Economics @ ITT

Youth Unemployment Still Unrelenting in Europe

Posted in economics by ittecon on July 16, 2015

According to Eurostat, youth unemployment is still unrelenting across Europe. In March 2015, the most recent month where data is available for all 28 EU nations, Spain had the worst unemployment rate for people under 25 years of age, 49.9 percent. Greece was only marginally better off with 49.7 percent.

via • Chart: Youth Unemployment Still Unrelenting in Europe | Statista.

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This Light Bulb Has Been Burning for 114 Years; Will It Ever Stop? | Mental Floss

Posted in economics by ittecon on July 12, 2015

They don’t manufacture lamps like this anymore.

via This Light Bulb Has Been Burning for 114 Years; Will It Ever Stop? | Mental Floss.

Berlin’s New Rent Control Laws Are Already Working

Posted in economics by ittecon on July 11, 2015

The new law introduced on June 1st—called the mietpreisbremse or “rental price brake” in German—works like this. An overseeing body fixes a standard median rent per square meter for each city district, using figures based a biennial state census of rents. No new rental contract within the district is then permitted to charge over 10 percent more than this amount. This still means that price increases for new rentals are possible, but if they come, they happen far more slowly.

via Berlin’s New Rent Control Laws Are Already Working – CityLab.

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Free Trade Explained In An Excellent Comic

Posted in economics, International Economics, Trade by ittecon on June 30, 2015

The Trans-Pacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (TTIP) are the latest in a long line of international free trade agreements. But why are they bad for the majority of people and the planet and what are the justifications given by politicians, ecomonists and big corporations for pushing them?

via Free Trade Explained In An Excellent Comic.

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Supreme Court Rules That Clean Air Is Too Expensive

Posted in economics, environment, externalities by ittecon on June 29, 2015

Ain’t that a crock…

The Supreme Court voted Monday that the EPA cannot stop power plants from releasing hazardous chemicals without first proving that the clean air is worth more than the companies would have to spend to stop polluting.

via Supreme Court Rules That Clean Air Is Too Expensive.

Behavioural Finance – Theory and Practice

Posted in economics by ittecon on June 29, 2015

Emotions and irrational thinking often influence (economic) decisions.

via Behavioural Finance – Theory and Practice – The Market Mogul.

Dutch city of Utrecht to experiment with a universal, unconditional ‘basic income’

Posted in economics by ittecon on June 26, 2015

Basic income is a universal, unconditional form of payment to individuals, which covers their living costs. The concept is to allow people to choose to work more flexible hours in a less regimented society, allowing more time for care, volunteering and study.

via Dutch city of Utrecht to experiment with a universal, unconditional ‘basic income’ – Europe – World – The Independent.

Where Does Money Come From?

Posted in economics by ittecon on June 23, 2015

“What is money? How is it created? How does it enter into circulation? These are simple and vital questions it might seem, but the answers remain contested and often muddled.”

via Where Does Money Come From? – Positive Money (BSD).

The land tax: What happened to towns that tried Georgism.

Posted in economics by ittecon on May 17, 2015

More than a century ago, Henry George proposed a property tax he hoped would remedy inequality. Here’s what happened to a town that tried it.

via The land tax: What happened to towns like Fairhope, Alabama, that tried Georgism..

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I’ve Been a Prostitute for Almost 10 Years—Here’s How I Feel About It

Posted in economics by ittecon on April 22, 2015

It seems that stigmatising sex workers can do more damage to their self-esteem than the sex work itself.

I think I’ve internalized the societal hatred of sex workers. I am embarrassed to be a sex worker, even though I like my job, I’m good at it, and I’ve made exceptional progress in my career over the past few years. Despite all my accomplishments, I feel like a loser. Sometimes I jokingly refer to myself as a “whore” or a “hooker” to try to re-claim these derogatory terms, but I often find myself thinking of myself as “just a whore.”

via I’ve Been a Prostitute for Almost 10 Years—Here’s How I Feel About It | Alternet.