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.

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).

A 3-D View of the Yield Curve

Posted in economics by ittecon on March 18, 2015

Check it out. An interesting almost interactive yield curve.

A 3-D View of a Chart That Predicts The Economic Future: The Yield Curve – NYTimes.com.

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What If Black America Were a Country?

Posted in economics by ittecon on October 14, 2014

If black America were a nation-state, how would it stack up against other countries? How would it fare on standard measures of national power and weakness?

via What If Black America Were a Country? – The Atlantic.

This Is Your Brain on Money

Posted in economics by ittecon on October 13, 2014

A young economist  wrote in 1844, “The extent of the power of money is the extent of my power. Money’s properties are my – the possessor’s – properties and essential powers… I am bad, dishonest, unscrupulous, stupid; but money is honoured, and hence its possessor. Money is the supreme good, therefore its possessor is good. Money, besides, saves me the trouble of being dishonest: I am therefore presumed honest. I am  brainless, but money is the  real brain of all things and how then should its possessor be brainless?”

via This Is Your Brain on Money: Why America’s Rich Think Differently Than the Rest of Us | Alternet.

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Is the 1%’s Lack of Humility Is the Real Problem

Posted in economics by ittecon on September 26, 2014

[I]t’s human nature to show off, all the more so in highly unequal societies, people being the status-conscious beings that they are. It’s futile and beside the point to chide the rich for this behavior.

via Paul Krugman Dismantles the Notion That the 1%’s Lack of Humility Is the Real Problem | Alternet.