Quotes & Links #65

1) voxeu.org: Labour power sets the neutral real rate

With lower labour costs, a reserve army of global workers whose size grew as trade barriers dropped and emerging countries developed, companies have increasingly been incentivised to substitute capital for labour, reducing the requirement for capital, and bringing the cost of capital lower in the west (Figures 8 and 9).

2) washingtonpost.com/monkey-cage: Britain’s election highlights the instability of its political system

3) noahpinionblog.com: Economists don’t have “physics envy”
A bit tongue-in-cheek. Even if economists want to emulate physics, why would anyone call that envy or think it’s a bad thing? What a weird discussion.

4) velvetgloveironfist.com: Reflecting on the election

So much rubbish has already been written about Labour’s failure to win. I’ll tell you in six words why they lost: England is not a socialist country. The only Labour politicians who have won elections in the last 60 years are Harold Wilson and Tony Blair, both of whom were on the right of the Labour party […]

5) newyorker.com: Daddy Issues – Corruption in New York and Shanghai

[…] corruption in high-ranking families is such a hallmark of modern Chinese politics that observers speculate that Wang Qishan, the head of the anti-corruption drive, was given the job of cleaning it up in part because he has no children, so he was less vulnerable to embarrassing discoveries in his own house.

6) nytimes.com: The Real Problem With America’s Inner Cities

Such street culture is simply the black urban version of one of America’s most iconic traditions: the Wild West.

Very sensible post about the current situation in America.

7) thewpsa.com: What Can We Learn from 10.1 Million Facebook Users? “It’s Complicated.”

8) wiwo.de: Die Straße der Zukunft besteht aus Algen
Warten wir’s ab. Klingt aber cool.

9) washingtonpost.com/innovations: The 22 most memorable quotes from the new Elon Musk book, ranked
RANKED! To be honest there a bit too many quotes by his ex-/current wife.

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