Meet the Leftish Economist With a New Story About Capitalism

from NYTs Mariana Mazzucato was freezing. Outside, it was a humid late-September day in Manhattan, but inside — in a Columbia University conference space full of scientists, academics and businesspeople advising the United Nations on sustainability — the air conditioning was on full blast. For a room full of experts discussing the world’s most urgent social and environmental problems, this was not just uncomfortable but off-message. Whatever their dress — suit, sari, head scarf — people looked huddled and hunkered down. At a break, Dr. Mazzucato dispatched an assistant to get the A.C. turned off. How will we change anything, […]

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The Google Tax

from Seth’s Blog Actually, there are two. The first is the tax we each pay so that companies can bid against each other to buy traffic from Google. Because their revenue model is (cleverly) built on both direct marketing and an auction, they are able to keep a significant portion of the margin from many industries. They’ve become the internet’s landlord. The difference between a successful business in New York and an unsuccessful one is just a few percentage points–the successful ones pay 95% of their profit to landlords, while the unsuccessful ones pay 105%. More here.

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Capitalism Isn’t An Ideology — It’s An Operating System

from TED Bhu Srinivasan researches the intersection of capitalism and technological progress. Instead of thinking about capitalism as a firm, unchanging ideology, he suggests that we should think of it as an operating system — one that needs upgrades to keep up with innovation, like the impending take-off of drone delivery services. Learn more about the past and future of the free market (and a potential coming identity crisis for the United States’ version of capitalism) with this quick, forward-thinking talk. More here.

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