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AnBr

Member Since 21 January 2012 - 01:48 AM
Offline Last Active Feb 22 2019 02:48 PM
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Topics I've Started

What Happens When You Believe in Ayn Rand and Modern Economic Theory

19 February 2019 - 11:37 PM

http://evonomics.com...conomic-theory/

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“Ayn Rand is my hero,” yet another student tells me during office hours. “Her writings freed me. They taught me to rely on no one but myself.”

As I look at the freshly scrubbed and very young face across my desk, I find myself wondering why Rand’s popularity among the young continues to grow. Thirty years after her death, her book sales still number in the hundreds of thousands annually — having tripled since the 2008 economic meltdown.

The Milton Friedman Doctrine Is Wrong. Here’s How to Rethink the Corporation

14 February 2019 - 04:16 PM

http://evonomics.com...nk-corporation/

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The compensation of American executives—CEOs and their “C-suite” colleagues—has long been a matter of controversy, especially recently, as the wages of average workers have stagnated and economic inequality has moved to the center of the national debate. Just about every spring, the season of corporate proxy votes, we see the rankings of the highest-paid CEOs, topped by men (they’re all men until number 21) like David Cote of Honeywell, who in 2013 took home $16 million in salary and bonus, and another $9 million in stock options.

Rarely, however, does the press coverage go beyond the moral symbolism of a new Gilded Age. Coverage of CEO pay usually fails to show that the scale of CEO pay packages—and the way CEOs are paid—comes at a cost. At the most basic level, the company is choosing to pay executives instead of doing other things—distributing revenues to shareholders, raising wages for workers, or reinvesting in the business. But the greater cost may be the risky behavior that very high pay encourages CEOs to engage in, especially when pay is tied to short-term corporate performance. CEO pay also plays a major role in the broader trend toward radical inequality—a trend that, evidence has shown, precipitates financial instability in turn.

CEO pay has been controversial in the United States for more than a century—for as long as corporate management has been a profession separate from ownership. In economic booms, CEO pay skyrockets and, after the inevitable bust, it attracts attention—as the million-dollar paychecks of executives such as W.R. Grace of Bethlehem Steel and Charles Mitchell of National City Bank drew notice in the 1930s. But the most recent debate focuses on the staggering, uninterrupted rise in CEO pay over the past three decades, following a long period of moderation in both executive pay and in overall economic inequality. Between 1940 and 1970, average CEO pay remained below $1 million (in 2000 dollars). According to the Economic Policy Institute (EPI), from 1978 to 2013, CEO pay at American firms rose a stunning 937 percent, compared with a mere 10.2 percent growth in worker compensation over the same period, all adjusted for inflation. In 2013, the average CEO pay at the top 350 U.S. companies was $15.2 million.

Biohackers Encoded Malware in a Strand of DNA

12 February 2019 - 09:35 PM

https://www.wired.co...lware-dna-hack/

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In new research they plan to present at the USENIX Security conference on Thursday, a group of researchers from the University of Washington has shown for the first time that it’s possible to encode malicious software into physical strands of DNA, so that when a gene sequencer analyzes it the resulting data becomes a program that corrupts gene-sequencing software and takes control of the underlying computer.

Why Radical Libertarians Are the New Communists

10 February 2019 - 11:21 PM

http://evonomics.com...new-communists/

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Most people would consider radical libertarianism and communism polar opposites: The first glorifies personal freedom. The second would obliterate it. Yet the ideologies are simply mirror images. Both attempt to answer the same questions, and fail to do so in similar ways. Where communism was adopted, the result was misery, poverty and tyranny. If extremist libertarians ever translated their beliefs into policy, it would lead to the same kinds of catastrophe.

GOP Warns That Releasing Trump’s Taxes Could Lead to More Transparency

09 February 2019 - 11:12 AM

https://nymag.com/in...ansparency.html

It is telling when one party wants more transparency and the other wants to keep their dealings hidden.

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The Democratic lawmakers faced stiff objections from congressional Republicans, who accused them of seeking to violate Mr. Trump’s privacy, setting a dangerous precedent for political retribution and abusing the power laid out in the law…

“Where does it end?” [GOP congressman Mike] Kelly asked. “What about the tax returns of the speaker? Members of Congress? Federal employees? Or, for that matter, any political donors? There is no end in sight for those whose tax information may be in jeopardy.”