The gender pay gap is not caused by women earning less than men for the same job. It is largely because women choose different careers and suffer a “motherhood penalty”’. Click here to subscribe to The Economist on YouTube: http://econ.st/2Bnu9E9 Women who work full-time, still earn 15% less than men. But that's not because they are paid less for the same jobs. It's because they're in different jobs. Women are in less senior jobs. In Britain, France and Germany, 80-90% of executive jobs are held by men. Women also tend to choose different occupations. In America over 80% of teachers, nurses, secretaries, and health workers are female and these jobs tend to be lower paid. Primary school teachers in the West earn nearly 20% less than the average graduate job. Nurses earn less than police officers. Cleaners less than caretakers. Women are as ambitious as men. They earn the majority of university degrees. In America, they now ask for promotions as often as men. But it's the price women pay for motherhood that holds them back. In Britain, 70% of mothers reduced their working hours or switched to a less demanding job compared with 11% of fathers. In Australia it's 56% of mothers and 19% of fathers, while in France 55% of mothers scaled back compared to 13% of fathers. When an American women goes back to work her salary is on average lower than it would have been if she hadn't had a child. The race for gender equality is far from over. As more children choose non-traditional careers and men do more childcare, fewer working women will be held back. Daily Watch: mind-stretching short films throughout the working week. For more from Economist Films visit: http://econ.st/2Bq9Q9n Check out The Economist’s full video catalogue: http://econ.st/20IehQk Like The Economist on Facebook: http://econ.st/2Bqvr16 Follow The Economist on Twitter: http://econ.st/2Bqvqdy Follow us on Instagram: http://econ.st/2BmFapk Follow us on LINE: http://econ.st/1WXkOo6 Follow us on Medium: http://econ.st/2BnC9VK
Views: 134008 The Economist
Why do women make less money than men? Is the gender pay gap a myth? Are women being descriminated against since they only earn about 80% of what average men earn? These are great questions. In this video, I share four reasons that economists give that explain why women make less money than men.It turns out that it has a lot to do with their choices and preferences. I've included links to articles, studies, and the data below. Thanks for watching. Full and Part-time Work https://www.bls.gov/opub/ted/2015/time-spent-working-by-full-and-part-time-status-gender-and-location-in-2014.htm Gender Bias Study http://www.pnas.org/content/109/41/16474.full College Majors http://www.payscale.com/college-salary-report/majors-that-pay-you-back/bachelors Occupations by Gender https://www.bls.gov/opub/ted/2012/ted_20120501.htm Occupation Deaths https://www.bls.gov/iif/oshwc/cfoi/cfch0006.pdf Infographic http://www.payscale.com/gender-lifetime-earnings-gap Women and Negotiation http://www.womendontask.com/stats.html Flexible Schedules https://scholar.harvard.edu/files/goldin/files/goldin_aeapress_2014_1.pdf Macroeconomics Videos https://www.youtube.com/watch?v=XnFv3d8qllI Microeconomics Videos https://www.youtube.com/watch?v=swnoF533C_c Watch Econmovies https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH Follow me on Twitter https://twitter.com/acdcleadership
Views: 48496 Jacob Clifford
This talk was given at a local TEDx event, produced independently of the TED Conferences. The Great Economic Myth of 2008, challenging the accounting to accounting principal. Brian Wesbury is Chief Economist at First Trust Advisors L.P., a financial services firm based in Wheaton, Illinois. Mr. Wesbury has been a member of the Academic Advisory Council of the Federal Reserve Bank of Chicago since 1999. In 2012, he was named a Fellow of the George W. Bush Presidential Center in Dallas, TX where he works closely with its 4%-Growth Project. His writing appears in various magazines, newspapers and blogs, and he appears regularly on Fox, Bloomberg, CNBCand BNN Canada TV. In 1995 and 1996, he served as Chief Economist for the Joint Economic Committee of the U.S. Congress. The Wall Street Journal ranked Mr. Wesbury the nation’s #1 U.S. economic forecaster in 2001, and USA Today ranked him as one of the nation’s top 10 forecasters in 2004. Mr. Wesbury began his career in 1982 at the Harris Bank in Chicago. Former positions include Vice President and Economist for the Chicago Corporation and Senior Vice President and Chief Economist for Griffin, Kubik, Stephens, & Thompson. Mr. Wesbury received an M.B.A. from Northwestern University’s Kellogg Graduate School of Management, and a B.A. in Economics from the University of Montana. McGraw-Hill published his first book, The New Era of Wealth, in October 1999. His most recent book, It’s Not As Bad As You Think, was published in November 2009 by John Wiley & Sons. In 2011, Mr. Wesbury received the University of Montana’s Distinguished Alumni Award. This award honors outstanding alumni who have “brought honor to the University, the state or the nation.” There have been 267 recipients of this award out of a potential pool of 91,000 graduates. About TEDx, x = independently organized event In the spirit of ideas worth spreading, TEDx is a program of local, self-organized events that bring people together to share a TED-like experience. At a TEDx event, TEDTalks video and live speakers combine to spark deep discussion and connection in a small group. These local, self-organized events are branded TEDx, where x = independently organized TED event. The TED Conference provides general guidance for the TEDx program, but individual TEDx events are self-organized.* (*Subject to certain rules and regulations)
Views: 2000973 TEDx Talks
This talk was given at a local TEDx event, produced independently of the TED Conferences. Litan's talk explores the surprising role economists have played in the development of the internet economy -- and quite possibly your love life. As an economist and attorney, Litan has had nearly four decades of experience in the worlds of the law, economic research and policy, and as an executive in the private, public and government sectors. He has directed economic research at three major organizations – The Brookings Institution, The Kauffman Foundation and Bloomberg Government – and authored or co-authored 27 books on a variety of economic topics. His most recent book, “The Trillion Dollar Economists,” will be published by Wiley Press this September. Litan currently is a non-resident senior fellow at Brookings; counsel to Korein Tillery, a law firm based in St. Louis and Chicago specializing in large case litigation; chief economist at Main Street Genome, a D.C.-based startup providing financial analytics to small businesses; and a regular contributor to the Think Tank blog published by The Wall Street Journal. About TEDx, x = independently organized event In the spirit of ideas worth spreading, TEDx is a program of local, self-organized events that bring people together to share a TED-like experience. At a TEDx event, TEDTalks video and live speakers combine to spark deep discussion and connection in a small group. These local, self-organized events are branded TEDx, where x = independently organized TED event. The TED Conference provides general guidance for the TEDx program, but individual TEDx events are self-organized.* (*Subject to certain rules and regulations)
Views: 281614 TEDx Talks
Adam Smith was no uncritical apologist for capitalism: he wanted to understand how capitalism could be both fruitful and good. If you like our films take a look at our shop (we ship worldwide): http://www.theschooloflife.com/shop/all/ SUBSCRIBE to our channel for new films every week: http://tinyurl.com/o28mut7 Brought to you by http://www.theschooloflife.com Produced in collaboration with Mike Booth http://www.YouTube.com/SomeGreyBloke #TheSchoolOfLife
Views: 988938 The School of Life
Subscribe to our channel: http://www.youtube.com/user/econstories If you enjoyed this video, you should watch this one next: http://youtu.be/Mq2iQAsJAhI Produced by Emergent Order. Visit us at http://www.emergentorder.com. Econstories.tv is a place to learn about the economic way of thinking through the eyes of creative director John Papola and creative economist Russ Roberts. Explore more at http://EconStories.tv In Fear the Boom and Bust, John Maynard Keynes and F. A. Hayek, two of the great economists of the 20th century, come back to life to attend an economics conference on the economic crisis. Before the conference begins, and at the insistence of Lord Keynes, they go out for a night on the town and sing about why there's a "boom and bust" cycle in modern economies and good reason to fear it. DOWNLOAD THE SONG in the highest quality possible here: https://itunes.apple.com/us/album/fear-the-boom-and-bust/id1177081191 Plus, to see and hear more from the stars of Fear the Boom and Bust, Billy Scafuri and Adam Lustick, visit their site: http://www.billyandadam.com Music was produced by Jack Bradley at Blackboard3 Music and Sound Design. It was composed and performed by Richard Royston Jacobs. **Charging Bull© Arturo DiModica, 1998
Views: 6676151 EconStories
Britons often grumble that Americanisms are creeping into British English. Lane Greene, our language guru, asks where American words really come from—and whether they pose a threat to the Queen's English. Click here to subscribe to The Economist on YouTube: http://econ.st/2AqhBvU Are American's trashing the English language? The Economists language expert, Lane Greene, knows a thing or two about English. Lane is a fan of words, lots of words, and Lane is an American living in London. He's become accustomed to British English slang. But Lane often hears Britons complain that there are too many American words and expressions creeping into British English, these are called Americanisms. British writer Matthew Engel can't stand Americanisms being used in Britain and even wrote a book about it. But are Americanisms trashing British English? Daily Watch: mind-stretching short films throughout the working week. For more from Economist Films visit: http://econ.st/2Ara5AI Check out The Economist’s full video catalogue: http://econ.st/20IehQk Like The Economist on Facebook: http://econ.st/2AqUmSm Follow The Economist on Twitter: http://econ.st/2ArMHmN Follow us on Instagram: http://econ.st/2AqI3oT Follow us on LINE: http://econ.st/1WXkOo6 Follow us on Medium: http://econ.st/2Aq65k7
Views: 185923 The Economist
