The advent of ChatGPT and other popular AI technologies is fueling a wave of transformation sweeping across almost every industry. The race towards optimal adoption of automation and the replacement of labor costs with expensive, high-energy-consuming technology is becoming a matter of survival of the fittest in the business world. Automating processes that once took … More AI And The Race To End Capitalism
From the recent ILO (International Labour Organization) World Employment and Social Outlook – the changing nature of jobs publication. The part on labour and the increasing importance of international supply chains is a ‘must read’ – the economic history of today. Where are workers less likely to have a permanent contract? Increasing poverty for households … More World employment and social outlook 2015. The changing nature of jobs
They try to explain business cycles solely as problems of information, such as asymmetries and imperfections in the information agents have. Those assumptions are just as arbitrary as the institutional rigidities and inertia they find objectionable in other theories of business fluctuations … I try to point out how incapable the new equilibrium business cycles … More Why Real Business Cycle models can’t be taken seriously
Due to the steady fall of worker share on GDP, inequality is “quickly becoming a problem between the financial industry and the rest of the world, and the bad news is that finance is wining” (S. Keen). The graph above shows what happens to a relative stable capitalist system when the workers share of GDP begins to fall below certain levels … More Why the rich should be worried about inequality
We need a new way of modeling macro economics instead of assuming that aggregate action leads to generalized welfare #SmartEconomy #finance #Money #Innovation #RealWorldEconomics … More Economic models — increasingly sophisticated and totally useless
Managing risk in a globalized economy – The London Economic. Take a 10 question survey. Help us build the economic models of the future. Be part of something big. We need your opinion as a consumer!
“An unlimited pool of ideas lost to a sea of short sighted goals” Innovation in the twenty first century has a very narrow definition that centers on the purpose of creating immediate monetary value. This term can take several shapes, such as creating a new product that people want to buy, finding new ways of … More Where Innovation Should be Headed
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