"Nowhere is this [innovation by petit bourgeoisie] more evident than in the modern software industry, where virtually all the novel ideas have been created by individuals or small partnerships"
"The competitive advantage of large firms lies largely in their capitalization, marketing muscle, lobbying power, and vertical integration, not in their original ideas and innovation."
Is there any downside to taking say the 99.5th percentile of wealth, and requiring anyone over that value to sell say 5% of their holdings of each stock or fund they own and pay the proceeds as tax?
Let me be very clear: private companies will always fail because none of them has a clear & complete picture of the market. (Which is an impossibility, but I digress...)
Misallocation of resources by the private & public sector is therefore the norm & not the exception.
The difference is that a governmental organization does not have to maximize profits, unlike the private sector, and can therefore better manage sparse resources in the public interest.
You'll be unsurprised to see that the UK's standard of living has improved (on average) less than many developed countries (exceptions being we're doing better than France, Greece & Spain).... so while over the period 2007-2019 living standards have risen (just) other countries have done better.
And real (average) earnings were only 3.5% higher than 2009 in 2023.
More evidence of the lack of economic rewards the country has gained from voting in a Tory Govt.
So the script didn’t exist so I changed to a for eachline() and reduced the argument passed to the Bernoulli (sampling right? i know his name from fluid dynamics; not familiar with any stats work on his part) because the returned file size was 1 or 2 samples from the 360k file on your given script.
i thunk another thought, if a household can be tracked in time, is there value using the data to help matching populations? also, is there something to be said of the kinds of households occupy them and if that changes over time?
The Office for National Statistics has been having some trouble with its key reports (such as the Labour Force Survey) & aside from dealing with budget cuts, it has also confronted (under-reported) strike action on the removal of flexible working for staff as well as a (linked?) growing exodus of staff (many in high-expertise middle level positions have left for the private sector); less than half as many people joined the ONS as left in 2023.
♲ @mlansbury@despora.de:> ## Opinion: The West should launch a new economic Cold War against Russia
Russian President Vladimir Putin is trying to revive the Soviet Union, but two can play this game. To complete the Kremlin’s grotesque historical reenactment, the West should launch a new economic Cold War in response.
In addition to the war of aggression waged against the civilians and cities of Ukraine, Russia has also waged an asymmetrical economic war against the global economy and the international trade system that underpins it.
Russia’s #weaponization of trade, particularly of energy supplies, has caused massive disruptions in international markets and triggered a cascade of economic setbacks globally.
The (centrist) Social Market Foundation asked a group of economists to look at the Labour Party's economic policies & see what theorising lies behind them (if anything).
They concluded that pragmatism & small scale/focussed policy interventions seemed to be the driving logic(s) rather than any more general economic theory or position (in this sense they lack the coherence of Biden's policy approach).
@ChrisMayLA6@KimSJ I wonder how knowable some of Labour's planned policies are. There is electorally no benefit to nailing their colours to the mast before the election as that can only damage their appeal with some voter group or another.
I think their biggest challenge will be making their voters feel that something has radically changed for the better in the first 100 days. Only some of that can be achieved with economic policy.
How much that'll affect voting these days, I'm not so sure (back in the day it could decide elections) but they're obviously trying to avoid talking about anything.
An inflationary spiral based on expectations. It is a very different one from a deflationary one.
In the case of supply chain disruption (think floods and drought) it's a supply shock and at best businesses have to scramble to adapt (invest etc) to get around the problem. But hammering COL demand is perverse.
In all cases, messing around with interest rates is largely an exercise in futility.
It takes years to go from concept to reality for a new apartment building. But we have been increasing construction, and a number of new units have been coming online this year.