In this week's New York Times column, Nobel-winning economist Paul Krugman debunks the idea of heavy government cuts as a way to economic recovery:
The key point is that while the advocates of austerity pose as hardheaded realists, doing what has to be done, they can't and won't justify their stance with actual numbers -- because the numbers do not, in fact, support their position. Nor can they claim that markets are demanding austerity. On the contrary, the German government remains able to borrow at rock-bottom interest rates.
So the real motivations for their obsession with austerity lie somewhere else.
In America, many self-described deficit hawks are hypocrites, pure and simple: They're eager to slash benefits for those in need, but their concerns about red ink vanish when it comes to tax breaks for the wealthy. Thus, Senator Ben Nelson, who sanctimoniously declared that we can't afford $77 billion in aid to the unemployed, was instrumental in passing the first Bush tax cut, which cost a cool $1.3 trillion.
Vox parsed out the Bureau of Justice Statistics’ numbers on incarceration in prisons (excluding jails) and produced this ghastly visualization tracking the transformaiton of America into the country with the highest rate of incarceration in the history of the world.
The McClatchy Company, a chain of more than 30 U.S. newspapers, is expected to close its foreign bureaus by the end of the year. The media giant’s chief executive denies the rumors, but it kind of sounds like the closures are likely anyway.
Online retail giant Amazon just launched a marketplace for handcrafted goods: Handmade at Amazon. It’s “an arts-and-crafts bazaar online that squarely takes aim at a niche but growing market dominated by the Brooklyn-based Etsy,” as the New York Times puts it. Handmade at Amazon went live early Thursday more than 80,000 items from roughly 5,000 […]
This Smartphone Photo Lens Kit arms you with six unique smartphone photography accessories, so you can take high-quality and well-composed photos of any subject from small insects to expansive landscapes.6 unique lensesRolls up neatly for transportTripod for stabilitySmall lenses attach seamlessly with magnetMicroscope and 8x telephoto lenses attach with a case (case attaches to phone)Lens wallet […]
Inspired by the universality of symbols, the founders of Noun Project began to collect thousands of hand-drawn icons. The concept has since transformed into a massive digital collection of 150,000+ unique icons that fuel the work of designers every day. Spend less time crafting icons and more time putting amazing designs out into the world with […]
You won’t need to think twice about going hands-free on the road with Exomount’s easy-to-use car mount. It mounts your smartphone so easily, you literally only need one hand to quickly secure your phone in the perfect position and get driving. Don’t risk a ticket, use the world’s best suction technology to effortlessly mount and […]