QUOTE OF THE DAY
"...life is the ultimate asset and liability mismatch." - Cullen
Roche
CHART OF THE DAY
SOCIETY AND CAPITAL
How Syphilis Came Roaring Back, TheAtlantic. "While the rates haven’t climbed close to the devastating
levels of the early 1990s, they’re rising at an alarming rate."
Experiences Over Stuff Is a Tired—and Sexist—Idea,
Slate.com. "There’s that. And then
there’s also that experiences aren’t the antithesis of stuff. Experiences are
facilitated by stuff no more or less than domestic life is facilitated by
stuff. It’s just different kinds of stuff."
Why we trust, and why that’s changing online, cjr.org. “The
thing is that your magazine is not as powerful anymore because this [is] the
magazine,” he said, holding up his iPhone.
War, on drugs.
Aeon.co. "Killing people is
hard and horrible. No wonder that warriors, from berserkers to jihadis, need
drugs to get in the mood"
Update on the Income Share of the 1%, ConversableEconomist.
NYT on zoning, John Cochrane. "a growing body of
economic literature suggests that anti-growth sentiment... is a major factor in
creating a stagnant and less equal American economy." "Stop and rejoice. This is, after all,
the New York Times, not the Cato Review"
More Americans Are Upper Middle Class,
squaredawayblog.com "Yes, income
inequality has risen dramatically over the past 35 years. But something else
has happened that might surprise you."
This Map Shows the Average Income of the Top 1% by Location,
Visual Capitalist.
The Problem With Linking Spending to Sacrifice,
thebillfold.com
Behavioral Economics: Past, Present and Future, Thaler. "If everyone includes all the factors
that do determine economic behavior, then the field of behavioral economics
will no longer need to exist."
19 Weird Crowdfunding Campaigns That Failed Spectacularly.
VisualCapitalist.com
Kitchen Table Politics: Can Americans Afford To Retire?
FiveThirtyEight.
US Financial Literacy: Distressing and Disempowering,
ConversableEconomist.
Why Does Time Seem to Speed Up with Age? Scientific
American.
If It Doesn’t Suck, It’s Not Worth Doing, medium.com "According
to psychological research, the anticipation of an event is almost always more
emotionally powerful than the event itself."
Make elites compete: Why the 1% earn so much and what to doabout it, brookings.edu. " The real
cause of elite inequality is the lack of open access and market competition in
elite investment and labor markets. To bring the elite down to size, we need to
make them compete." [hmmm]
The Myth of the Millennial Entrepreneur, theatlantic.com.
The Richest Generation in U.S.History Keeps Getting Richer, ThinkAdvisor.
" Even after they retire, affluent Americans are growing wealthier,
thanks to the strong stock market"
Healthcare and Consumption with Aging, Guasoni and
Huang. " Health-care slows the
natural growth of mortality, indirectly increasing utility from consumption
through longer lifetimes. This paper solves the problem of optimal dynamic
consumption and healthcare spending with isoelastic utility, when natural
mortality grows exponentially to reflect the Gompertz' law. Optimal consumption
and healthcare imply an endogenous mortality law that is asymptotically
exponential in the old-age limit, with lower growth rate than natural mortality.
Health spending steadily increases with age, both in absolute terms and
relative to total spending. Differential access to healthcare with isoelastic
effects can account for observed longevity gains across cohorts."
Of the people: Federal and local government employment, [graphic] The
FRED Blog.
Explained by Graphics: Tension in the South China Sea, Visual Capitalist.
One striking chart shows why pharma companies are fightinglegal marijuana, WashPost. " There's
a body of research showing that painkiller abuse and overdose are lower in
states with medical marijuana laws. "
The 0.0001 Percent, [graphic] CIO.
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