Wall Street Owns The Country
Dirt: Coping with things
Coping with things is the prevailing mood in my corner of the universe. As I write this, America has just completed an election in which many people voted primarily for the idea of voting. The prevailing candidate? Less an individual than an avatar of civility and liberalism.
We are a country founded on an idea and not an identity.
Americans have a way of obscuring reality through grand symbolism and none of the accompanying semiotic rigor. As if the facade of democracy can be upheld by not looking too closely at increasingly undemocratic outcomes — our high tolerance for multiculturalism tenuously predicated on everyone struggling equally. The difference between idea and identity is both our saving grace and our downfall. Democracy: watch the gap.
The idea of the American individual, part of the national optimism that fueled the Space Race, is far less prominent than the citizen-consumer. Attaining a degree of celebrity, still a coveted means to financial stability, thrusts one into the category of “celebrity,” where image overtakes personhood.
Lifestyle, like work, is something we can only see in aggregate. Technological gains don’t relieve the pressure for ownership; they merely reinforce it.
Philadelphia libraries are struggling to stay open and short hundreds of workers
Can a universal basic income help address homelessness? | Hacker News Discussion
The number one thing UBI doesn't handle well is rent inflation. You hand out $1000 dollars per person monthly, expect rents to go up by about $1000 monthly as landlords realise there is all this extra disposable income in peoples' hand right now.However, this is just an exaggerated effect of monopolies sucking out all aggregate disposable income out of economy that is already happening. Monopolies by definition don't have price down pressures, so they always price expand to capture anything people might have extra. Since landlording is the biggest aggregate monopoly in the world, landlords capture any disposable workers' income. No matter if they get a raise from their boss, the landlord always takes it away.
One of the biggest strengths of UBI is that it eliminates the beurocracy and waste associated with determining who "deserves" assistance. The dominant model in the US is expecting homeless people with drug problems to solve both their addiction and homelessness at the same time by themselves before they are deemed worthy of being helped, which needless to say is barely assistance at all. Having a gaurenteed income stream would make it easier to gain a foothold.
Diminishing returns - Wikipedia
A common example of diminishing returns is choosing to hire more people on a factory floor to alter current manufacturing and production capabilities. Given that the capital on the floor (e.g. manufacturing machines, pre-existing technology, warehouses) is held constant, increasing from one employee to two employees is, theoretically, going to more than double production possibilities and this is called increasing returns.
If we now employ 50 people, at some point, increasing the number of employees by two percent (from 50 to 51 employees) would increase output by two percent and this is called constant returns.
However, if we look further along the production curve to, for example 100 employees, floor space is likely getting crowded, there are too many people operating the machines and in the building, and workers are getting in each other's way. Increasing the number of employees by two percent (from 100 to 102 employees) would increase output by less than two percent and this is called "diminishing returns."
Opinion | America Runs on ‘Dirty Work’ and Moral Inequality (Published 2021)
The shame of San Francisco: Sean Messer spent years screaming for help and now he's dead
the police are at wits’ end. It all speaks to the desperate need for a statewide mental health system, funded with help from the feds. The problem is just too big for San Francisco to solve on its own.
Paballo Chauke on Twitter
Biden's student loan plan won't bring down college costs
Why costs are so high: The simplest answer is that schools have had little incentive to control costs, particularly when abundant student loans — both public and private — can make tuition rates appear more affordable than they really are.Moreover, some schools are motivated to spend on high-ticket items like new construction, because that can attract wealthier students (including from overseas) who don't request financial aid. In the end, however, those costs often get passed down to everyone.This is a systemic issue, which explains why most politicians have preferred to play along the easier margins.
There are possible solutions that have been circulating among education experts, not all of which rely on taxpayer largesse like making public college free for lower-income students.One would be to limit loans tied to education at schools that have a demonstrated history of onerous student debt burdens. In other words, if most of a school's students aren't receiving the sort of education that allows them to pay off their loans, cut it off at the source.This could include a gainful employment rule focused on career programs, which is favored by the Biden administration but languishing in Congress.Another would be to deny federal research grants to schools whose tuition rates increase at an unacceptably high level. This would be particularly impactful at large public and private universities.The federal government also could consider revoking the tax-exempt status of schools that exceed tuition inflation limits, although that likely would face court challenges.
