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Category Archives: Financial System

Brookings – Robots kill jobs. But they create jobs, too.

“Much of the current discussion on automation is of the “robots-killing-jobs” variety. This alarmism is unsurprising. After all, most research to this point has focused on the introduction of robots into manufacturing, or on computer algorithms that automate routine tasks. These are changes that have replaced, and will continue to replace, jobs that many workers, families and communities have historically depended on.

But if history is any guide, the . As Daron Acemoglu and Pascual Restrepo (2019) suggest [in the paper Automation and New Tasks: How Technology Displaces and Reinstates Labor], the future of work and the workforce will depend on the balance between labor replacing technologies – those that supplant human brawn or rote repetition – and, in their language, labor reinstating technologies, that generate new tasks at which humans have a comparative advantage…”

Survey finds extensive evidence of sexual assault and bias against female economists

“The American Economic Association is today releasing results from a survey of current and former members about the professional climate in economics, conducted under the auspices of the AEA’s recently created standing Committee on Equity, Diversity, and Professional Conduct (CEDPC). For the Committee’s summary report of the survey results, see here. As the deadline for… Continue Reading

Paper – Rethinking the Efficiency of the Common Law

Sokol, D. Daniel, Rethinking the Efficiency of the Common Law (February 3, 2019). Notre Dame Law Review, forthcoming 2020; University of Florida Levin College of Law Research Paper No. 19-14. Available at SSRN: https://ssrn.com/abstract=3328025 or http://dx.doi.org/10.2139/ssrn.3328025 “This Article shows how Posner and other scholars who claimed that common law was efficient misunderstood the structure of… Continue Reading

FINRA National Financial Capability Study

FINRA Investor Education Foundation: – “A significant part of financial capability is the ability to make ends meet through adequate savings. Having resources for immediate medical needs is also an important component. In the U.S., 18% of individuals reported that over the past year, their household spent more than their income (not including the purchase… Continue Reading

OECD – Fast Forward to Gender Equality

Mainstreaming, Implementation and Leadership – “This report maps strategies, governance tools, institutional settings and innovative approaches used by governments across the OECD to drive and support society-wide gender equality goals. It covers all state institutions, including legislatures and judiciaries, and discusses the challenges faced by OECD countries in achieving long-lasting impact. Finally, the report provides… Continue Reading

Trump’s Proposed Budget Would Devastate National Parks

Outside: A close reading of the President’s 2020 Department of the Interior budget reveals massive funding cuts for everything public-lands related—except for oil and gas “To understand any budget, all you need to see are the numbers. And when you look at the Trump administration’s 2020 budget proposal for the Department of the Interior, those numbers… Continue Reading

White Collar Prosecutions Hit All-Time Low in January 2019

“The latest available data from the Justice Department show that during January 2019 the government reported 337 new white collar crime prosecutions – an historic low. According to the case-by-case information analyzed by the Transactional Records Access Clearinghouse (TRAC) at Syracuse University, this number is down 20.3 percent over the previous month, and continues a… Continue Reading

MarineTraffic is the world’s leading provider of ship tracking and maritime intelligence

MarineTraffic: “Monitoring vessel movements is at the core of what we do. Building on a base of data gathered from our network of coastal AIS-receiving stations, supplemented by satellite receivers, we apply algorithms and integrate complementary data sources to provide the shipping, trade and logistics industries with actionable insights into shipping activity. With our main… Continue Reading

Identity theft: 7 ways to protect yourself from cybercriminals

USAToday: “Cybercriminals will steal an estimated 33 billion records by 2023, according to Juniper Research, a firm that forecasts digital tech trends. Half of all data breaches globally will occur in the U.S. alone, Juniper says…Here are seven ways to protect your digital assets online…. Use strong, unique passwords Enable two-factor authentication (2FA) Freeze your… Continue Reading

Mansa Musa: The richest man who ever lived

BBC: “Amazon founder Jeff Bezos is the richest man in the world, according to the 2019 Forbes billionaires’ list released this week. With an estimated fortune of $131bn (£99bn) he is the wealthiest man in modern history. But he is by no means the richest man of all time. That title belongs to Mansa Musa,… Continue Reading

The President’s Authority to Withdraw US from NAFTA Without Further Congressional Action

CRS report via Library of Congress – The President’s Authority to Withdraw the United States from the North American Free Trade Agreement (NAFTA) Without Further Congressional Action, March 5, 2019: “…This report examines the President’s authority to terminate the United States’ international obligations under NAFTA without further action from Congress. It also examines whether the… Continue Reading

Millionaires and Corporate Giants Escaped IRS Audits in FY 2018

Transactional Records Access Clearinghouse: “The latest data from the IRS show an alarming and continued downward spiral in government audits of the wealthiest taxpayers and America’s corporate giants. Despite growing income inequality – where the top 1 percent of Americans control much of the wealth in the United States – less and less attention is… Continue Reading