Here's a fascinating profile on radical Santa Fe Institute economist Samuel Bowles, an empiricist who says his research doesn't support the Chicago School efficient marketplace hypothesis. Instead, Bowles argues that the wealth inequality created by strict market economics creates inefficiencies because society has to devote so much effort to stopping the poor from expropriating the rich. He calls this "guard labor" and says that one in four Americans is employed to in the sector -- labor that could otherwise be used to increase the nation's wealth and progress.
The greater the inequalities in a society, the more guard labor it requires, Bowles finds. This holds true among US states, with relatively unequal states like New Mexico employing a greater share of guard labor than relatively egalitarian states like Wisconsin.
The problem, Bowles argues, is that too much guard labor sustains "illegitimate inequalities," creating a drag on the economy. All of the people in guard labor jobs could be doing something more productive with their time--perhaps starting their own businesses or helping to reduce the US trade deficit with China.
Guard labor supports what one might call the beat-down economy. Community Action's Porter sees it all the time.
"We have based almost everything we have done on the idea that we always need a part of our workforce that is marginalized--that we can call this group into action at any time, pay them nothing and they will do anything that needs to be done," she says.
More discouraging, perhaps, is the statistical fact that a person born into this workforce has little chance of rising beyond it.
Despite Trump’s denial of climate change the the ghastly attacks on climate science and mitigation in the new proposed budget, the Carbon Bubble — which overprices hydrocarbons and the industries that rely on them, as though we’ll be burning all of them with impunity — is about to pop.
South American polka dot tree frogs are pretty cool, but Julián Faivovich and Carlos Taboada found out they are even cooler when an ultraviolet flashlight is trained on them. They fluoresce. Many animals can see beyond the spectrum visible to humans, and these frogs adapted with this trait. From the abstract: Fluorescence, the absorption of […]
A small (51 men aged 24 +/- 3 years) study published in Neuron tasked experimental subjects with practicing the ancient Greek mnemonic technique of “memory palaces” and then scanned their brains with functional magnetic resonance imaging, comparing the scans to scans from competitive “memory athletes” and also measuring their performance on memorization tasks.
The Lightning port has thus far resisted the cruel fate that befell the headphone jack, and despite rumors that it may be disappearing come iPhone 8, for the present and foreseeable future, Lightning cables are a hot commodity for iPhone users. As such, we must make do in this strange time in which long, glorified […]
All the filters in the world won’t save your smartphone pics from a shaky hand. To really step up your mobile photography game, you’ll need some kind of mount to hold it steady. You could buy a smartphone attachment for a conventional camera tripod, but who wants to carry that kind of gear everywhere they […]
The forced transition from analog to digital TV signals was probably met with relative indifference from people with Netflix subscriptions and the “I don’t even own a TV” snoots. But anyone living in the vast swaths of the country that don’t have guaranteed high-speed internet, broadcast TV is a perfectly valid (and 100% free) way […]