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.
Urine is golden so it must have some link to gold, thought medieval alchemists seeking to devise methods to transmute base metal into gold. Not quite, but they did discover that pee is rich with the miraculous bearer of light, aka phosphorus. (American Chemical Society)
I’ve heard — and repeated — the theory that addiction rates among indigenous people in the Americas was caused by genetics — specifically, that “new world” populations hadn’t gone through the European plague years’ genetic bottleneck that killed everyone who couldn’t survive on alcoholic beverages (these having been boiled during their production and thus less […]
The PocketLab is billed as a “Swiss Army Knife of science.” Launched via Kickstarter, the small device contains numerous sensors to measure acceleration, force, angular velocity, magnetic field, pressure, altitude, and temperature and send that data to smartphones or laptops. According to inventor Clifton Roozeboom, it’s a tool for students and citizen scientists who can’t […]
The Lytro Illum dares to be different, boasting even more robust features than its first generation predecessor and a sleek design reminiscent of professional DSLRs. What’s so cool about it? Most cameras capture the position of light rays, producing a statoc 2D image.
SitePoint Premium is the ultimate e-learning library for web developers, designers, and digital professionals. Famous for their web development books written by industry leaders, they’ve expanded their content library to include in-depth video courses and short, handy screencasts partnering with A Book Apart and UX Mastery. Whatever you want to achieve in your web career, […]
Skip the technical jargon and get right to taking amazing, professional-quality photos with this complete training. The Hollywood Art Institute Photography Course includes 22 modules filled with tutorials on how to profit off of your photography, or simply capture your memories in the manner they deserve.Accredited by the Photography Education Accreditation CouncilDive into this 22 […]