Who’s Who of Prominent Economists Agree: Inequality Harms Economic Growth | The Big Picture
Who’s Who of Prominent Economists Agree: Inequality Harms Economic Growth | The Big Picture:
It’s Now Mainstream Economics that Runaway Inequality Hurts the Economy … But Corrupt Government Policy Is Still Pouring Gasoline On the Fire and
Here’s your primer on economic inequality, why its bad, why it happens, who talks about it, what the problems it causes are and just how bad it is (really really bad).
The wolves of the web
“The barons of high-tech like to think of themselves as very different creatures from the barons of Wall Street. They create cool devices that let us carry the world…”
“But today’s money-gorged young techies want to enjoy the perks of city life. Thus they buy up, occupy and gentrify whole urban districts: they are seceding in plain sight.”
Tech backlash comes as it becomes clear that a cheap iPad won’t fix social inequality.
The Impending Crash Of The Videogame Console Market
The Impending Crash Of The Videogame Console Market:
Natasha Lomas on how the numbers are shaping up so far in the gaming console space:
The thing is neither of these new generation console flagships is selling very well when compared with previous generations of flagship consoles. The console market appears to be shrinking significantly — and that’s evidently having a knock-on impact on games studios and game development.
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At this relatively early stage the new generation stacks up as follows: Wii U at 6 million, XB1 at ~4 million and PS4 at 6 million: a total of ~16 million. So only around 244 million to go — just to perform as well as the last generation. But with game budgets increasing a flat console market isn’t a good thing. This new generation needs to be outselling the last, not looking like it’s going to have a really tough time shipping the same.
College Grads Taking Low-Wage Jobs Displace Less Educated
College Grads Taking Low-Wage Jobs Displace Less Educated:
Dear College Grads: You’re ruining the economy.
“The funny thing is, the majority of our servers, bartenders and people who work in the corporate office do carry either a master’s or Ph.D.”
Haha yeah, the value of your Ph.D. is a bartender job. “Funny.”
“As the number of college graduates outweighs the availability of education-appropriate jobs and they take whatever they can get, everyone else is pushed down the ladder, said Katie Bardaro, PayScale’s lead economist and analytics manager.
‘There’s not really a lower-level job they can move into since they were already in a low-level job,’ Bardaro said.”
That’s right college graduate, your Master’s degree has gained you vaunted entry to the bottom. Enjoy the security of having no further to drop and the guilt of being the majority reason we need to increase minimum wage.