Economics @ ITT

Posted in economics, employment by ittecon on May 30, 2013

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Is the Porn Industry Perfectly Competitive?

Posted in economics by ittecon on May 30, 2013

Sex sells, but can it remain profitable.

It’s harder to make profits in porn in the digital world, the 21st-century medium of porn distribution.

Evidently, economic profits are approaching zero. There is clearly differentiation, but by and large pornography is a commoditised industry, but the marginal cost of delivery is also approaching zero.

This industry might well benefit be reading Chris Anderson’s Free: The Future of a Radical Price (or UK), and embrace it. Leverage the medium as an advertising vehicle, and run with it.

[No gratuitous images or video links.]

Source: Is Success Killing the Porn Industry? | Alternet.

Beware of Economic Nonsense Trotted Out by Profit-Seeking Corporations

Posted in economics by ittecon on May 29, 2013

Consumer benefits may sometimes exceed such costs. But, as we’ve painfully learned over the years (the Wall Street meltdown, the BP oil spill in the Gulf, consumer injuries and deaths from unsafe products, worker injuries and deaths from unsafe working conditions, climate change brought on by carbon dioxide emissions, and, yes, manipulation of the tax laws – need I go on?), the social costs may also exceed consumer benefits.

via Beware of Economic Nonsense Trotted Out by Profit-Seeking Corporations and Their Stooges | Alternet.

Noam Chomsky on Anarcho-Syndicalism

Posted in Uncategorized by ittecon on May 29, 2013

NOAM CHOMSKY:  Well, anarchism is, in my view, basically a kind of tendency in human thought which shows up in different forms in different circumstances, and has some leading characteristics.  Primarily it is a tendency that is suspicious and skeptical of domination, authority, and hierarchy.  It seeks structures of hierarchy and domination in human life over the whole range, extending from, say, patriarchal families to, say, imperial systems, and it asks whether those systems are justified.  It assumes that the burden of proof for anyone in a position of power and authority lies on them.  Their authority is not self-justifying.  They have to give a reason for it, a justification.  And if they can’t justify that authority and power and control, which is the usual case, then the authority ought to be dismantled and replaced by something more free and just.  And, as I understand it, anarchy is just that tendency.  It takes different forms at different times.

via NOAM CHOMSKY — ‘Everyday Anarchist’: The Modern Success Interview | Modern Success.

Help us build a dictionary on commons economics!

Posted in economics by ittecon on May 23, 2013

As part of the ongoing post-conference documentation and with the aim of sustaining a new type of commons-oriented “economics” “ecommonics?, we started with a dictionary of common economics terms…

via Help us build a dictionary on commons economics! | ECC 2013 – Communication Platform.

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Teach Your Children Well: Don’t Play Monopoly

Posted in economics by ittecon on May 22, 2013

Never played this game, but sharing anyway…

Do you really need to own Boardwalk and Park Place and all the associated property to be a winner? That’s how it works with Monopoly. But isn’t that the sort of board game teaching the wrong lessons to our children – and to us?

Don’t we have enough corporations and businesses monopolizing our economy and owning our government?

Enter Co-opoly, a board game where cooperative business are developed through team strategy. In short, sharing knowledge and creating cooperative strategies determine whether everyone wins or everyone loses. It’s not about an individual grabbing up all the wealth and bankrupting others; it’s about the economic success of people working together.

via Teach Your Children Well: Don’t Play Monopoly.

Corporate Hunger for Profits Has Devastated American Life—and the World

Posted in economics, environment, externalities, International Economics by ittecon on May 20, 2013

The damage caused by the relentless corporate drive for profits has become more clear in recent years. In the most important areas of American life, devastating changes have occurred:

Health Care: Almost half of the working-age adults in America passed up doctor visits or other medical services because they couldn’t afford to pay. The system hasn’t supported kids, either.

via The 4 Big Ways That Insatiable Corporate Hunger for Profits Has Devastated American Life — and the World Along with It | Alternet.

Sir Richard Branson talks about Virgin, Innovation, and Disruption

Posted in economics, oligopoly by ittecon on May 20, 2013

How to differentiate in an oligopoly market.

We’re living in an Ayn Rand economy

Posted in economics, Taxation by ittecon on May 18, 2013

Ayn Rand’s philosophy suggests that average working people are “takers.” In reality, those in the best position to make money take all they can get, with no scruples about their working-class victims, because taking, in the minds of the rich, serves as a model for success. The strategy involves tax avoidance, in numerous forms.

via We’re living in an Ayn Rand economy – Salon.com.

Surprise! Inflation is too low almost everywhere on earth

Posted in economics, macroeconomics, Policy Issues by ittecon on May 18, 2013

The leading economies of the industrialized nations may not have a lot in common, but they are all afflicted by this: Inflation is too low.

via Surprise! Inflation is too low almost everywhere on earth.