Posts tagged economics

Since the top five per cent of households own almost two-thirds of the wealth, it stands to reason that most American households don’t own very much at all. But the figures that Yellen presented are still shocking. In 1989, the bottom half of the distribution owned just three per cent of all wealth. By 2013, that figure had fallen to one per cent. No, that’s not a typo: half the country owns one per cent of its wealth.

Rising Inequality: Janet Yellen Tells It Like It Is,, Janet Yellen, Federal Reserve, income inequality, wealth, class, money, economics, headlines,

The like and the favorite are the new metrics of success—very literally. Not only are they ego-feeders for the stuff we put online as individuals, but advertisers track their campaigns on Facebook by how often they are liked. A recent New York Times story on a krill oil ad campaign lays bare how much the like matters to advertisers. Liking is an economic act.

I Liked Everything I Saw on Facebook for Two Days. Here’s What It Did to Me,, Facebook, likes, social media, advertising, economics, brands, corporations, headlines,

A Marxist upbringing, graduating into a recession, and a lineage of missed opportunities make a brutal combination.

"Thoroughly Modern Marxism" by Lucy Morris, Lucy Morris, Marxism, family, academia, politics, philosophy, economics, personal essays, features,

Ever wondered what the World Cup is worth? When Italian sculptor Silvio Gazzaniga designed the current trophy in 1971, it was worth US$50,000. Now the trophy is estimated to be worth US$10m. The World Cup is, however, worth much more than two human figures cast in 18 carat gold.

Hard Evidence: what is the World Cup worth?,, World Cup, soccer, futbol, FIFA, economics, money, headlines,

The genre holds less sway in the ravaged postindustrial places of its birth, but remains insanely popular in Scandinavian countries known for their relative wealth, robust social safety nets, and incredibly high quality of life.

Heavy-metal music is a surprising indicator of countries’ economic health,, heavy metal, metal, music, economics, infographics, headlines,

How do you sound clever and au courant in 2014? Easy. You talk knowingly about Capital in the 21st Century, the seminal, magisterial, definitive, landmark, pick-your-coverblurb-adjective book by French academic Thomas Piketty.

Ten handy phrases for bluffing on Thomas Piketty’s ‘Capital in the Twenty-First Century’,, Thomas Piketty, capital, books, bluffing, economics, headlines,

Nigeria has a deserved reputation for corruption, so a sceptic might think the doubling of its economy a result of fiddling the numbers. In fact it is the old numbers that are dodgy.

How Nigeria’s economy grew by 89% overnight,, Nigeria, Africa, GDP, economics, headlines,

Two-thirds of people choose kosher products because they believe that they are made with high-quality ingredients. Economics of the matzo market.

6economics, market research,