The BBC reports on a cyber cafe outside Tokyo that has a dark room divided into tiny cubicles where 60 people "who rarely emerge" live. These folks are called cyber drifters and "they have just enough money to stay off the streets." It costs $500 a month to live in one of these "coffin-size booths," which have no natural light or fresh air. "In Tokyo it doesn't get any cheaper than that, or more claustrophobic." The owner of the cyber cafe is making a tidy sum off the rent: 60 X $500 = $30,000
Compared to 75 years ago, Americans spend less on reading, alcohol, tobacco, clothing, and food. They spend more on education, entertainment, and transportation, but the real bank-breaker is how much more Americans spend on housing, even adjusted for inflation.
I’m at Institute for the Future in Palo Alto, CA today (I’m on staff) at the Positive Platform Design Jam, where we had Cornell historian Louis Hyman give a presentation called “Unnatural Capitalism: How the New Deal Reinvented Capitalism and Why We Need to Do It Again.” You can watch a video recording of his […]
UC Irvine economist Peter Navarro, a hand-picked Trump economic advisor: “Navarro has never met Trump in person. And as for speaking with him by phone, he acknowledges, ‘I have never had the pleasure.'”
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