Why economists and futurists disagree about the future of the labor market. Subscribe to our channel! http://goo.gl/0bsAjO Sources: https://economics.mit.edu/files/11563 https://www.aeaweb.org/full_issue.php?doi=10.1257/jep.29.3#page=33 http://voxeu.org/article/how-computer-automation-affects-occupations https://www.opensocietyfoundations.org/sites/default/files/future-work-lit-review-20150428.pdf https://obamawhitehouse.archives.gov/sites/whitehouse.gov/files/documents/Artificial-Intelligence-Automation-Economy.PDF https://www.vox.com/2015/7/27/9038829/automation-myth https://www.amazon.com/dp/B00PWX7RPG/ref=dp-kindle-redirect https://www.amazon.com/Second-Machine-Age-Prosperity-Technologies-ebook/dp/B00D97HPQI/ref=sr_1_1 https://www.amazon.com/New-Division-Labor-Computers-Creating/dp/0691124027/ref=sr_1_1? https://www.oxfordmartin.ox.ac.uk/downloads/academic/The_Future_of_Employment.pdf Clips: https://www.youtube.com/watch?v=VTlV0Y5yAww https://www.youtube.com/watch?v=_luhn7TLfWU https://www.youtube.com/watch?v=rVlhMGQgDkY https://www.youtube.com/watch?v=rCoFKUJ_8Yo https://www.youtube.com/watch?v=yeyn9zzrC84 https://www.youtube.com/watch?v=7Pq-S557XQU https://www.youtube.com/watch?v=WSKi8HfcxEk /// Recent advancements in artificial intelligence and robotics have commentators worrying about the coming obsolescence of the human worker. Some in Silicon Valley are even calling for a basic minimum income provided by the government for everyone, under the assumption that work will become scarce. But many economists are skeptical of these claims, because the notion that the the economy offers a fixed amount of work has been debunked time and time again over the centuries and current economic data show no signs of a productivity boom. Fortunately, we don't need to divine the future of the labor market in order to prepare for it. /// Vox.com is a news website that helps you cut through the noise and understand what's really driving the events in the headlines. Check out http://www.vox.com to get up to speed on everything from Kurdistan to the Kim Kardashian app. Check out our full video catalog: http://goo.gl/IZONyE Follow Vox on Twitter: http://goo.gl/XFrZ5H Or on Facebook: http://goo.gl/U2g06o
Views: 1429562 Vox
The Real Adam Smith: A Personal Exploration by Johan Norberg, takes an intriguing, two-part look at Smith and the evolution and relevance of his ideas today, both economic and ethical. It’s difficult to imagine that a man who lived with horse drawn carriages and sailing ships would foresee our massive 21st century global market exchange, much less the relationship between markets and morality. But Adam Smith was no ordinary 18th century figure. Considered the “father of modern economics,” Smith was first and foremost a moral philosopher. The revolutionary ideas he penned in The Wealth of Nations and The Theory of Moral Sentiments, changed the world. Norberg explores Smith’s insights regarding free trade and the nature of wealth to the present, where they are thriving and driving the world’s economy. In the second hour, Ideas That Changed The World, Norberg traces Smith’s insights regarding the benefits of free trade and the nature of wealth to the present, where they are currently in operation. He talks with some of the most distinguished Adam Smith scholars, as well as leaders of some of the world’s most admired companies to discover how Smith’s ideas continue to be relevant and drive the global economy today. Check out our Facebook page here: https://www.facebook.com/FreeToChooseNetwork Visit our media website to find other programs here: http://freetochoosemedia.org/index.php Connect with us on Twitter here: https://twitter.com/FreeToChooseNet Learn more about our company here: http://freetochoosenetwork.org Shop for related products here: http://www.freetochoose.net Stream from FreeToChoose.TV here: http://freetochoose.tv Learn more about Adam Smith here: http://therealadamsmithfilm.com
Views: 432120 Free To Choose Network
http://www.ted.com Freakonomics author Steven Levitt presents new data on the finances of drug dealing. Contrary to popular myth, he says, being a street-corner crack dealer isnt lucrative: It pays below minimum wage. And your boss can kill you. TEDTalks is a daily video podcast of the best talks and performances from the TED Conference, where the world's leading thinkers and doers are invited to give the talk of their lives in 18 minutes -- including speakers such as Jill Bolte Taylor, Sir Ken Robinson, Hans Rosling, Al Gore and Arthur Benjamin. TED stands for Technology, Entertainment, and Design, and TEDTalks cover these topics as well as science, business, politics and the arts. Watch the Top 10 TEDTalks on TED.com, at http://www.ted.com/index.php/talks/top10
Views: 1638816 TED
RenegadeInc.com brings you FOUR HORSEMEN - an award winning independent feature documentary which lifts the lid on how the world really works. As we will never return to 'business as usual' 23 international thinkers, government advisors and Wall Street money-men break their silence and explain how to establish a moral and just society. FOUR HORSEMEN is free from mainstream media propaganda -- the film doesn't bash bankers, criticise politicians or get involved in conspiracy theories. It ignites the debate about how to usher a new economic paradigm into the world which would dramatically improve the quality of life for billions. Subtitles available in English, French, Greek, Spanish and Portuguese. "It's Inside Job with bells on, and a frequently compelling thesis thanks to Ashcroft's crack team of talking heads -- economists, whistleblowers and Noam Chomsky, all talking with candour and clarity." - Total Film "Four Horsemen is a breathtakingly composed jeremiad against the folly of Neo-classical economics and the threats it represents to all we should hold dear." - Harold Crooks, The Corporation (Co-Director) Surviving Progress (Co-Director/Co-Writer) Follow us on https://www.twitter.com/Renegade_Inc on https://www.facebook.com/RenEconomist or visit our website http://www.renegadeinc.com Support us by subscribing here http://bit.ly/1db4xVQ
Views: 8271597 Renegade Inc.
In late 2015, JW Mason and Arjun Jayadev went to speak with Axel Leijonhuvud, in retirement in Pismo Beach, to ask about his work and the intellectual paths not taken after 1968. Over a couple of days with him and his wife Earlene, they covered a broad range of topics: his early life, his fortuitous entry into economics, his re-interpretation of Keynes, his affection for Hayek and relationship with him (including his remarkable interview with Hayek in the 1970s), his engagement and interpretation of the great Swedish economist Knut Wicksell his creative analysis of capitalist instability, his growing concerns with inflation as a topic, his animus to neoclassical models of production, the current state of academic macroeconomics, the place of schools of thinking and heterodoxy in reviving economics and his ideas for the teaching of economics. Of course this is the fundamental difficulty. There is a structure of law, which is supposed to embody the concepts of fairness that this society adheres to. And now you’re debating which way you are going to violate that and what is fair or unfair about that. So there aren’t going to be very clear answers. Reading Axel’s work has provided, for us, a thunderclap of clarity on several issues. We hope that the same is true for you as you engage with the mind and work of this true, great, original master of economics. For those interested in engaging more deeply with his work, we have created a collection of video, transcripts, and all of the articles that he has written. Many of these remain fruitful for students and scholars exploring how to move forward in economics. Learn more at: http://ineteconomics.org/ideas-papers/blog/the-road-not-taken
Views: 430 New Economic Thinking
For centuries, boys were top of the class. But these days, that’s no longer the case. A new study by the OECD, a club of mostly rich countries, examined how 15-year-old boys and girls performed at reading, mathematics and science. Boys still score somewhat better at maths, and in science the genders are roughly equal. But when it comes to the students who really struggle, the difference is stark: boys are 50% more likely than girls to fall short of basic standards in all three areas. Why are girls performing better at school than their male classmates? First, girls read more than boys. Reading proficiency is the basis upon which all other learning is built. When boys don’t do well at reading, their performance in other school subjects suffers too. Second, girls spend more time on homework. On average, girls spend five and a half hours per week doing homework while boys spend a little less than four and a half hours. Researchers suggest that doing homework set by teachers is linked to better performance in maths, reading and science. Boys, it appears, spend more of their free time in the virtual world; they are 17% more likely to play collaborative online games than girls every day. They also use the internet more. Third, peer pressure plays a role. A lot of boys decide early on that they are just too cool for school. They adopt a concept of masculinity that includes a disregard for authority, which means they’re more likely to be rowdy in class. Teachers mark them down for this. In anonymous tests, boys perform better. In fact, the gender gap in reading drops by a third when teachers don’t know the gender of the pupil they are marking. So what can be done to close this gap? Getting boys to do more homework and cut down on screen-time would help. And offering boys a chance to read non-fiction would help too: they’re keener on comics and newspapers. But most of all, abandoning gender stereotypes would benefit all students. Boys in countries with the best schools read much better than girls. And girls in Shanghai excel in mathematics. They outperform boys from anywhere else in the world.
Views: 167691 The Economist
Like the Austin Institute on Facebook: http://bit.ly/AtxInstitute Follow the Austin Institute on Twitter: http://bit.ly/AItweet The Research: http://www.austin-institute.org/ai-research-animates This Research Animate pulls together some of the key sexual economics arguments made by social scientists, including Roy Baumeister, Kathleen Vohs, Timothy Reichert, Mark Regnerus, and George Akerlof. Essential to the mission of the Austin Institute is the dissemination of both thought-provoking and rigorous academic research on family, sexuality, social structures and human relationships. In order to engage a wider audience, we are developing select research projects into a medium amenable to our digital age.
