BC ECONOMY
Saved by @jay_millerjay

To see how the innovation economy has left much of the US behind, we traveled to the small town of Bryan, in northwestern Ohio's Williams County. This is a thread about how to fix what the innovation economy broke about America.

 This is Valerie. She’s 46 and has worked all her life—three jobs currently—yet she has just $65 in her checking account. Her husband works full time at a metal fastener plant.
Altogether, after health insurance premiums but before taxes, Valerie and her husband make about $45,000 a year.
The story of her working life is also the story of Bryan. The town is broken in some of the same ways that much of the rest of the country is broken. Understanding what broke Bryan is crucial to understanding how it might be fixed.
For decades, America’s political and business leaders acted as if places like Bryan didn’t matter.
Palo Alto and Greenwich did fine. These centers of high tech and financial services create vast wealth in the US's so-called innovation economy. But hundreds of places like Bryan, both urban and rural, were allowed to erode. The innovation economy has largely passed them by.
Developing a cogent regional development policy is one of the most vital public policy challenges facing America.
.@POTUS campaigned in part on the promise of creating “technology hubs” in 50 forgotten cities. https://t.co/P1DgcnqzcU
The diverging fates of places like Bryan and places like Palo Alto is clearly driving a loss of political faith, and that growing nihilism is threatening democracy itself. But it doesn't have to be like this. We can still turn it around. https://t.co/M8Pto7AZrZ
In early 2020, Jim Watkins, the chief of the Williams County health department, began a project with a group from @bgsu and the @ClevelandFed to see what might be done to improve the county’s housing and living conditions.
(1/2) The plan, which had just taken its first steps when the covid-19 pandemic stalled it, aimed to develop policies and financing so:
(2/2)

-people could maintain their homes
-the community could develop better building codes and enforce them, blight could be removed from business districts
-community features could be created or improved to attract the public
.@TimBartik, a labor economist with the W.E. @UpjohnInstitute for Employment Research in Kalamazoo, Michigan, has come up with a series of plans he calls “place-based job policies.”
Jobs have to pay more. Ohio’s minimum wage is only $8.80 an hour. The national minimum wage is just $7.25 and hasn’t risen since 2009. President Biden has proposed raising it to $15 per hour, which would be better, though still a low bar.
About 10% percent of Americans live in areas without access to broadband. Many who do have access can’t afford to pay for it. Expanding access and affordability could encourage entrepreneurs to think about starting businesses in places like Bryan, with its low cost of living.
This type of regional development could give towns like Bryan a draw they would not otherwise enjoy.
But no initiative, no program, no development aid will, by itself, solve the deepest problem of all: distrust of American institutions.
The pandemic has only exacerbated distrust that has been building for years.
The distrust and denial of truth and common sense only make it tougher for science and technology-based businesses to picture themselves in places like Bryan.
Unless there is deep and lasting investment in education sufficient to renew a faith in the possibility of rational progress, such areas can look forward to a future of low-paying, insecure jobs in warehouses and distribution centers, along with a handful of legacy manufacturers.
That means times will remain hard for people like Valerie, who recently wound up underemployed, again.
She gave up her two part-time jobs and finally got some sleep, but then, two days before Christmas, she was laid off by Sauder.
She quickly took a new part-time job with a home health agency while she spent the better part of a month fighting Ohio’s unemployment system. She still hadn’t received anything as of mid-January.
Now Valerie struggles to maintain her own faith. “I take one day at a time,” she says. “I don’t look too far in advance. I count my blessings every day.”
This was an excerpt from @BrianRAlexander’s subscriber exclusive on how to fix what the innovation economy broke about America. It was repurposed for Twitter by @Benji_Rosen, with inspiration from @charlottejee.

👀 READ the full story: https://t.co/M8Pto7AZrZ
Not yet a subscriber? For $50 per year, you’ll get unlimited access to our journalism and our award-nominated newsletter on artificial intelligence, The Algorithm. Your support also helps sustain our mission-driven journalism. https://t.co/JmdZJSFSsm

More from Economy

tadzio_mueller
tadzio_mueller
@MuellerTadzio
Until 2050 we'll likely see "a #supercycle in investments in 'clean' energy infrastructure, 'clean' transportation & everything that's required for the '#green' transition."

