Tech-affluent East-bay residents use crowd-funding to pay for rent-a-cops. Conservatives in the Tea Party cackle gleefully.
Rodrigo Davies, a graduate researcher at the Center with Zuckerman who is studying civic crowd funding, suggests that one of the reasons why “people are so unsettled” by the Rockridge private security efforts is the speed at which the process is moving.
“It’s the contagion effect — the fact that you had one campaign and then within three days, two further campaigns, and the second outstripped the first. If you think the spread of private security is problematic and undermines public services then what crowdfunding does is make that problem arrive more quickly and spread more quickly.”
Countries go through two phases in economic-industrial development:
A “race to the bottom”, where poor farmers with few options make up a low-paid workforce, and then a “race to the top” when the supply of cheap labor dries up and factories have to compete by creating higher value products.
Source: Lex Heerma van Voss, “Ashgate Companion to the History of Textile Workers”
(Source: The New York Times)
The robots are not going to kill us, they just going to make some people very rich and the rest of society poorer.
ultra-high-frequency variety is really a dead weight loss for society. ….There is a role in [capital] markets for traders whose work is more speculative…. But when taken to its logical extremes, such as computers exploiting five millisecond advantages in the transfer of market-moving information, it’s much less clear that society gains anything….In the high-frequency trading business, billions of dollars are spent on high-speed lines, programming talent, and advanced computers by funds looking to capitalize on the smallest and most fleeting of mispricings. Those are computing resources and insanely intelligent people who could instead be put to work making the Internet run faster for everyone, or figuring out how to distribute electricity more efficiently, or really anything other than trying to figure out how to trade gold futures on the latest Fed announcement faster than the speed of light.
(Source: Mother Jones)
Simple, fast and measurable.