Views: 1829132 The Austin Institute
John Maynard Keynes was arguably the greatest economist of the 20th century. He discovered the idea that governments should stimulate demand during economic downturns – and was the creator of both the IMF and the World Bank. His ideas continue to underpin a lot of the modern economic system. If you like our films, take a look at our shop (we ship worldwide): https://goo.gl/C92mGs Join our mailing list: http://bit.ly/2e0TQNJ Or visit us in person at our London HQ https://goo.gl/VUCcPj FURTHER READING You can read more on this and other subjects on our blog, here: https://goo.gl/4vY9Wo MORE SCHOOL OF LIFE Our website has classes, articles and products to help you think and grow: https://goo.gl/fwVUx8 Watch more films on POLITICAL THEORY in our playlist: http://bit.ly/TSOLpoliticaltheory You can submit translations and transcripts on all of our videos here: https://www.youtube.com/timedtext_cs_panel?c=UC7IcJI8PUf5Z3zKxnZvTBog&tab=2 Find out how more here: https://support.google.com/youtube/answer/6054623?hl=en-GB SOCIAL MEDIA Feel free to follow us at the links below: Facebook: https://www.facebook.com/theschooloflifelondon/ Twitter: https://twitter.com/TheSchoolOfLife Instagram: https://www.instagram.com/theschooloflifelondon/ CREDITS Produced in collaboration with: Mike Booth https://www.youtube.com/somegreybloke Dr Chris Grocott http://www2.le.ac.uk/departments/management/people/chris-grocott https://leicester.academia.edu/ChrisGrocott #TheSchoolOfLife
Views: 439310 The School of Life
Groundbreaking research by Boston College economists Tayfun Sönmez and Utku Ünver sparks hope for patients with kidney disease while advancing the University's philosophy of "men and women for others." Video Produced by Sean Casey Office of University Advancement
Views: 2662 Boston College
Watch the latest in the Ocean series - What sharks reveal about the state of the Ocean: https://youtu.be/6xz1mxppMhY The ocean covers 70% of our planet. The deep-sea floor is a realm that is largely unexplored, but cutting-edge technology is enabling a new generation of aquanauts to go deeper than ever before. Click here to subscribe to The Economist on YouTube: http://econ.trib.al/rWl91R7 Beneath the waves is a mysterious world that takes up to 95% of Earth's living space. Only three people have ever reached the bottom of the deepest part of the ocean. The deep is a world without sunlight, of freezing temperatures, and immense pressure. It's remained largely unexplored until now. Cutting-edge technology is enabling a new generation of aquanauts to explore deeper than ever before. They are opening up a whole new world of potential benefits to humanity. The risks are great, but the rewards could be greater. From a vast wealth of resources to clues about the origins of life, the race is on to the final frontier The Okeanos Explorer, the American government state-of-the-art vessel, designed for every type of deep ocean exploration from discovering new species to investigating shipwrecks. On board, engineers and scientists come together to answer questions about the origins of life and human history. Today the Okeanos is on a mission to investigate the wreck of a World War one submarine. Engineer Bobby Moore is part of a team who has developed the technology for this type of mission. The “deep discover”, a remote operating vehicle is equipped with 20 powerful LED lights and designed to withstand the huge pressure four miles down. Equivalent to 50 jumbo jets stacked on top of a person While the crew of the Okeanos send robots to investigate the deep, some of their fellow scientists prefer a more hands-on approach. Doctor Greg stone is a world leading marine biologist with over 8,000 hours under the sea. He has been exploring the abyss in person for 30 years. The technology opening up the deep is also opening up opportunity. Not just to witness the diversity of life but to glimpse vast amounts of rare mineral resources. Some of the world's most valuable metals can be found deep under the waves. A discovery that has begun to pique the interest of the global mining industry. The boldest of mining companies are heading to the deep drawn by the allure of a new Gold Rush. But to exploit it they're also beating a path to another strange new world. In an industrial estate in the north of England, SMD is one of the world's leading manufacturers of remote underwater equipment. The industrial technology the company has developed has made mining possible several kilometers beneath the ocean surface. With an estimated 150 trillion dollars’ worth of gold alone, deep-sea mining has the potential to transform the global economy. With so much still to discover, mining in the deep ocean could have unknowable impact. It's not just life today that may need protecting; reaching the deep ocean might just allow researchers to answer some truly fundamental questions. Hydrothermal vents, hot springs on the ocean floor, are cracks in the Earth's crust. Some claim they could help scientists glimpse the origins of life itself. We might still be years away from unlocking the mysteries of the deep. Even with the latest technology, this kind of exploration is always challenging. As the crew of the Okeanos comes to terms with a scale of the challenge and the opportunity that lies beneath, what they and others discover could transform humanity's understanding of how to protect the ocean. It's the most hostile environment on earth, but the keys to our future may lie in the deep. Check out Economist Films: http://films.economist.com/ Check out The Economist’s full video catalogue: http://econ.st/20IehQk Like The Economist on Facebook: https://www.facebook.com/TheEconomist/ Follow The Economist on Twitter: https://twitter.com/theeconomist Follow us on Instagram: https://www.instagram.com/theeconomist/ Follow us on LINE: http://econ.st/1WXkOo6 Follow us on Medium: https://medium.com/@the_economist
Views: 2924839 The Economist
Subscribe to our channel: http://www.youtube.com/user/econstories A Holiday Special from http://econstories.tv If you've already saved for the future and are craving some consumption today, visit the EconStore: http://store.econstories.tv CREDITS: Executive Produced and Directed by John Papola Produced by Lisa Versaci and Debra Davis Written by John Papola, Adam Albright-Hanna and Jason Rink Edited by John Papola and Josh Meyers Post Producer Josh Meyers Music by Layng Martine III Cinematography by Wilson Wagoner Production Design by John Robinson Graphic Design by Jorge Gonzalez Animation by Matty Young Compositing by Thom Lynch Sound Design by Marty Lester Special Thanks to Russ Roberts, Steven Kates, Larry White, Steve Horwitz, James Adams and Steve Fritzinger EconStories is a production of Emergent Order in collaboration with the Mercatus Center at George Mason University. Visit us at http://emergentorder.com and http://mercatus.org. THE ECONSTORY: Each year, our attention turns to the holidays... and to holiday consumer spending! We're told repeatedly that, because consumer spending is 70 percent of measured GDP, such spending is vital to economic growth and job creation. This must mean that savings, the opposite of consumption, is bad for growth. This view of macroeconomics was first popularly asserted by Thomas Malthus in 1820, nearly 200 years ago. Malthus believed recessions where caused by "underconsumption" because there was a "general glut" of goods unsold. To recover from a recession and grow, we needed to stop all the saving and spend more to buy up all the goods on store shelves. Savers are like the miserly Ebenezer Scrooge. If you want a happy holiday, you've got to clear those shelves and give people a reason to produce more and create jobs. Or so Malthus thought. John Maynard Keynes resurrected this approach and built on it with his influential "General Theory", which now underpins much of our government policy and public discussion of spending and economic growth. Keynesians believe aggregate spending drives the economy and savings is a "leak" out of the flow of spending. Indeed, this economic philosophy underpins many people's widespread obsession with retail sales each holiday season. Keynesian Macro Santa's sack is filled with spending. But there is another view on recessions, recoveries and growth. Classical and Austrian economists such as Adam Smith, Jean-Baptiste Say and Friedrich Hayek viewed savings as the vital lifeblood of economic growth and production as the means by which we live better and consume more in the long term. Our savings aren't simply taken out of the economic system, but become the source of capital that entrepreneurs use to create new goods and increase productivity. These economists believe this increased productivity is the key to a wealthier world. Before we consume, we must effectively produce what others value -- at prices that cover the costs. This fundamental idea, that our demand for goods is enabled and constituted by our supply of other goods came to be known as the "Law of Markets" and later "Say's Law". For classical and Austrian economics, recessions happen when producers make mistakes. They create goods that can't be sold at a profit. These malinvestments tend to cluster in a recession as a result of systematic problems, such as disruptions in the financial system that cause monetary "disequilibrium", often as the result of government interventions in the economy since they can be system-wide. Recovery and growth in the classical and Austrian view is driven by restructuring production so that entrepreneurs discover again the best -- i.e. the most valuable and sustainable -- ways to serve customers. That process is lead by new entrepreneurs and driven by savers who make capital available to fund new investments and new ventures. Sustainable saving and investment means creating more value for others while using fewer resources. This process lies at the core of healthy economic growth, including better job opportunities and a rising standard of living. If there are problems in the financial system such that our savings aren't effectively being invested but sitting idle in bank vaults, or people are hoarding cash under their mattress in distress, a classical approach seeks to get the root of that problem and resolve the monetary problems with monetary solutions such as increasing the money supply to meet demand and other approaches. Using up more real resources through additional consumption in such a case is a applying the wrong medicine to the disease. Consuming is our end goal, but producing value must be the means to that end. That is to say, Macro Santa's sack is filled with saving. So which approach do you think is right? We favor the Smith-Say-Hayek approach to economic growth. Share your thoughts!
