Trading, Economics, Regulation

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Market Capitalization

Tesla Model 3 Costs More To Charge Than A Gasoline Car

Investors who take it for granted that electric cars are cheaper to run, need to think again.<p>A comparison between Tesla Model 3 and the three leading …

Electric Vehicles

Why are people still using so much cash?

Bitcoin bitcoin bitcoin. All I ever hear about it bitcoin. (And when it’s not bitcoin, it’s often other cryptocurrencies.) But there is another means of payment that doesn’t get as much love, despite growing in popularity. It’s called cash.<p>According to a new report by the Bank for International …

Finance

He attends elite UC Berkeley but lives in a trailer with no heat or sewer hookups. Soon, he'll be scrambling to find new shelter

Ismael Chamu wakes up at sunrise, shivering in the drizzly morning’s chill. He rises from the floor of a small trailer, where he sleeps wedged next to his younger brother and an arm’s length from his two sisters, who share the only bed.<p>As he cooks breakfast, the smell of scrambled eggs and ripe …

Uber Better Not Be the Future of Work

The ride-hailing service requires a commitment to a bad business decision.<p>A study by the Massachusetts Institute of Technology’s Center for Energy and Environmental Policy Research made a splash the other day when it claimed that the median pay of an Uber or Lyft driver in the U.S. is only $3.37 an …

Driverless Cars

The dangerous social cycle that makes us buy things we don't need

Despite composing several famous works, the French philosopher Denis Diderot spent the majority of his life in poverty.<p>Like many Enlightenment thinkers of his time, Diderot had little concern for material possessions. That changed when he received a new scarlet robe from his friend as a gift.<p>The …

Demonstration

If you’re so smart, why aren’t you rich? Turns out it’s just chance. - MIT Technology Review

The distribution of wealth follows a well-known pattern sometimes called an 80:20 rule: 80 percent of the wealth is owned by 20 percent of the …

Income Inequality

Uber drivers often make below minimum wage, report finds

Some drivers end up losing money after insurance, maintenance and other costs, according to study raising concerns over labor standards<p>Uber and Lyft drivers in the US make a median profit of as little as $8.55 per hour before taxes, according to a new report that suggests a majority of ride-share …

Economics

Why Should We Give More Power to Those Who Presume to Rule But Can’t Even Govern?

The left has reached new heights in its paroxysms of rage in the aftermath of the Parkland mass school shooting. But anger and over-the-top virtue …

Digital Currencies

John Major's astonishing Brexit speech attacking Theresa May in full

I would like to express my thanks to the Creative Industries Federation, Somerset House Trust, and Tech London Advocates for the opportunity to speak …

Tax Hikes and More Welfare Are Making Sweden Great Again, Minister Says

Higher taxes and a relentless fight against inequality are making Sweden great again.<p>That’s the opinion of the country’s finance minister, Magdalena …

Economics

People in Sweden Now at Risk of Losing Access to Notes

People living in the world’s most cashless society may soon lose their access to notes and coins.<p>To avoid that extreme scenario, Swedish …

Central Banks

What Critics Don't Understand About Gun Culture

I carry a weapon—and it’s tied me closer to my community.<p>My wife knew something was amiss when the car blocked our driveway. She was outside our house, playing with our kids on our trampoline, when a car drove slowly down our rural Tennessee street. As it reached our house, it pulled partially in …

Guns

Mexican president’s meeting with Trump is called off over the border wall. The same thing happened last year.

In 2017, they cancelled on Twitter.<p>Mexican President Enrique Peña Nieto is 0 for 2 for actually making it to a meeting with at the White House. He called off plans to travel to Washington, DC after a testy call over Trump’s border wall. If that story feels familiar, it’s because it is: Around this …

Donald Trump

Airlines' Latest Sneaky Trick: Charging Passengers According to Who They Are, Not Where They're Flying

How low can they go? Look down. Keep looking.<p><i>Absurdly Driven</i> <i>looks at the world of business with a skeptical eye and a firmly rooted tongue in cheek.</i><p>Have you ever been ignored in a restaurant?<p>Have you walked into a fancy store and the clerks took one look at you and decided that you're not rich …

Frequent-flyer Programs

Banks are mulling a creative way to enforce gun control even if the US government doesn't make a single change

Last week's deadly shooting at a Florida high school has renewed calls for gun-control legislation — but some finance-industry titans could take the issue into their own hands.<p>The New York Times columnist Andrew Ross Sorkin wrote on Monday that he had spent several days speaking with "a handful of …

Gun Control

‘No Cash’ Signs Everywhere Has Sweden Worried It’s Gone Too Far

“No cash accepted” signs are becoming an increasingly common sight in shops and eateries across Sweden as payments go digital and mobile.<p>But the pace …

Central Banks

What is Modern Monetary Theory, or “MMT”?

<i>By Dale Pierce. Cross posted from New Economic Perspectives</i><p>Modern Monetary Theory is a way of doing economics that incorporates a clear understanding …

What students know that experts don't: School is all about signaling, not skill-building

Parents, teachers, politicians and researchers tirelessly warn today's youths about the unforgiving job market that awaits them. If they want to succeed in tomorrow's economy, they can't just coast through school. They have to soak up precious knowledge like a sponge. But even as adulthood …

Ranking the Most (and Least) Productive Countries

Ranking which countries get work done (and which ones don't).

Time Management

Money creation in the modern economy

By Michael McLeay, Amar Radia and Ryland Thomas of the Bank’s Monetary Analysis Directorate.<p>This article explains how the majority of money in the …

Bitcoin Isn't the Future of Money

How should central banks proceed with cryptocurrencies? Very carefully.<p>If the Bitcoin bubble has a redeeming feature, it's that it has started some interesting conversations. One is about whether governments should get into the cryptocurrency business for themselves.<p>The unsatisfying (though …

Bitcoin
Housing

What's a 'Term Premium,' and Where Did Mine Go?

Plenty of things that were taken for granted in the financial world before the crisis of 2008 no longer apply. Among the missing: the term premium, …

Economics
Theology

Living in a parking lot amid Santa Barbara's wealth is a kind of middle-class homelessness

Kathy is a senior citizen, Marva is a nurse, Santiago is a chef and Luis is an eighth-grade student.<p>All of them live in Santa Barbara with one thing in common.<p>When night falls, they head to designated parking lots and sleep in their vehicles, all clients in the region's Safe Parking program.<p>"I was …

The US middle class is disappearing, which makes dollar stores very happy

As more and more US department stores close and malls are mothballed, Amazon is being blamed for the “retail apocalypse” (paywall). But there’s another dynamic crippling American retailers—a shrinking middle class exacerbated by a widening inequality gap. Between 1971 and 2015, the share of US …

eCommerce

CHART: The 17 US companies with the biggest piles of cash

American companies are hoarding cash like crazy — but a huge chunk of that change isn't held in the US.<p>Under the newly approved Senate tax plan, passed in the early hours of Saturday morning, companies would be given the chance to bring home cash stored overseas at a one-time discounted …

Bank of America