Bloomberg has an interesting article on Amazon: For a little while earlier this year, it seemed as though 87-year-old Rosie Thomas and her neighbors in the small town of Gainesville, Va., had beaten Amazon. Virginia’s largest utility, Dominion Energy Inc., had planned to run an aboveground power line straight through a Civil War battlefield—and Thomas’s property—to reach a nearby data center run by an Amazon.com Inc. subsidiary. Source: Who should pay for fixing externalities?, by Scott Sumner
In the chart to the right, denoting prices over the past six years, we see a big increase in price of Pounds measured in RAND, indicating an increase in the demand for Pounds (people who want to sell RAND and buy Pounds). It fell, but it is going up again. Source: Are weaker property rights behind the fall of the RAND?
Administration of medical care is a huge driver of costs in the United States’ healthcare system. Running hospitals, generating bills, and collecting payment are just a few of the activities that take up health providers’ time, and run up the costs of care. Source: Healthcare Triage: How Administrative Costs Drive Healthcare Costs
Today’s visualization comes to us from HowMuch.net, and it breaks down U.S. millionaires by state.
Machine learning-enabled price discrimination might allow companies to figure out exactly how much customers are willing to pay for things, and gouge them for every penny. Machine learning-enabled network effects could aggravate the problem of big-company dominance. Algorithms could collude with each other to rig markets, without humans even realizing the collusion is happening.
It is time for Japan to unleash the third “arrow” of Abenomics: a long-term growth strategy underpinned by structural reforms. A critical element of that strategy must be improved human-capital formation, achieved through a revised approach to education.
More than 7% of Venezuela’s population has fled the country since 2014, according to the UN. That is the equivalent of the US losing the whole population of Florida in four years (plus another 100,000 people, give or take).
Anyway, the August edition of ‘Brexit Watch’ has come out now and didn’t disappoint. The manic anti-Brexit bias continues. Very little understanding of the impact of the irresponsible fiscal strategy is demonstrated. The same hacks get a ‘guernsey’ and prophesies of doom abound.
Although it’s hard to get a clear picture of China’s overall credit policy — because there are so many policy levers, and because so much is done behind closed doors — it appears that the country is feeling out a novel approach to macroeconomic stabilization. That program focuses on asset prices, bank finance, real estate and administrative control of banks.
So far, economists see only faint effects of the new tax law in housing prices. The predicted carnage hasn’t materialized.