There's so much bullshit in here, I'll unpack some of it in a

2/x

1st (cf. @MGSchmelzer): there is no reason to assume that a massive productivity- & hence production-boom will lead to reduced emissions, because it will increase production&growth, & it is those two variables that global greenhouse emissions track most closely. #Degrowth.

3/x

Every time capitalism has made massive productivity gains (e.g. w/ the #steamengine; the taylorist #assemblyline; computers), that has led to a *radicalisation* of capitalism as a mass production system (as opposed to earlier versions, where luxury goods were for elites),...

4/x

So there's no reason believe that a new round of capitalist accumulation (#accumulationbydispossession / #primitiveaccumulation) - in this case: some kind of "#greencapitalism - will in any way positively impact emissions rates, but every reason to believe the opposite...

5/x

I would like to look into this, as it speaks to an often-overlooked issue: the relationship between different phases of capitalist development, such as imperialism, fordism, & post-fordism, connected to energy regimes (coal-based, oil-based, renewables-based capitalism)?
ECONOMY
TraderLion
TraderLion
@TraderLion_
Why do we track institutional footprints? 🐘 (Thread)

Large institutions like mutual funds, hedge funds, banks, insurance companies, trusts, etc. amount for over 75% of all volume. These institutions move the market, not you and I.

It makes sense that if these guys are moving the markets, we would ideally want to buy the same stocks they are buying, but before they buy them? Right?

So, let’s get a clear understanding of how and why this is so important and what this might look like behind the scenes.

For starters, let’s discuss what we mean by a large institution. In this case, we are referring to the many funds, pensions, trusts, etc. that are responsible for managing tens, if not hundreds of billions of dollars.

Hence, they easily attract and can afford to retain the planet’s top talent, not to mention, their research budgets are enormous.

They have access to information and resources that the retail crowd simply does not, and if they did, it would likely be extremely unaffordable.
ECONOMY , TRADERLION
Advertisement
Cory Doctorow #BLM
Cory Doctorow #BLM
@doctorow
One of the arguments for permitting monopolies is that they are "efficient." That's the logic under which Universal was allowed to acquire Comcast and NBC - the "vertical integration" would make all three companies better and we'd all reap the benefit.

1/


It turns out that there are DISeconomies of scale, what Brandeis called "the curse of bigness" and really, the Universal-NBC-Comcast octopus is a poster child for that

Comcast has just informed its subscribers that they are at risk of losing access to "Bravo, CNBC, E!, Golf Channel, MSNBC, Olympic Channel, Oxygen, Syfy, Telemundo, Universal Kids, NBC Universo, USA Network and NBC Sports

That is, Comcast has warned its customers that Comcast might not license its channels to Comcast anymore.

This is a "carriage dispute" - a dispute over how much the cable operator will pay the broadcaster. It's a common dispute to have.

4/

But in this case, Comcast's dispute is over the accounting fiction of how much one division of a vertical monopolist will nominally charge another to access its products.

5/
ECONOMY
jerry
jerry
@ThinkingLSD
Let's discuss how little you actually understand about economics and energy.

The first thing to understand is that energy is not globally fungible. Electricity decays as it leaves its point of origin; it’s expensive to transport. There is a huge excess (hydro) in many areas.


In other words, it can also be variable. It's estimated that in Sichuan there is twice as much electricity produced as is needed during the rainy season. Indeed, there is seasonality to how Bitcoin mining works. You can see here:

Bitcoin EXPORTS energy in this scenario. Fun fact, most industrial nations would steer this excess capacity towards refining aluminum by melting bauxite ore, which is very energy intensive.

You wouldn't argue that we are producing *too much* electricity from renewables, right?

"But what about the carbon footprint! ITS HUGE!"

Many previous estimates have quite faulty methods and don't take into account the actual energy sources. Is it fair to put a GHG equivalent on hydro or solar power? That would seem a bit disingenuous, no?

Well that's exactly what some have done.
ECONOMY
Ndegwa Power
Ndegwa Power
@ndegwapower
Thread: Why Kenya and other countries are introducing Digital Taxes? Why now?