Views: 342621 EconStories
Tamar Gendler, Department of Philosophy Chair at Yale University, Cognitive Scientist Who gets what and who says so? These two questions underlie and inform every social arrangement from the resolution of schoolyard squabbles to the meta-structure of human societies. They are also the basis of political philosophy. Professor Tamar Gendler uses the work of three titans of the discipline, Thomas Hobbes, John Rawls, and Robert Nozick, as a lens to guide us through the taut debate about the role of government in society, asking "Will we embrace the radical state of nature or will we surrender our freedom to the leviathan of the state?" The Floating University Originally released September 2011. Additional Lectures: Michio Kaku: The Universe in a Nutshell http://www.youtube.com/watch?v=0NbBjNiw4tk Joel Cohen: An Introduction to Demography (Malthus Miffed: Are People the Problem?) http://www.youtube.com/watch?v=2vr44C_G0-o Steven Pinker: Linguistics as a Window to Understanding the Brain http://www.youtube.com/watch?v=Q-B_ONJIEcE Leon Botstein: Art Now (Aesthetics Across Music, Painting, Architecture, Movies, and More.) http://www.youtube.com/watch?v=j6F-sHhmfrY
Views: 266135 Big Think
Grab a drink and join econ greats such as Al Roth, Betsey Stevenson, David Autor, and more on a journey through AEA job market weekends of yore. (Produced with MobLab and Planet Money) ------------------------------------------------------------------------------------------------------------ Check out more interview resources here: http://bit.ly/2BTKaBZ Subscribe for new videos every Tuesday! http://bit.ly/1Rib5V8 Learn more about MobLab: http://bit.ly/2CPJPx9 Learn more about Planet Money: http://n.pr/2kzZtWv Learn more about Marginal Revolution University: http://bit.ly/2BjNbYE Special thanks to: Josh Angrist, MIT David Autor, MIT Chris Blattman, University of Chicago Michael Caldera, Oracle Tyler Cowen, George Mason University Rachel Croson, Michigan State University Elaine Frey, California State University, Long Beach Keith Hall, Congressional Budget Office Caroline Hoxby, Stanford University Garett Jones, George Mason University Lily Li, Slippery Rock University Mary McGlasson, Chandler-Gilbert Community College Doug Norton, Florida State University Liya Palagashvili, Purchase College, SUNY Al Roth, Stanford University Marc Rysman, Boston University Tim Shaughnessy, Louisiana State University at Shreveport Robert Smith, Planet Money Betsey Stevenson, University of Michigan Kelvin Wong, Arizona State University
Views: 24478 Marginal Revolution University
Check out Prof. Cowen's popular econ blog: http://www.marginalrevoultion.com What is the central claim of Austrian Business Cycle Theory? Cowen boils down the Austrians' boom-bust explanation: when the government manipulates the money supply, entrepreneurs get false ideas about the economy and make unsustainable decisions. When the central bank inflates the supply of money, the real interest rate falls because there is more money to be lent out. Since money is cheaper to borrow, entrepreneurs ramp up investment and take on riskier long-term projects—a boom often follows. But the man-handled market environment doesn't hold. False hopes lead to failures and an apparent boom, well, busts. Tyler points to the housing bubble as a case study. Between 2001 and 2004, the Federal Reserve played fast and loose with credit. Booming borrowing to invest in housing inflated the housing bubble. But when house prices fell, these long-term investments proved to be unprofitable and brought on the bust. How can we escape the cycle? Austrians propose that we steer clear of inflation—institute a gold standard or a monetary rule to avoid financial disaster. The rationale: a tighter money market means a more stable monetary supply that will enable entrepreneurs to keep expectations and investments in check. For many Austrians, kicking inflation takes on additional urgency based on their claim that once inflationary effects occur, the only corrective is to let investments fail and re-allocate remaining resources. The Ideas in Action: Turning to the Great Depression and our current financial crisis, Cowen explains that Austrians and Keynesians explain the downturns quite differently. For Keynesians and monetarists, both big busts could have been avoided if there was an increase in aggregate demand. Austrians, on the other hand, blame the effects of loose monetary policy misleading entrepreneurs. Which theory does historical evidence support? One point in the Austrian corner: many credit bubbles, the Great Depression and recent recession included, correspond with periods of loose monetary policy. But the Austrian angle has its shortcomings. First, put yourself into the mind of a bright entrepreneur for a moment; if you can reliably predict that loose money leads to riskier long term investments, wouldn't you exercise caution while taking on new projects in easy-money times? Second, we have to look at more than two historical case studies; in a broader field of view, we can find many economic downturns that have been caused by monetary contractions rather than expansions.
Views: 62582 Learn Liberty
The purpose of this video is for Black people and the oppressed living in America to pool our wealth and resources and accomplish great economic gains and eventually controlling our own destiny. The wisdom from brother Malcolm and these statistics from NorthParan.com will eliminate alot of ills we face from economic exploitation from outside forces. Please comment, rate, and enjoy! No infringement of copyright is intended in any way under DMCA, under the terms of fair use for education. NO PROFIT is made by me on any material contained herein. This video is for educational purposes only. Statistics are from NorthParan.com. Speech from the estate of Malcolm X.
Views: 162763 Brother Jay
Apple is expected to announce its latest handset—the iPhone XS. Like all smartphones it will contain more than 70 chemical elements, which are mined from the Earth's crust in countries all over the world. Click here to subscribe to The Economist on YouTube: https://econ.st/2xvTKdy The number of smartphone users globally is set to reach 2.5 billion by 2019. Around a third of the world's population will own one. Smartphones touch every element of our lives but did you know that they also connect nearly every element on the planet. In fact of the 118 elements on the periodic table 75 can be found inside a smartphone. These raw materials are extracted from the ground and shipped to refineries and factories in a truly global supply chain. Silicon, one of the most common elements in the Earth's crust, is used to make the billions of transistors in the chips that power your phone. Gold is used for electrical wiring, about 0.03g of it in each iPhone. Indium, another metal, is used to make touchscreens. But when it comes to batteries, lithium is one really key components and this element is only mined in a handful of countries. Until recently, Chile used to produce the most lithium but now Australia has the biggest market share. The Democratic Republic of Congo, a dangerously unstable country with a poor human rights record, produces more than half the world's cobalt, another crucial element in smartphone batteries. Smartphone makers are under pressure to ensure their cobalt is responsibly sourced. About 80% of the cobalt used in batteries is refined in China. Many so-called rare earth elements are also used in smartphones. In the screen, the speaker, and the motor that makes your phone vibrate. About 85% of rare earth elements are produced in China. Despite their name rare earth elements are not particularly rare but they are hard to extract without producing toxic and radioactive byproducts. Many of the elements used in smartphones are finite resources and have no functional substitutes. Rather than digging in the ground for the elements needed for new handsets it makes sense to extract them from old phones - but only about 10% of handsets are recycled now. So recycle your phone if you get a new one this year. Why? It is you might say, Elementary. Daily Watch: mind-stretching short films throughout the working week. For more from Economist Films visit: http://films.economist.com/ Check out The Economist’s full video catalogue: http://econ.st/20IehQk Like The Economist on Facebook: https://www.facebook.com/TheEconomist/ Follow The Economist on Twitter: https://twitter.com/theeconomist Follow us on Instagram: https://www.instagram.com/theeconomist/ Follow us on Medium: https://medium.com/@the_economist
Views: 62984 The Economist
A group of academic researchers from Princeton and the University of Chicago have published a paper saying young Americans are playing more video games instead of working. It's actually making unemployment fun and that is bad for the workforce. Is that true? Are video games taking over the world? Is this the end of civilisation as we know it!? Watch the video and find out. Hosts: Mike Williams and Gareth Evans Script: Mike Williams Editing: Liam McKelvey Sources: Research Paper - http://scholar.princeton.edu/sites/default/files/maguiar/files/leisure-luxuries-labor-june-2017.pdf Fortune - http://fortune.com/2017/07/16/video-games-users-men/ Refuting the Paper - https://www.bloomberg.com/view/articles/2017-07-11/young-men-give-up-work-for-video-games-be-skeptical More Videos MOBILE IS BIGGER THAN CONSOLES AND PC!? - https://www.youtube.com/watch?v=7GZ8135BGM4 THIS game is a THREAT to Guinea Pigs - https://www.youtube.com/watch?v=pNBf_ppIBvs THIS is how they plan to Fix Destiny 2!? - https://www.youtube.com/watch?v=hD-8VnoQ7Mc What does No Man’s Sky NEED from its next big update? - https://www.youtube.com/watch?v=_Uycqh6lIys What’s going on with Bethesda’s PAID MODS!? - https://www.youtube.com/watch?v=sF9pRWP_RxQ SUPPORT US on Patreon: https://www.patreon.com/prettygoodgaming SUBSCRIBE: https://www.youtube.com/channel/UCodK-9eXEm_hWSDDfLr4QzA?sub_confirmation=1 Follow Pretty Good Gaming TWITCH: https://www.twitch.tv/prettygoodgamingyt FACEBOOK: https://www.facebook.com/PrettyGoodGamingPage/ TWITTER: https://twitter.com/PrettyBadTweets WEBSITE: http://www.prettygoodgaming.com Follow us Gareth - https://twitter.com/prettygoodgaz Mike - https://twitter.com/MikendrickW Jake - https://twitter.com/Theonlyjakeever Liam - https://twitter.com/Liam_Says_Hi
Views: 174852 Pretty Good Gaming
