Reading

Created
Sat, 02/07/2022 - 07:26


“I don’t know how they want to get undressed, above or below the waist, but I think it would be a disgusting sight in any case”, Volodya Pew-teen, as quoted by AP.

I’m just a low-income, sort-of white, ageing, male, semi-educated Aussie worker: a pleb. To rub shoulders with such VIPs is not one of my many privileges, so I have no direct, personal knowledge on those matters and it’s impossible for me to say either way.

Thank goodness!

What I can say with absolute certainty is that this is how people imagined the previous White House tenant:
Created
Fri, 01/07/2022 - 00:43
There is broad consensus in both research and policy circles that one of the key reasons for a lack of progress in reducing gender gaps in employment and wages is the persistent gender imbalance in unpaid work, three-quarters of which is performed by women. Universal access to quality care services enables the reduction of this unpaid care work through its redistribution from the domestic sphere to the public sphere, with empirical studies from different regions and countries demonstrating that access to services (in particular, childcare services) substantially increases female labor force participation and labor market attachment.
Created
Thu, 30/06/2022 - 00:05
Pari passu clauses were deliberately crafted to gain an upper hand in sovereign bankruptcy disputes brought to the London stock exchange’s jurisdiction

Few persons, even legal scholars, realize that sovereign bankruptcy has a long history. Far from a pie-in-the-sky scheme conceived in the 1980s by international lawyers such as Christopher Oeschli and economists such as Jeffrey Sachs that later inspired the failed IMF Krueger proposal for a sovereign debt restructuring mechanism, the concept of sovereign debt bankruptcy and discharge (write-off) has an ancient and little known history. My new INET working paper sets out this history for the first time.

Created
Wed, 29/06/2022 - 11:55

I would like to propose a new term: outrage dividend.

Outrage dividend is the boost in reach that content which elicits strong emotional responses often gets on social media and other content sharing platforms.

This boost can be related to human nature — an outrage-inducing article will get shared more. It can also be caused by the particular set-up of the platform a given piece of content is shared on — Facebook’s post-promoting algorithm was designed to be heavily biased to promote posts that get the “angry” reaction.

A tale of two media outlets

Imagine two media organizations.

A Herald is a reliable media organization, with great fact-checking, in-depth reporting, and so on. Their articles are nuanced, well-argued, and usually stay away from sensationalism and clickbaity titles.

Created
Tue, 28/06/2022 - 22:04

All my life I’ve known I was “creative” and “different.” Only recently have I realized that I’m both neurodivergent and bisexual. In my youth, as I struggled with drugs, alcoholism, depression, and underemployment, it never crossed my mind that I was neurodivergent—not that the term existed then. Even after I was diagnosed with an Anxiety […]

The post I’m Here appeared first on Zeldman on Web and Interaction Design.

Created
Sat, 25/06/2022 - 00:11

The depth of the U.S. securities market helps ensure dollar hegemony

1. The Ukraine Crisis and Dollar Supremacy

Since the collapse of communism in the early 1990s and the subsequent rise of the world economy as a single market-based operational totality, its monetary counterpart has been a unipolar currency system centered on the US dollar as the premier vehicle currency in the private sector, as well as the premier reserve currency in the official sector. The hegemony of the dollar has survived several global economic shocks, including that of the financial crisis of 2007-9. Whether the system can survive the seismic shocks stemming from Russia’s invasion of Ukraine in February 2022 is now under active debate.

Created
Sat, 25/06/2022 - 00:11
James K. Galbraith responds on the U.S. dollar system

I thank Philos Lysandrou and Anastasia Nesvetailova for their response to my essay on the dollar in a multi-polar world. Our conclusions are broadly similar, though a reader of the Lysandrou/Nesvetailova essay alone might be forgiven for thinking that sharp differences exist.

For instance, L/N characterize my view in these words: “He sees the confidence in the dollar as something highly fragile because it apparently lacks any material substance to back it.” I searched my text for the words “fragile” and “fragility.” They were not to be found. On the contrary, L/N quote the following passage but omit both a crucial intermediate sentence and also the conclusion, which are included in bold below:

Created
Thu, 23/06/2022 - 02:20
New mandates must beget new organizing

Last week’s WTO 12th Ministerial Conference (MC12) in Geneva concluded with pro-corporate, anti-worker, and anti-development outcomes on all major issues of access to medicines, agriculture, digital trade, and the future of the WTO itself. The spin of “unprecedented outcomes” of MC12 is a cynical ploy to paper over major differences to bolster the institution’s flailing reputation.

The agreements should herald a warning to all: rich country governments professing new commitments to sustainable and worker-centered trade are just as likely to push anti-development outcomes and cosmetic window-dressing when it comes to protecting Big Business profits above the public interest. Their version of WTO “reform” will facilitate the further deterioration of multilateralism and cement-in discredited pro-corporate rules on globalization.

MC12: Setting the Scenario