The Single Most Important Thing to Know About Financial Aid: It’s a Sham
The whole public-facing system of college admissions—in which admissions decisions are based on rigorous academic standards and financial aid is supposedly provided to those who are most academically and financially deserving—is an elaborate stage play meant to flatter privileged families and the reputations of colleges themselves. The real system, hidden behind the scenery, is much closer to the mechanics of pure capitalism, driven by an industry of for-profit consultants and relentlessly focused on the institutional bottom line.
A spokesman from Clark University, which tried to entice Ethan with a “$68,000 Robert Goddard Achievement Scholarship,” told me that the school “does not rely on an enrollment management consultant.” Instead, they said, it “occasionally” hires “outside analytical support” that does “not tell us how much aid to offer any student or group of students” but does “crunch large volumes of data in a timely manner that we then use to assess our progress toward our enrollment goals and estimate/project our total aid expenditure through that enrollment cycle.”
So, not an enrollment management consultant. Just, you know, a consultant that helps them manage enrollment.
As DiFeliciantonio wrote: “Wealthy families are more able and less willing to pay for college while the poorer families are more willing and less able.” In other words, parents of means who themselves have finished college are often sophisticated consumers of higher education and are able to drive a hard bargain, whereas lower-income, less-educated parents feel an enormous obligation to help their children move farther up the socioeconomic ladder and blindly trust that colleges have their best financial interests at heart. So colleges obey the algorithm and offer more financial aid to the Ethans than to the Ashleys, one of many problems identified in a recent Brookings Institution report.
Ashley submitted financial aid forms with information about her family’s modest income because everyone and everything about the process told her college aid is based on how much money you need, or deserve. She had no idea that information could be used against her. In May, New York University offered her admission if she would agree to delay enrollment until spring 2023—when, maybe not coincidentally, her good-but-not-stellar academic record would not count in the rankings data NYU submits to U.S. News & World Report. Their price? $79,070. Their aid offer? $0, take it or leave it, with 96 hours to respond.
as the countless individual stories that compose the nation’s $1.7 trillion student loan crisis show, many families make different choices. They are drawn in by a combination of optimism, blind faith, and familial obligation, and end up with debts they cannot repay. Colleges know this will happen.
Nobody is really judging your worthiness for financial aid. College is just another service with a price.
How the Inflation Reduction Act might impact you — and change the U.S.
The goal? To make new green energy production cheaper for utilities to build than fossil fuel plants are.
Yale Law Journal - Amazon’s Antitrust Paradox
Although Amazon has clocked staggering growth, it generates meager
profits, choosing to price below-cost and expand widely instead. Through this
strategy, the company has positioned itself at the center of e-commerce and now
serves as essential infrastructure for a host of other businesses that depend upon
it. Elements of the firm’s structure and conduct pose anticompetitive
concerns—yet it has escaped antitrust scrutiny.
This
Note argues that the current framework in antitrust—specifically its pegging competition to “consumer welfare,” defined as
short-term price effects—is unequipped to capture the architecture of market
power in the modern economy. We cannot cognize the potential harms to
competition posed by Amazon’s dominance if we measure competition primarily
through price and output. Specifically, current doctrine underappreciates the
risk of predatory pricing and how integration across distinct business lines
may prove anticompetitive.
These concerns are heightened in the context of
online platforms for two reasons. First, the economics of platform markets create
incentives for a company to pursue growth over profits, a strategy that
investors have rewarded. Under these conditions, predatory pricing becomes
highly rational—even as existing doctrine treats it as irrational and therefore
implausible.
Second, because online platforms serve as critical intermediaries,
integrating across business lines positions these platforms to control the
essential infrastructure on which their rivals depend. This dual role also
enables a platform to exploit information collected on companies using its
services to undermine them as competitors.