Poverty rates have fallen faster in the past 30 years than at any other time on record. The UN wants extreme poverty to disappear by 2030. We assess the data to see if this is achievable. Click here to subscribe to The Economist on YouTube: http://econ.st/2AfBchr It is estimated that somebody escapes extreme poverty every 1.2 seconds. According to the World Bank, anyone on less than $1.90 per day is living in extreme poverty unable to afford basic food, clothing, healthcare and shelter. Absolute poverty rates have fallen faster in the past 30 years than in any other time on record. This is a remarkable achievement but the task of taking people put of the worst poverty remains a huge challenge. The impressive fall is the result of changes in just two countries, China and India. In the 1980s the majority of people in both of these countries were living in extreme poverty. But now the share of the poorest has fallen to 21% in India, and less than 2% in China. Increased productivity in farms and a mass migration from poor rural areas to the booming cities enabled many Chinese and Indian people to better their lives. Asia is moving into a new phase but can other parts of the world copy their model of moving people to factory jobs in cities? Today, more than half the world's poorest people live in sub-Saharan Africa. The percentage of the African population living in extreme poverty fell from 54% in 1990, to 41% in 2013. But in that same time period, the population of sub-Saharan Africa boomed meaning the total number of poor people rose from 276m to almost 400m. The population of sub-Saharan Africa is predicted to reach 2bn by 2050 and a large percentage of those people are likely to be extremely poor. And unlike Asia, a transformation of this region is unlikely to happen soon. Sub-Saharan Africa is urbanising faster than any other place on earth. But moving into the cities is not providing the same ladder out of poverty as it did in Asia. A lack of infrastructure, public transport, and essential services in many African cities prevents poor people from finding jobs and getting an education. The rapidly growing population only makes mater worse by putting further strain on resources. Millions of poor people in sub-Saharan Africa live far below the World Bank's threshold of $1.90 per day. That means it will be harder to pull them out of extreme poverty. Daily Watch: mind-stretching short films throughout the working week. For more from Economist Films visit: http://econ.st/2AdErpF Check out The Economist’s full video catalogue: http://econ.st/20IehQk Like The Economist on Facebook: http://econ.st/2AexPY4 Follow The Economist on Twitter: http://econ.st/2Af0pIv Follow us on Instagram: http://econ.st/2AdA4ut Follow us on LINE: http://econ.st/1WXkOo6 Follow us on Medium: http://econ.st/2AdXK26
Views: 49689 The Economist
Venezuela is on the brink. Last week Juan Guaidó proclaimed himself Venezuela's interim president. Nicolás Maduro, the country's despotic leader, clings on to power. How should the world help Venezuela? Click here to subscribe to The Economist on YouTube: https://econ.st/2xvTKdy On our cover this week Venezuela's at the brink. A tenth of the population have fled, partly because they're starving, medicines are running out, inflation is an estimated 1.7 million percent, The election last year was such a fast for the opposition boycotted it. Either the despot Nicolás Maduro falls or he doesn't - in which case expect matters to get a lot worse in Latin America's worst governed country. Last week Jaun Guaidó, the leader of the National Assembly in Venezuela, declared himself interim president pending elections. Immediately Mr. Guaidó was recognized by all the important democracies in the Americas apart from Mexico, Canada, the United States, Brazil, Argentina, Colombia. As we're going to press, hundreds of thousands of Venezuelans are pouring onto the streets demanding that Maduro step down. He's wrecked the country, he's wrecked the economy, he's tortured his opponents, and at least 80% of Venezuelans are heartily sick of him and want him to stand down. The government has always depended on the Armed Forces and on armed vigilante gangs to put down opposition with force and often considerable bloodshed - but it's running out of money to pay the men in uniform. A major in the National Guard only makes the equivalent of $15 a month - they've eat out their salaries by being allowed to steal money or dominate businesses. There's even a general in charge of toilet paper distribution. The United States ratcheted up the pressure this week by saying that any oil that Venezuela sells to the United States, the money will go to the legitimate government i.e. the one controlled by Juan Guaidó rather than Maduro's government. That's a huge deal for Venezuela that's the source of almost all its exports and it's very difficult to sell Venezuelan crude oil anywhere else. By putting these sanctions on Venezuelan oil the American government is hoping to starve the Maduro regime of the funds it needs to oppress it's people. Complicating matters is what one might call the axis of despots - particularly Russia. Vladimir Putin doesn't like to see autocrats fall and does like to cause trouble in America's backyard. It's been reported that a group of Russian mercenaries have been sent to protect Nicolás Maduro. Whether that will be enough to protect a regime that has almost no friends at home, and very few abroad, remains to be seen. We think the world should recognize Juan Guaidó as the legitimate president of Venezuela because he is, and offer Nicolas Maduro safe passage out of the country - perhaps to a comfortable retirement in Cuba. Once it's no longer run by an incompetent tyrant the prospects for Venezuela are actually rather good. Within living memory it's been a sophisticated liberal middle-class democracy. The knowledge of how to build such a society is still there in Venezuela and they could rebuild it again very quickly. For more from Economist Films visit: http://films.economist.com/ Check out The Economist’s full video catalogue: http://econ.st/20IehQk Like The Economist on Facebook: https://www.facebook.com/TheEconomist/ Follow The Economist on Twitter: https://twitter.com/theeconomist Follow us on Instagram: https://www.instagram.com/theeconomist/ Follow us on Medium: https://medium.com/@the_economist
Views: 77082 The Economist
these videos are not for entertainment, they are clearly "fair dealing" under UK copyright law and are exempt as they are reporting current affairs, as I am sure you are aware UK courts "bear in mind that considerations of public interest are paramount". UK courts see the fair dealing defence usually only applies when part of a work has been taken such as small clips as per my youtube videos. Reporting of current events Under Section 30(2), fair dealing using any work for the purpose of reporting current events, with sufficient acknowledgement, is a valid exception to copyright. Photographs are excluded, however; Cornish, Llewelyn and Aplin write that this is "in order to preserve the full value of holding a unique visual record of some person or event" (2ND OCT 2017) Subscribe for more Brexit content.
Views: 17103 RobinHoodUKIP
#MeToo sparked a defining chapter in gender relations and its seismic reverberations have been felt across the world. From protests about rape and murder in South Africa, to the Times Up Legal Defense Fund in America, discover the latest efforts to tackle sexual harassment and push for gender equality. Click here to subscribe to The Economist on YouTube: https://econ.st/2xvTKdy We're at a historic tipping point for women. In October 2017, the hashtag #metoo spread across the globe. What began as a Hollywood sexual assault scandal sparked a public reckoning around the world. Thousands of women are using two words on social media to identify themselves as survivors of sexual harassment and assault. New laws have been passed and powerful men have been forced to step down, face arrest and conviction. But now #metoo is igniting wider debate about the ability of legal systems to deliver justice, about how men should behave around women, and about the battle for gender equality. In South Africa the number of women killed by a partner or family member is 5x higher than the global average. Here, even a recent President, Jacob Zuma, has been accused of rape. The charges were dropped in court in 2006 but sexual and physical violence have continued to afflict all levels of society. In this country the police reported a 7.4% increase in all crimes against women in the last year alone. In Johannesburg Gigi White runs the charity Get Up Women. She helps victims of sexual violence whose cases have been dropped by the police. Nearly half of all rape cases reported to South African police do not result in an arrest. The number of women asking Gigi for help has increased since #metoo - yet she's worried there will be no lasting impact in South Africa unless there are more prosecutions. In America the #metoo movement is starting to have an impact on the justice system. Following the Harvey Weinstein scandal over 300 public figures have donated millions of dollars to the #timesup Legal Defense Fund. At these small unassuming headquarters in Washington DC giant steps are being taken. American women can apply to the fund for free legal support if they have been sexually harassed or assaulted at work. So far, there have been over 3,500 applications - mainly from women in low-wage industries. It's up to interns like Noah to field the rising number of calls. Some of the claims stretch back decades. Applications vetted here in Washington DC are passed to a network of 700 lawyers working across 48 states. The fund has already filed claims against McDonald's, the US Postal Service, and Walmart. They hope this will prompt other major organizations to change their own rules about sexual harassment. #Metoo has prompted some companies in the West to introduce new measures to deal with sexual harassment - but it has also provoked an all too predictable backlash. Some of the backlash is being fueled by the anxieties of men forced to think about their behavior in ways they've never had to before. Clinical psychologist Jordan Peterson is known for his controversial and extremely divisive views on gender. He's one of the most vocal critics of #metoo and its impact. Facebook COO Sheryl Sandberg is a leading supporter of #metoo. Even she is worried that some of the reverberations could prove counterproductive. Sandberg is a prominent advocate for gender equality in business and the founder of the women's empowerment foundation Lean In. In early 2018 a survey conducted by Lean In found that #metoo has had an adverse effect on gender relations. In New York, one pioneering company has come up with an innovative solution to improve relations between sexes in the workplace. Morgan Mercer is the founder of vantage point. Her company is exploiting the power of virtual reality to train men to see the world through woman's eyes. Large companies including Google and PwC have expressed interest in using this VR technology to train their workforces - as has the US Congress. It all points to an important shift. The global #metoo movement has helped expose a flaw at the heart of all societies and unleash powerful forces for change that might just kick-start efforts to fix it. What are the forces shaping how people live and work and how power is wielded in the modern age? NOW AND NEXT reveals the pressures, the plans and the likely tipping points for enduring global change. Understand what is really transforming the world today – and discover what may lie in store tomorrow. For more from Economist Films visit: http://films.economist.com/ Check out The Economist’s full video catalogue: http://econ.st/20IehQk Like The Economist on Facebook: https://www.facebook.com/TheEconomist/ Follow The Economist on Twitter: https://twitter.com/theeconomist Follow us on Instagram: https://www.instagram.com/theeconomist/ Follow us on Medium: https://medium.com/@the_economist
Views: 91534 The Economist