Now,the current tax laws & international tax framework (which dates back to the 1920s) was designed at a time when businesses were largely brick-and-mortar (physical stores).Then, it was unimagineable for a biz to operate in another country without some form of physical presence

Thus, in most countries, for a business to be pay corporate tax it has to have some form of nexus there (e.g. Kenya). Either it's registered here, or it's managed from here or it has what we call a permanent establishment (also implies some form of physical presence)

Fast forward to today, there are numerous companies that are able to operate in multiple countries without having any physical presence in those countries. Consider social media platforms or streaming services, with a device, connection & subscription you can access their service

...and they don't have to have any physical office or employees etc in Kenya for them to deliver the service to you. I mentioned above that to be subject to corporate tax here, a company would have to have some form of nexus here in Kenya, these companies, don't.
ECONOMY

You May Also Like

Mystery Grove Publishing Co.
Mystery Grove Publishi...
@MysteryGrove
By popular demand, here is the official Mystery Grove Film Recommendations list. Watch all of these in order if you want to truly understand the world we live in today.
CULTURE
Jeet Heer
Jeet Heer
@HeerJeet
1. Now that Stan Lee is being eulogized far and wide, it's important to remember how marginal Stan Lee and his collaborators (Jack Kirby and Steve Ditko) were in the 1950s and 1960s.

2. Marvel Comics (before that Atlas) was just a cog in the machine of a bottom pulp publisher run by Martin Goodman, the husband of one of Lee's cousins. It was the lowest of the low in the publishing world.

3. Now Mario Puzo (not yet the author of the Godfather) shared offices with Stan Lee in the 1950s and 1960s. Puzo wrote for garrish men's adventure magazines and, like Lee, dreamed of writing a novel & breaking out. But Puzo looked down on Lee.

4. Flo Steinberg, 1960s secretary at Marvel: "They were always making jokes about us. They'd come in and giggle. mario Puzo would look in and would see us all working on his way to the office and say, 'Work faster, little elves. Christmas is coming.'"

5. When JFK was killed, the whole office of Magazine Management was stunned and quiet. Except Lee. He continued working. "He was still working on the comic books," Puzo said. "Like that was the most important thing in the world."
CULTURE
Advertisement
Mitesh Patel
Mitesh Patel
@Mitesh_Engr
How to sell option?
Here let me explain through simple math.
Say BN at 30000
30000 straddle trading at combine premium 800 ( based on current volatility)
Put at 400
Call at 400
You don’t know direction. Sold both.

If move will not come than both will decrease gradually.

At day end it will come down to 720-740 if move will not come. Difference is your profit.

Now case 2:
Move started.
At one points combine premium will start increasing.
Say 810.
Exit immediately. No need to do adjustment.
Let market settle.

Sell again straddle once market settle.
Now repeat same thing.

Straddle selling webinar over.
Good luck.

One can keep SL 550 for both strike to escape from sudden movement.
OPTIONSLEARNING , MITESHOPTIONS
Dr Amanda Moehring
Dr Amanda Moehring
@FlyBehaviour
In Academia, people aren’t always supported when they need it. I want to share what @WesternU did when my husband died right after the pandemic shutdown. It should be shared with other uni’s as a model for empathy and proactive care when someone is in crisis.
1/
#AcademicChatter
SCIENCE
Suchi Sharma
Suchi Sharma
@Suchi_sharma_
#THREAD
1.Meenakshi Amman Temple(472ft High)also called as Meenakshi Sundareswarar is a famous Hindu temple located on the southern bank of Vaigai River in temple city of Madurai, #TamilNadu.It is dedicated to Parvati(Meenakshi)& her consort Shiva(Sundareswarar). @LostTemple7


2.Madurai Meenakshi Sundareswarar temple was built by King Kulasekara Pandya (1190-1216 CE).This popular temple visits over 15000 visitors daily & around 25000 on #Friday !Friday sees the most number of devotees visit the temple with the number going as high as +25,000.


3.Meenakshi Temple also hosts an annual festival called Meenakshi Thirukalayanam that is held in April. A celestial wedding of the god and goddess marks the end of the festival. About 1 million devotees visit the temple during this festival.


4.the temple has been tagged as one of the seven wonders of India along with stunning Architecture.The temple is built using Dravidian South Indian style of architecture, and is one of the most impressive temple structures in South India.


5.The principle deity here is MEENAKSHI, a form of Goddess Parvati. The idol of the goddess is carved in emerald hued stone. The Meenakshi idol has 3 breasts as Meenakshi was born with three breasts and was blessed that the 3rd breast would vanish once meets right man of her life
HISTORY