much, isn't comparable across countries, time periods, etc. as it is essentially a ROI which can be contrasted to something I guess you could call the private multiplier (perhaps comparable to what he calls the "marxist multiplier"). He even leans towards the intuitive conclusion that the fiscal multiplier is larger during times of recession. Yet the tone that I got was that somehow this is all irrelevant, and in an ironic twist that I think Marx himself, trapped in his Hegelian moment, was victim to is the assumption of the Classical school that public spending itself is irrelevant. Perhaps you could justify this.
11:43 AM on 05/14/13 
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EasySkankin
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Retailers to sign unique agreement to improve labor conditions in Bangladesh
Quote:
The agreement is only the first step in a long process, and many details remain to be worked out, according to labor groups. Signatories have 45 days to form a governing board and develop an implementation plan. The board will include three labor representatives, three retailer representatives and a chairman chosen by the U.N. International Labor Organization.


The board will oversee safety inspections of up to 5,000 factories over two years, with the results to be made public. The board also will oversee dispute resolution between retailers and union representatives, which will be subject to arbitration with decisions enforceable in a court of law in the country of the retailer.



To implement the accord, each company's cost will be based on how much they produce in Bangladesh. Participation will cost each company a maximum of $2.5 million over the five-year period, according to a draft of the agreement.



Questions remain. Because companies rarely sign long-term contracts with factories and regularly move production between manufacturers, the board will have to define how to determine which companies will be responsible to pay for which repairs and renovations at factories, said Scott Nova, executive director of the Worker Rights Consortium, a monitoring group in Washington.


Labor groups say that Wal-Mart, which has had sourcing office in Bangladesh for at least a decade and is one of the country's largest customers, has long resisted a legally binding agreement. Wal-Mart has preferred to implement its own safety programs, such as a recent $1.6 million donation to an American organization to start an environmental health and safety academy in Bangladesh.



But the company confirmed that Rajan Kamalanathan, Wal-Mart's head of ethical sourcing, attended a meeting earlier this month in Germany to draft the industrywide safety agreement with two dozen retailers, workers-rights groups, labor unions and non-governmental organizations.


The group set Tuesday as the deadline to sign the new pact.
Via

In addition, the government is increasing the minimum wage and will put up legal barriers so factory owners can't interfere with labor organizations.



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