The Balfour Declaration was penned 100 years ago, but its legacy still resonates in the Middle East today. How did a letter, only 67-words long, ignite 100 years of conflict? Click here to subscribe to The Economist on YouTube: http://econ.trib.al/rWl91R7 100 years ago this week Arthur Balfour, the British foreign secretary, penned a letter that would change the face of the Middle East. The letter published on November 2nd 1917 led to the creation of the State of Israel and would spark almost a century of conflict. The American Colony Hotel has hosted guests in Jerusalem for over a century. This place has a unique perspective on the region's history because it's played a part in it. Presidents and peacemakers, spies and journalists, use this space, often in secret, to hatch plans and discuss the future. The hotel sits close to the former border separating East from West Jerusalem. Today, the whole city is under Israeli rule but Jews and Arabs are still divided. This place is a haven from the troubles all around. Jeremy and Ahmad have both worked here for more than 30 years. Jeremy Berkovits is the hotel's chief financial officer. He is an Israeli. Ahmad Shakarneh is the head of housekeeping. He is a Palestinian. Balfour's letter has had a profound impact on both of these men. They live on opposite sides of Israel's security barrier. The letter’s crucial clause read “His Majesty's Government view with favour the establishment in Palestine of a national home for the Jewish people”. But it also warned “it being clearly understood that nothing shall be done which may prejudice the civil and religious rights of existing non-jewish communities in Palestine”. Here in the hotels archive Jeremy and Ahmad view the letters legacy very differently. The letter was a declaration of support for Zionists who wanted to create a Jewish state. In the carve up of the Ottoman Empire after the First World War the League of Nations gave Britain a mandate to rule Palestine. But the Arabs who had been living in Palestine for centuries turned increasingly to resistance and violence, culminating in a revolt in 1936. As they crushed the uprising, the British tried to win over the Arabs by restricting Jewish ambitions. Jewish anger also turned violent. The British gave up and handed the problem over to the United Nations. In 1947, the UN voted to partition Palestine - but the Arabs rejected this and fighting broke out. As the last British soldiers left Palestine in May 1948, the moment had come for the Jews. They declared the State of Israel. Neighbouring Arab countries invaded immediately. In the armistice of 1949, Israel and Arab states divided up the land but there was no Palestinian state, just two regions controlled by Egypt and Jordan, now known as the West Bank and Gaza. An estimated 700,000 Palestinians fled or were pushed out of their homes. They called this the Nakba - the Catastrophe. Since then there have been wars, uprisings, terrorist attacks and diplomatic deals. Nothing has brought lasting peace or a State for the Palestinians. Since the war of 1967, many Palestinians now live in the West Bank under permanent Israeli occupation, cut off by the Israeli security barrier. They have autonomy in big cities and towns but are surrounded by Jewish settlements. Others are locked away in the Gaza Strip the scene of repeated wars. A century on from Lord Balfour's letter his 67 words have left a profound but mixed legacy. The conflict between Arab and Jew remains intractable. The Balfour Declaration helped to create Israel, but the state of Palestine is not yet born Daily Watch: mind-stretching short films throughout the working week. For more from Economist Films visit: http://films.economist.com/ Check out The Economist’s full video catalogue: http://econ.st/20IehQk Like The Economist on Facebook: https://www.facebook.com/TheEconomist/ Follow The Economist on Twitter: https://twitter.com/theeconomist Follow us on Instagram: https://www.instagram.com/theeconomist/ Follow us on LINE: http://econ.st/1WXkOo6 Follow us on Medium: https://medium.com/@the_economist
Views: 156668 The Economist
We talk a lot about Keynesian economics on this show, pretty much because the real world currently runs on Keynesian principles. That said, there are some other economic ideas out there, and today we're going to talk about a few of them. So, if you've been aching to hear about socialism, communism, the Chicago School, or the Austrian School, this episode is for you. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Fatima Iqbal, Penelope Flagg, Eugenia Karlson, Alex S, Jirat, Tim Curwick, Christy Huddleston, Eric Kitchen, Moritz Schmidt, Today I Found Out, Avi Yashchin, Chris Peters, Eric Knight, Jacob Ash, Simun Niclasen, Jan Schmid, Elliot Beter, Sandra Aft, SR Foxley, Ian Dundore, Daniel Baulig, Jason A Saslow, Robert Kunz, Jessica Wode, Steve Marshall, Anna-Ester Volozh, Christian, Caleb Weeks, Jeffrey Thompson, James Craver, and Markus Persson Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 840837 CrashCourse
In which John examines the complex and tangled question of the gender wage gap, and looks at some of the reasons why women who work full time are paid less than men who work full time. Sources: The pay gap increases as workers age, and there is a pay gap across all education and experience levels and in almost all professions. Also, the pay gap is larger for women of color, across all education and experience levels: http://www.aauw.org/files/2015/02/The-Simple-Truth_Spring-2015.pdf The size of the gender pay gap depends on how you calculate it, but discrimination is a big factor in the pay gap: http://blog.dol.gov/2012/06/07/myth-busting-the-pay-gap/ and http://www.jec.senate.gov/public/_cache/files/9118a9ef-0771-4777-9c1f-8232fe70a45c/compendium---sans-appendix.pdf The gender wage gap for MBA graduates increases over time: http://www.bloomberg.com/news/articles/2015-10-20/the-real-cost-of-an-mba-is-different-for-men-and-women Women's pay goes down on average relative to men once there are kids in a family; men's pay goes up. https://www.washingtonpost.com/opinions/five-myths-about-the-gender-pay-gap/2014/07/25/9e5cff34-fcd5-11e3-8176-f2c941cf35f1_story.html A really interesting, nuanced interview with an economist who studies the gender pay gap: http://freakonomics.com/2016/01/07/the-true-story-of-the-gender-pay-gap-a-new-freakonomics-radio-podcast/ The wage gap won't close at this rate until 2056: http://www.iwpr.org/publications/pubs/the-gender-wage-gap-2012/ An analysis of the role race plays in the gender wage gap: http://www.aauw.org/research/the-simple-truth-about-the-gender-pay-gap/ The gender wage gap is 10 cents in New Zealand, and 37 cents in South Korea: http://www.oecd.org/gender/data/genderwagegap.htm The exhaustive and at times exhausting wikipedia article about the gender wage gap: https://en.wikipedia.org/wiki/Gender_pay_gap_in_the_United_States In the U.S. (and most countries), most unpaid work is done by women: http://www.oecd.org/gender/data/balancingpaidworkunpaidworkandleisure.htm There's a pay gap among librarians, and male librarians are disproportionately likely to become directors: http://lj.libraryjournal.com/2014/07/careers/payday-lj-salary-survey-2014/#_ and http://www.ala.org/research/librarystaffstats/diversity/libdirectors Great overall information (if a limited data set) from payscale: http://www.payscale.com/data-packages/gender-pay-gap/job-type ---- Subscribe to our newsletter! http://nerdfighteria.com/newsletter/ And join the community at http://nerdfighteria.com http://effyeahnerdfighters.com Help transcribe videos - http://nerdfighteria.info John's twitter - http://twitter.com/johngreen John's tumblr - http://fishingboatproceeds.tumblr.com Hank's twitter - http://twitter.com/hankgreen Hank's tumblr - http://edwardspoonhands.tumblr.com
Views: 1419138 vlogbrothers
In which Jacob Clifford and Adriene Hill launch a brand new Crash Course on Economics! So, what is economics? Good question. It's not necessarily about money, or stock markets, or trade. It's about people and choices. What, you may ask, does that mean. We'll show you. Let's get started! Crash Course is now on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark Brouwer, Jan Schmid, Anna-Ester Volozh, Robert Kunz, Jason A Saslow, Christian Ludvigsen, Chris Peters, Brad Wardell, Beatrice Jin, Roger C. Rocha, Eric Knight, Jessica Simmons, Jeffrey Thompson, Elliot Beter, Today I Found Out, James Craver, Ian Dundore, Jessica Wode, SR Foxley, Sandra Aft, Jacob Ash, Steve Marshall TO: My Students FROM: Mrs. Culp Culpzilla's students are amazing! You guys rock! TO: Everyone FROM: Pankaj DFTBA and keep being the exception like the Mongols. Thank you so much to all of our awesome supporters for their contributions to help make Crash Course possible and freely available for everyone forever: Summer Naugle, Minnow, Ilkka Hemmilä, Kaitlyn Celeste, Lee Toran, Sarty, Damian Shaw, Nathaniel "The Skipper" Cruz Chavez, Maura Doyle, Chris, Sander Mutsaers Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 3608329 CrashCourse
Human trafficking is devastating for the victims but low-risk for the criminals, whose activities are largely hidden from view. To disrupt it, law enforcement is turning to some unlikely new partners—banks. Click here to subscribe to The Economist on YouTube: http://econ.trib.al/rWl91R7 German police raid homes across the country as part of a move to take down an international human trafficking network. It’s the fastest growing crime in the world but sights like this are rare. This is 21st century crime - hard to track, low risk and high reward for the criminal gangs behind it. Today’s biggest criminals could be trafficking humans, drugs or weapons. The authorities charged with stopping them have found some unlikely new partners - banks. For more from Economist Films visit: http://films.economist.com/ Check out The Economist’s full video catalogue: http://econ.st/20IehQk Like The Economist on Facebook: https://www.facebook.com/TheEconomist/ Follow The Economist on Twitter: https://twitter.com/theeconomist Follow us on Instagram: https://www.instagram.com/theeconomist/ Follow us on Medium: https://medium.com/@the_economist
Views: 57661 The Economist
President Donald Trump has spent one year in office. But what exactly has he achieved? Here’s a two-minute snapshot of his presidency so far. Click here to subscribe to The Economist on YouTube: http://econ.st/2D5Gxte Since coming to power Mr Trump has tweeted over two thousand times. Often insulting people and bragging with a liberal use of exclamation marks. He's played golf 88 times, held very long handshakes and created a new word "covfefe". Daily Watch: mind-stretching short films throughout the working week. For more from Economist Films visit: http://econ.st/2D5Gy0g Check out The Economist’s full video catalogue: http://econ.st/20IehQk Like The Economist on Facebook: http://econ.st/2D5FNUY Follow The Economist on Twitter: http://econ.st/2D1WFMn Follow us on Instagram: http://econ.st/2D5FPw4 Follow us on LINE: http://econ.st/1WXkOo6 Follow us on Medium: http://econ.st/2D5FQQE
Views: 216863 The Economist
We live in an age of incredible technological progress. However, the way humans harness and adopt these technologies is largely dependent on behavioural change. In this session, Ogilvy Vice Chairman Rory Sutherland delves into today’s data-obsessed culture, the importance of behavioural economics and how businesses and marketeers of all sizes today can tap into behavioural insights to thrive in an increasingly disruptive landscape. Rory Sutherland, Vice Chairman - Ogilvy unbound London is the UK's largest and most exciting innovation festival. Held in Shoreditch at the iconic Old Truman Brewery on the 18 & 19 July 2018, the festival gave attendees access to sources of cross-vertical innovation from around the world. In 2018 the award-winning festival welcomed 5,000+ entrepreneurs, brands, investors and senior-decision makers from more than 60+ countries around the world for a two-day celebration of networking and innovation.
