The World Wealth and Income Database: data and visualizations from 110 researchers in 70 countries

Thomas "Capital in the 21st Century" Piketty endorses the World Wealth and Income Database, where you will find "open and convenient access to the most extensive available database on the historical evolution of the global distribution of income and wealth, both within countries and between countries" in English, with upcoming translations in Chinese, Spanish, Arabic and French. Read the rest

The average FTSE 100 boss earns as much in 2.5 days as his (yes, his) median employee earns in a year

The great recession and austerity have been very good to the chief executives of Britain's biggest companies: according to the High Pay Center, the average compensation for FTSE 100 CEOs rose 10% in 2015, to £5.5m -- meanwhile, UK workers' wages have stagnated year on year, averaging £28,200. Read the rest

AI Alarmism: why smart people believe dumb things about our future AI overlords

Maciej Cegłowski (previously) gave this talk, "Superintelligence: The Idea That Eats Smart People," at Web Camp Zagreb last October, spending 45 minutes delving into the origin of the idea that computers are going to become apocalyptic, self-programming, superintelligent basilisks that end all live on Earth (and variations on this theme) and then explaining why this fundamentally evidence-free, fuzzy idea has colonized so many otherwise brilliant people -- including people like Stephen Hawking -- and why it's an irrational and potentially harmful belief system. Read the rest

Indiana's "educational achievement" bonuses: teachers in rich schools get 20x more than those in poor districts

Indiana is one of many GOP-led states that assume that the poor performance of schools in poor neighborhoods is the fault of bad teaching -- and not, say, systemic poverty, the absence of funds raised by rich parents, hunger, mass incarceration -- and so teachers are offered bonuses for "improving" their students' outcomes, which generally means their standardized test scores (since presumptively bad teachers can't be trusted to evaluate their students' qualitative improvements). Read the rest

Tim Cook confirms: tech met with Trump to ask for billions in tax breaks

A leaked memo from Apple CEO Tim Cook to his staff explaining why he met with Donald Trump -- a guy who called Apple traitors for refusing to defeat their own security -- explains the rationale: "tax reform." Read the rest

Politics got weird because neoliberalism failed to deliver

Ian Welsh says that the USSR collapsed because its promises -- "a cornucopia and a withering away of the state" -- conspicuously failed to materialize; now, neoliberalism's promises ("If the rich have more money, they will create more jobs; Lower taxes will lead to more prosperity; Increases in housing and stock market prices will increase prosperity for everyone; Trade deals and globalization will make everyone better off") are likewise being shown to be lies, and so we're in crisis. Read the rest

Novum Pharma's $240, semi-useless acne cream now costs $10,000/tube

The cost of Aloquin -- an acne cream based on iodoquinol and aloe, whose component ingredients cost virtually nothing -- was raised by 128% this week by manufacturer Novum Pharma, who now charge $9,561 for a 60g tube. Read the rest

How surveillance capitalism tracks you without cookies

Princeton computer science researchers Steven Englehardt and Arvind Narayanan (previously) have just published a new paper, Online tracking: A 1-million-site measurement and analysis, which documents the state of online tracking beyond mere cookies -- sneaky and often illegal techniques used to "fingerprint" your browsers and devices as you move from site to site, tracking you even when you explicitly demand not to be track and take countermeasures to prevent this. Read the rest

Watch: Artists and celebrities expose the TPP

Evan from Fight for the Future writes, "What do comedian Hari Kondabolu, Lost star Evangeline Lilly, a Navajo punk band, and one of the dudes from Chumbawamba have in common? They're all part of a nationwide tour to raise awareness about the dangers of the Trans-Pacific Partnership (TPP) agreement: Rock Against the TPP." Read the rest

Monopoly power and the decline of small business: big business vs democracy, growth & equality

In the 15 years between 1997 and 2012: 72,000 small US manufacturers shut down; as did 108,000 local retailers and 13,000 community banks (fully half of America's complement of small banks!). The number of US startups has dropped by 50% since 1970. These statistics are not the result of the changing times: they're due to massive, monopolistic corporations stacking the deck against small competitors through unfair and corrupt practices, to the detriment of American growth, equality and democracy. Read the rest

For 90 years, lightbulbs were designed to burn out. Now that's coming to LED bulbs.

In 1924, representatives of the world's leading lightbulb manufacturers formed Phoebus, a cartel that fixed the average life of an incandescent bulb at 1,000 hours, ensuring that people would have to regularly buy bulbs and keep the manufacturers in business. Read the rest

Tenant farmers: how "smart" agricultural equipment siphons off farmers' crop and soil data

The agricultural sector is increasingly a data-driven business, where the "internet of farming" holds out the promise of highly optimized plowing, fertilizing, sowing, pest-management and harvesting -- a development that is supercharging the worst practices of the ag-business monopolies that have been squeezing farmers for most of a century. Read the rest

Customer support is deliberately unbearable (unless you complain in public)

Companies that lock you in with long-term contracts (mobile phones) or have a monopoly over your business (cable) carefully calculate exactly how terrible their customer service can be before you incur the pain of trying to get out of your contract or find an alternative. Read the rest

Not robots: youth unemployment caused by late retirement, driven by pension precarity

If youth unemployment -- and the lack of good entry-level jobs for college grads -- was being driven by workplace automation, American productivity (value created per hour worked) would be soaring, rather than stagnating. Read the rest

It's getting harder and harder to use gag clauses to silence laid off workers in America

In America, it's common practice to make severance pay for laid-off workers contingent on signing a "nondisparagement clause" that prohibits workers from ever speaking ill of their former employers -- some contracts I've seen even prohibit revealing the existence of these clauses, combining silence with secrecy. A winning combination if you're a rapacious corporation engaged in legally questionable labor practices. Read the rest

Lin-Manuel Miranda declares war on bots

Lin-Manuel Miranda's musical Hamilton is arguably the most successful Broadway show of the century (deservedly so -- the soundtrack is practically all I've listened to for the past month) but good luck if you want to get a ticket. Read the rest

After the precariat, the unnecessariat: the humans who are superfluous to corporations

The heroin epidemic in America has a death-toll comparable to the AIDS epidemic at its peak, but this time, there's no movement coalescing to argue for the lives of the economically sidelined, financially ruined dying thousands -- while the AIDS epidemic affected a real community of mutual support, the heroin epidemic specifically strikes down people whose communities are already gone. Read the rest

More posts