How Diversity Punishes Asians and Poor Whites
Poor Non-White Students: "Counting Twice"
HT: Andrew Biggs
Professor Mark J. Perry's Blog for Economics and Finance
BLOOMBERG -- "Billionaire Carlos Slim, the richest man in the world according to Forbes magazine, said he’d rather spend money on projects that create jobs than give away his cash as part of a fight against poverty.
According to Freddie Mac, that's the lowest 30-year fixed rate since April 1951!
Across the nation, many companies are shifting to a more flexible workforce populated by temporary workers, contractors and freelancers, loosening the bond between businesses and employees. The firms, aiming to become more nimble and cut costs, want to boost or cut staffing to meet fluctuating demand or deploy workers with specialized skills for short-term projects.
The expanding use of contract workers, in fact, is partly fueled by some Americans who see more flexibility, and even security, in such setups. Many young workers who saw their parents lose jobs the past couple of years "are taking on a free-agent mentality," says Steve Armstrong, general manager of U.S. operations for staffing firm Kelly Services. "They're saying, 'It's not the model I want to find myself in.' " Contract or freelance work, he says, can bolster job security by severing workers' ties to the fortunes of one company.
The NY Fed's Empire State Manufacturing Survey showed an improvement in October for manufacturers in New York State, as the General Business Conditions index rose to 15.73 this month, an 11.6-point gain from the 4.14 level in September (see blue line above). October marked the 15th consecutive month of a positive reading for the General Business Conditions index, following a 16-month period with 15 negative readings from February 2008 to July 2009 that coincided very closely with the recession period.
1. Wal-Mart and Target both employ non-union workers.
"It needs to be said. The rescue of the Chilean miners is a smashing victory for free-market capitalism.
If those miners had been trapped a half-mile down like this 25 years ago anywhere on earth, they would be dead. What happened over the past 25 years that meant the difference between life and death for those men? Short answer: the Center Rock drill bit, from a private company in Berlin, Pa. that has 74 employees."
The drill's rig came from Schramm Inc. in West Chester, Pa.
The high-strength cable winding around the big wheel atop that simple rig is from Germany.
Japan supplied the super-flexible, fiber-optic communications cable that linked the miners to the world above.
Samsung of South Korea supplied a cellphone that has its own projector.allowing the miners to see films or videos of loved ones
Cupron Inc. in Richmond, Va., supplied self-sterilizing socks made with copper fiber that consumed foot bacteria, and minimized odor and infection.In an open economy, you will never know what is out there on the leading developmental edge of this or that industry. But the reality behind the miracles is the same: Someone innovates something useful, makes money from it, and re-innovates, or someone else trumps their innovation. Most of the time, no one notices. All it does is create jobs, wealth and well-being. But without this system running in the background, without the year-over-year progress embedded in these capitalist innovations, those trapped miners would be dead."
"CME Group, the world's leading and most diverse derivatives marketplace, announced today that it will begin listing and trading rainfall futures, options on futures and binary options beginning October 31 for trade date November 1. The monthly and seasonal contracts will be based on the CME Rainfall Index and will be available March through October.
Yesterday, former Google CIO and VP of engineering Douglas Merrill launched an online loan service called "ZestCash," to "serve the underbanked" and provide an alternative to payday loans.
Greg Mankiw has a great post about Barney Frank's changing views over time on affordable housing and the role of the GSEs.
Relocation expert Joseph Vranich has been keeping track of how many companies are leaving California for more business-friendly states, and the latest tally appears in the graph above above. For all of 2009, 51 business left California, and just so far this year the number of businesses moving out of California has more than tripled to 158, with several months to go.
In August, North Dakota pumped another record amount of oil, producing more than 10 million barrels in a single month for the first time ever (see chart above, data here). Compared to August of last year, oil production has increased by 41%, and oil production has doubled in a little more than two years - from slightly fewer than 5 million barrels in June of 2008 to more than 10 million barrels in August this year.
1. Do you support the forced redistribution of income?
It is well-known in Russia that citizens often get discounts to museums, cathedrals and other culturally important national and historic landmarks. But how do Russians get the discount?
87-year old Professor Hal Lewis, Emeritus Professor of Physics at the University of California-Santa Barbara, formally resigned from the American Physical Society (APS) last Wednesday after 67 years as a member.
LONDON, 11 October -- International Policy Network is pleased to announce the finalists in its ninth Bastiat Prize for Journalism. The competition includes one prize awarded for print journalism ($15,000 total prize money), and one prize awarded for online journalism ($3,000 prize money). Winners and runners-up will be announced in early November.
Orlando Sentinel -- "Panhandlers in downtown Orlando may soon have some mechanical competition for spare change. City Hall is set to roll out a plan to install "homeless meters" near spots where panhandling is grudgingly allowed.
Not to be deterred by the reality that most common property bike programs fail, Washington, D.C. just launched the largest and most ambitious bike-sharing program in the country a few weeks ago. Capital Bikeshare will eventually provide more than 1,000 red bikes (pictured above on the Duke Ellington Bridge in Woodley Park near my apartment) at more than 100 stations in D.C. and Arlington, VA. (see station map here). Read a news report here about Capital Bikeshare.