Views: 8886 Unbound
They say money can't buy happiness, but who are they? Can money buy happiness? The answer is: sort of. While money may not be able to buy true happiness, lack of money can cause very real misery. Today, we look at the economics of happiness, and talk about how much money it takes to be happy. And where you should live to maximize your income-to-happiness ratio. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks, and Sheikh Kori Rahman. -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 275571 CrashCourse
Are women discriminated against in the workplace? Looking at the data, women on average earn an annual wage that is approximately 75% that of men, which many people believe is the result of discrimination. Learn more: http://bit.ly/1HVAtKP However, when Prof. Steve Horwitz analyzes the data more closely, he finds that women make certain choices, such as career selection and raising children, which tend to result in lower wages than men. These choices could be the result of personal preferences or sexist cultural expectations for women's work, though the relative influence of these two factors remains unclear. SUBSCRIBE: http://bit.ly/1HVAtKP FOLLOW US: - Website: https://www.learnliberty.org/ - Facebook: https://www.facebook.com/LearnLiberty - Twitter: https://twitter.com/LearnLiberty - Google +: http://bit.ly/1hi66Zz LEARN MORE: -Cities Where Women Outearn Male Counterparts: http://blogs.wsj.com/economics/2010/09/01/cities-where-women-outearn-male-counterparts/ -An Analysis of Reasons for the Disparity in Wages Between Men and Women:http://www.consad.com/content/reports/Gender%20Wage%20Gap%20Final%20Report.pdf -Diana Furchtgott-Roth's testimony before the Joint Economic Committee in 2010: http://jec.senate.gov/public/index.cfm?a=Files.Serve&File_id=2a1f8ad4-f649-4ad3-a742-268d946962db LEARN LIBERTY Your resource for exploring the ideas of a free society. We tackle big questions about what makes a society free or prosperous and how we can improve the world we live in. Watch more at http://bit.ly/1UleLbP
Views: 1278939 Learn Liberty
July 18 (Bloomberg) -- In today's "Single Best Chart," Bloomberg's Scarlet Fu displays the drop off in employment for American males age 25-54. She speaks on Bloomberg Television's "Bloomberg Surveillance." --Subscribe to Bloomberg on YouTube: http://www.youtube.com/Bloomberg "Bloomberg Surveillance" is a radio and TV business news show, featuring in-depth interviews with well-known business leaders, market analysts and leading economists. The show is hosted by Tom Keene, Sara Eisen and Scarlet Fu and includes frequent insight and analysis from economics editor Mike McKee. "Bloomberg Surveillance" covers market news, breaking news, finance, investment, global economics, business leaders and influencers, as well as the headlines and companies impacting the day ahead on Wall Street. In addition to covering Wall Street, the show includes global economics, currency market moves earnings news, mergers & acquisitions, and insights on the world leaders and influencers shaping these events, including: Federal Reserve chairman Ben Bernanke, JPMorgan CEO and chairman Jamie Dimon, Apple CEO Tim Cook, Yahoo! CEO Marissa Mayer, Goldman Sachs CEO Lloyd Blankfein, Goldman COO Gary Cohn, economist Nouriel Roubini, investor Marc Faber, IMF chief Christine Lagarde, world bank president Jim Yong Kim, Meredith Whitney, former Wall Street executive Sallie Krawcheck and more. "Surveillance" broadcasts from Bloomberg TV's New York headquarters. The show airs on TV at 6-8amET/3-5am PT and on radio 6-10amET/3-7am PT. For a complete compilation of Surveillance videos, visit: http://www.bloomberg.com/video/bloomberg-surveillance/ Watch "Surveillance" on TV, on the Bloomberg smartphone app, on the Bloomberg TV + iPad app or on the web: http://bloomberg.com/tv Bloomberg Television offers extensive coverage and analysis of international business news and stories of global importance. It is available in more than 310 million households worldwide and reaches the most affluent and influential viewers in terms of household income, asset value and education levels. With production hubs in London, New York and Hong Kong, the network provides 24-hour continuous coverage of the people, companies and ideas that move the markets.
Views: 1000 Bloomberg
In this series, Professor Don Boudreaux explores the question economists have been asking since the era of Adam Smith -- what creates wealth? On a timeline of human history, the recent rise in standards of living resembles a hockey stick -- flatlining for all of human history and then skyrocketing in just the last few centuries. Without specialization and trade, our ancient ancestors only consumed what they could make themselves. How can specialization and trade help explain the astonishing growth of productivity and output in such a short amount of time—after millennia of famine, low life expectancy, and incurable disease? What topic should we do next? http://bit.ly/1QWdvOn Ask a question about the video: http://bit.ly/21HwvW1 Next video: http://bit.ly/1Qum40J Help us caption & translate this video! http://amara.org/v/Elbp/
Views: 254985 Marginal Revolution University
The theory that trickle-down economics would help the economy is false, and there are earnings numbers from decades to prove it. In fact, on average, middle-class wage earners are making less than before, while the rich have only become much richer. Income inequality has worsened dramatically in the United States, and is actually worse than most of the world in that regard. How does trickle-down work and how has it failed? How did the raised taxes under president Bill Clinton help create more jobs, and how did President George W. Bush's plan pult that growth to a halt? And lastly, how do "middle-out" economics work, and how will it help our collapsing middle-class re-stabilize? Cenk Uygur brings the facts and breaks it down. Support The Young Turks by Subscribing http://bit.ly/TYTonYouTube Like Us on Facebook: Follow Us on Twitter: http://bit.ly/OkX87X Buy TYT Merch: http://theyoungturks.spreadshirt.com/
Views: 82791 The Young Turks
Schwartz Center for Economic Policy Analysis (SCEPA) | http://www.newschool.edu/scepa SCEPA's 2010 Annual Robert L. Heilbroner Memorial Lecture Presents: Women's Work and the Limits of Capitalism: A Feminist Analysis of the Current Crisis Nancy Folbre, economist and contributor to the New York Times "Economix" Blog, will join The New School to present SCEPA's annual Robert Heilbroner Memorial Lecture on the Future of Capitalism. Folbre is a professor of economics at the University of Massachusetts Amherst, winner of a MacArthur"genius" grant, and associate editor of the journal Feminist Economics. Her work focuses onthe interface between feminist theory and political economy, with a particular interest in caring labor and other forms of non-market work. Women now represent almost half of all workers on non-agricultural payrolls, concentrated in paid care industries such as health, education, and social services. Even full-time women wage earners devote significant amounts of time to unpaid care work in their households and communities. Women's specialization in both paid and unpaid care stabilizes and subsidizes the market economy even as it reproduces gender inequality. Recent efforts to measure and assign a value to care work suggest that economists have fundamentally misinterpreted trends in both the level and the distribution of economic well-being, overstating economic growth and understating trends toward increased inequality. A feminist analysis of care work has important implications for understanding both conservative attacks on the "nanny state" and the global unemployment crisis. The growing need for public provision of care services outside the home, combined with the difficulty of outsourcing these services to low-wage countries, means that "women's jobs" are growing in relative importance within the U.S. economy. Women and men have much to gain from public investments that could increase both the quantity and the quality of these jobs. MILANO THE NEW SCHOOL FOR MANAGEMENT AND URBAN POLICY | http://www.newschool.edu/milano * Location: Wollman Hall, 65 West 11th Street, 5th Floor. Monday, December 13, 2010, 6:00 p.m. to 8:00 p.m.
Views: 6694 The New School
Why have middle aged, white Americans experienced a stunning rise in premature deaths due to alcoholism, suicide and drug abuse? Economists who have documented the dramatic decrease in life expectancy say an obvious place to look is the loss of work and economic status for the working class. But economics correspondent Paul Solman finds that’s not the whole story.
Views: 97304 PBS NewsHour
Doughnut Economics: seven ways to think like a 21st century economist, the new book by Kate Raworth, is out now: UK edition: http://amzn.to/2o2ecv6 | US edition: http://amzn.to/2EpJySE These animations tell the story of the book's seven ways to think in 60-second bites. Check out the full set as they come on line at https://www.kateraworth.com/animations/. 6. Create to Regenerate Voice: Kate Raworth Animation: Tom Lee www.rocket-visual.co.uk
Views: 26817 Doughnut Economics
You can directly support Crash Course at https://www.patreon.com/crashcourse Subscribe for as little as $0 to keep up with everything we're doing. Free is nice, but if you can afford to pay a little every month, it really helps us to continue producing this content. In which John Green teaches you about the Great Depression. So, everybody knows that the Great Depression started with the stock market crash in 1929, right? Not exactly. The Depression happened after the stock market crash, but wasn't caused by the crash. John will teach you about how the depression started, what Herbert Hoover tried to do to fix it, and why those efforts failed. Hey teachers and students - Check out CommonLit's free collection of reading passages and curriculum resources to learn more about the events of this episode. The Roaring Twenties ended with The Great Depression, a period of soul-searching for the United States dealing with a failing middle class: https://www.commonlit.org/texts/the-great-depression The issues of the Great Depression were made more difficult by the agricultural crisis known as the Dust Bowl: https://www.commonlit.org/texts/excerpt-from-on-drought-conditions
Views: 3444981 CrashCourse
UPDATE: *Season One, Two DVD Set now available. Help support future episodes: http://www.cultureindecline.com/#order Please help support this Free Media Project: http://www.cultureindecline.com/support.html Subttitles: Croatian, Czech , Danish, English , Finnish , French, Greek, Hungarian , Italian , Polish , Portuguese (Brazil), Russian, Swedish Culture in Decline | Episode #2 "Economics 101" by Peter Joseph Oct 1st 2012 Help with Subtitles? : http://dotsub.com/view/888f55a3-6fd6-4685-ba4e-7f1238d71362 The topic of this show entitled "Economics 101" deals with the subject of Economic Calculation, Market Rationale and its effects, along with considerations of the Scientific Principles of Sustainability. This episode features long winded and generally insulting rhetoric, a special guest Gremlin, CID's "Man on the Street" and the return of the evil peach-suit capitalist - Peter's alter ego. *Episode #3: Dec 1st 2012* Please Subscribe to this Channel for future Episodes: http://www.youtube.com/user/CultureInDecline?feature=mhee About: "Culture in Decline" is a satirical yet serious expression that challenges various cultural phenomena existing today which most of society seems to take for granted. Nothing is considered sacred in this Series except for a detached benchmark of fundamental logic and reason - forcing the viewer to step out of the box of "Normality" and to consider our societal practices without traditional baggage and biases. Common themes include Politics, Economics, Education, Security, Religion, Vanity, Governance, Media, Labor, Technology and other issues centric to our daily lives. Website: http://www.cultureindecline.com/ Twitter: https://twitter.com/cultureindeclin Facebook: http://www.facebook.com/CultureinDecline YouTube Subscribe: http://www.youtube.com/user/CultureInDecline Mailing List: http://mailinglist.thezeitgeistmovement.com/lists/?p=subscribe&id=10 Free DVD Torrents Download, Hi-Res QuickTime Torrent & Fully Sourced Text Transcript PDF are/will be found here: http://www.cultureindecline.com Sharing Terms: Any re-upload of these fully copyright episodes must adhere to these terms: 1) Please don't not re-upload within 3 days of the original publishing date. 2) Please do not allows Advertisements. 3) Please source the channel [http://www.youtube.com/user/CultureInDecline?feature=mhee] and website at the very top of the description. [http://www.cultureindecline.com/]
Views: 1036708 Culture In Decline
We need your help to keep providing free videos! Support the Majority Report's video content by going to Patreon.com/MajorityReport! In this Majority Report clip, a racist calls in to teach Sam a thing or two about brains. "Next, Richwine actually goes to those heroes of modern racialism, Richard Herrnstein and Charles Murray, and their pseudoscientific 1994 book The Bell Curve. If you looked no further, you wouldn’t know that much of the research cited in that book was primarily supported by The Pioneer Fund, a reportedly neo-Nazi organization devoted to eugenics, whose founder, Wickliff Draper, was an advocate for sending American blacks back to Africa. You wouldn’t know that Charles Murray is revered only on the far-right fringe of social science; to many other scholars, he’s a crackpot who’s been blaming the poor, and egalitarian social policies towards the poor, for American social decline for decades. He also claims to have discovered a system for ranking innate creativity that is completely free of personal preference or cultural bias (a system that, according to him, proves that Beethoven was “objectively” more accomplished than Mozart; using this infallible system he found — surprise! — that virtually everything of importance in world history was accomplished by white European males). You wouldn’t know that the “science” of The Bell Curve has been thoroughly debunked by real biologists and social scientists, most notably here and here and here and here, but in many other venues and publications as well." Read more here:http://www.huffingtonpost.com/jesse-larner/guess-what-racism-isnt-go_b_3762362.html and here: https://www.amazon.com/Black-White-Test-Score-Christopher-Jencks/dp/0815746091/ and here: https://www.amazon.com/Intelligence-Genes-Success-Scientists-Statistics/dp/0387949860/ and here: https://www.amazon.com/Mismeasure-Man-Revised-Expanded/dp/0393314251/ Watch the Majority Report, live M-F at 12 noon EST and via daily podcast at http://Majority.FM Download our FREE app: http://majorityapp.com SUPPORT the show by becoming a member: http://jointhemajorityreport.com and BUY all of your Amazon purchase thru our Amazon affiliate link: http://majorityreportkickback.com LIKE us on Facebook: http://facebook.com/MajorityReport FOLLOW us on Twitter: http://twitter.com/MajorityFM SUBSCRIBE to us on YouTube: http://youtube.com/user/SamSeder WATCH our LIVE show video stream: http://youtube.com/user/MajorityReportLIVE
Views: 321387 The Majority Report w/ Sam Seder
Our previous Freakonomics Radio episode, “Hacking the World Bank,” discussed how Jim Yong Kim, president of the World Bank, is using the insights of behavioral economics to fight poverty. Kim acknowledged that non-profits like the World Bank are playing catch-up: KIM: If you were to go to Ogilvy or any of the big public-relations companies and give them this [new World Bank report on behavioralism], I think they would laugh at us in the sense that they would have been utilizing these insights very aggressively for a very long time. This week — voila! — we have a story about how Ogilvy (& Mather), the global marketing and advertising giant, is indeed pushing the limits on how behavioral insights can be applied in the real world. The episode is called “The Maddest Men of All.” The star of the show is Rory Sutherland, the voluble and iconoclastic vice chairman of Ogilvy & Mather in the U.K. (If you’ve never read David Ogilvy’s Confessions of an Advertising Man, do yourself a favor and do so immediately.) I met him last year in London and was nearly overwhelmed by his passion and knowledge of behavioral economics. (For further proof of both, see his Spectator columns or his oral history). When I learned that Sutherland had founded an O&M offshoot called #ogilvychange, which brings the latest behavioral research to mainstream firms (American Express and Nestle, e.g.) as well as non-profits (the European Parliament and Public Health England), I thought he’d be a great podcast subject. I can happily say that my guess was right — and I hope you’ll agree. In the episode, you’ll hear Sutherland expand on what behavioral economics gets right that classical economics doesn’t; you’ll hear “choice architects” from #ogilvychange teach the employees at a call center to use behavioral tricks to talk newspaper subscribers out of canceling their subscriptions; and you’ll hear how advertisers use behavioral insights like loss aversion and social norming for good and, occasionally, evil: SUTHERLAND: Let’s take an example where you go to an airline website and it … quotes you a price for your seat to Sacramento, whatever it may be, and it says only four seats left at that price. Now, that works on me. I’ve spent eight years studying this stuff, I know it’s an attempt to exploit my scarcity bias, but it still makes me click. That’s just the way I’m wired. Now implicit in that line is that subsequent seats will be more expensive. But actually the person in their weasel wording hasn’t exactly made that promise, have they? They’ve merely said at this price. At this price is not quite clear. It could be that the subsequent four seats are being sold actually at a lower price. Along the way, we peel off for a fascinating conversation with Michael Housman, chief analytics officer for Cornerstone OnDemand, which builds software to help employers find the right employees and then track their performance. This is part of the burgeoning field of “workforce science.” Housman tells us what he has learned about employee honesty (and how it correlates with performance), whether salary is as strong an incentive as we think (spoiler alert: probably not), whether the computer browser you use says something about your competence (yep), and how much it matters whether your boss is wonderful or terrible (a lot!). Housman acknowledges that employers have to decide just how much data to gather on employees, and that it’s unwise to cross the “creepy” line: HOUSMAN: As an economist and someone who loves data, I want to get every piece of data that I can on everyone to figure out what it is that truly keeps people on the job creates a good employee. Unfortunately, there are things that legally we’re not allowed to touch and then there are also things that we have decided as an organization we shouldn’t touch. The obvious legal ones are race, sex, age, those are off limits and I completely understand why. But beyond that we’ve decided to take a somewhat conservative approach in what we’re going to use. And so we’re not scouring your Facebook profile. We’re not looking at your Twitter feed. Having learned a few things from Housman and Sutherland, let me leave you with the following message: I wouldn’t want you to miss out on this or any future Freakonomics Radio episodes. Many people like you subscribe to this podcast — at iTunes or elsewhere. We are so confident that you’ll like it that we’re willing to give it away for free. Happy listening. ➤ Google Plus: https://plus.google.com/b/113356460096647194676/113356460096647194676 ➤ Subscriber: https://goo.gl/rQxE4G
Views: 1917 Freakonomics Radio
Watch more from Making Sen$e: https://bit.ly/2D8w9kc Read more economic news: https://to.pbs.org/2qRyskq Is geographic mobility the key to moving up the economic ladder? Economists are finding that the odds no longer favor American kids in doing better than their parents, but some hope that uprooting their families and moving to safer streets with better schools will guarantee a brighter economic future. Economics correspondent Paul Solman explores the link between location and inequality.
Views: 35626 PBS NewsHour
If you add up all of the innovations made from the late 1800s up to 1970, there's been no comparable stretch of economic growth, before or since, says economist Robert Gordon. According to his new book, "The Rise and Fall of American Growth," slower progress is just the new normal. But in our current computer age, not everyone buys that idea. Economics correspondent Paul Solman reports.
Views: 49810 PBS NewsHour
✪✪✪✪✪ WORK FROM HOME! Looking for WORKERS for simple Internet data entry JOBS. $15-20 per hour. SIGN UP here - http://jobs.theaudiopedia.com ✪✪✪✪✪ What is HOME ECONOMICS? What does HOME ECONOMICS mean? HOME ECONOMICS meaning - HOME ECONOMICS definition - HOME ECONOMICS explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. Home economics, now known as family and consumer sciences (FCS), is the profession and field of study that deals with the economics and management of the home and community. The field deals with the relationship between individuals, families, and communities, and the environment in which they live. As a subject of study, FCS is taught in secondary schools, colleges and universities, vocational schools, and in adult education centers; students include women and men. It prepares students for homemaking or professional careers, or to assist in preparing to fulfill real-life responsibilities at home. As an academic profession, it includes educators in the field and human services professionals. The field represents many disciplines including consumer science, nutrition, food preparation, parenting, early childhood education, family economics, human development, interior design, textiles, apparel design, as well as other related subjects. Family and Consumer Sciences education focuses on individuals and families living in society throughout their lifespan, thus dealing not only with families but also with their interrelationships with the communities. Other topics such as sexual education, and fire prevention may also be covered. One of the first to champion the economics of running a home was Catherine Beecher, sister to Harriet Beecher Stowe. Catherine and Harriet both were leaders in mid-19th century North America in talking about domestic science. They came from a very religious family that valued education especially for women. The Morrill Act of 1862 propelled domestic science further ahead as land grant colleges sought to educate farm wives in running their households as their husbands were being educated in agricultural methods and processes. Iowa, Kansas, Nebraska, Illinois, Minnesota and Michigan were early leaders offering programs for women. There were women graduates of these institutions several years before the Lake Placid Conferences which gave birth to the home economics movement. The home economics movement started with Ellen Swallow Richards, who was the first woman to attend Massachusetts Institute of Technology and later became the first female instructor. Through her chemistry research, she became an expert in water quality and later began to focus on applying scientific principles to domestic situations. At the Chicago World’s Fair in 1893, she designed the Rumford Kitchen, which was a tiny kitchen that served nutritious meals to thousands of fair goers, along with a healthy dose of nutrition education. She shunned an invitation to participate in the Women’s Building as she said none of her research was just women’s work, but rather information for all. Late in the 19th century, Richards convened a group of contemporaries to discuss the essence of domestic science and how the elements of this discipline would ultimately improve the quality of life for many individuals and families. They met at pristine Lake Placid, New York at the invitation of Melvil Dewey. Over the course of the next 10 years, these educators worked tirelessly to elevate the discipline, which was to become home economics, to a legitimate profession. Richards wanted to call this oekology or the science of right living. Euthenics, the science of controllable environment, was also a name of her choice, but "home economics" was ultimately chosen as the official term in 1899. Richards then founded the American Home Economics Association (now called the American Association of Family and Consumer Sciences) in 1909. In the 1910s the AHEA won passage of two crucial pieces of legislation that allowed home economists to establish formal niches for research and teaching within institutions of higher education. The Smith-Lever Act of 1914 and the Smith-Hughes Act of 1917 provided funding to expand demonstration work in rural communities and to develop and teach a home economics curriculum on the campuses of most state land-grant colleges. Home economics emerged at the turn of the twentieth century as a movement to train women to be more efficient household managers. At the same moment, American families began to consume many more goods and services than they produced. To guide women in this transition, professional home economics had two major goals:
Views: 20338 The Audiopedia