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Entries in economics (12)

Tuesday
Aug302011

We're all post-postmodernists now

This is an excerpt and conclusion from an article on The Prospect website, our post-postmodern, digital age. The author contends this includes making business social, social media merely a tool, hack/maker-spaces for cultural meaning, reassessing health of economies beyond the market; these are all institutions I'm involved in, which makes this article very interesting and something important to consider.

Postmodernism is Dead by Edward Docx

Certainly, the internet is the most postmodern thing on the planet. The immediate consequence in the west seems to have been to breed a generation more interested in social networking than social revolution. But, if we look behind that, we find a secondary reverse effect—a universal yearning for some kind of offline authenticity. We desire to be redeemed from the grossness of our consumption, the sham of our attitudinising, the teeming insecurities on which social networking sites were founded and now feed. We want to become reacquainted with the spellbinding narrative of expertise. If the problem for the postmodernists was that the modernists had been telling them what to do, then the problem for the present generation is the opposite: nobody has been telling us what to do.

If we tune in carefully, we can detect this growing desire for authenticity all around us. We can see it in the specificity of the local food movement or the repeated use of the word “proper” on gastropub menus. We can hear it in the use of the word “legend” as applied to anyone who has actually achieved something in the real world. (The elevation of real life to myth!) We can recognise it in advertising campaigns such as for Jack Daniel’s, which ache to portray not rebellion but authenticity. We can identify it in the way brands are trying to hold on to, or take up, an interest in ethics, or in a particular ethos. A culture of care is advertised and celebrated and cherished. Values are important once more: the values that the artist puts into the making of an object as well as the values that the consumer takes out of the object. And all of these striven-for values are separate to the naked commercial value.

Go deeper still and we can see a growing reverence and appreciation for the man or woman who can make objects well. We note a new celebration of meticulousness, such as in the way Steven Wessel makes his extraordinary handmade flutes out of stainless steel. We uncover a new emphasis on design through making in the hand-crafted work of the Raw Edges Design Studios, say, with their Self-Made collection, objects that are original, informed by personal stories and limited edition. Gradually we hear more and more affirmation for those who can render expertly, the sculptor who can sculpt, the ceramist, the jeweller, even the novelist who can actually write. Jonathan Franzen is the great example here: a novelist universally (and somewhat desperately) lauded, raised almost to the status of a universal redeemer, because he eschews the evasions of genre or historical fiction or postmodern narratorial strategies and instead tries to say something complex and intelligent and telling and authentic and well-written about his own time. It’s not just the story, after all, but how the story is told.

These three ideas, of specificity, of values and of authenticity, are at odds with postmodernism. We are entering a new age. Let’s call it the Age of Authenticism and see how we get on.

Friday
Jun102011

future of consumption in increasing digital culture

curated: a convo between myself and @goldengus

(n.b. wanted to use storify but it wasn't picking up all of the tweets)

It began like this: 

  

 

 

Friday
Jan212011

Jobless Recovery As Conceptual Creative Economy Transition?

Is growth in temporary jobs really an indicator of a weak jobs recovery? Or an indicator of a transitionary conceptual economy (Pink) picking up speed?

Very recently I wrote this post about how America’s ‘1 million jobs created in 2010’ headlines were meaningless unless qualified. According to the US Current Employment Statistics Survey, the US economy is adding part-time and contract labour faster than most other jobs.  The number of people working part-time for economic reasons as well as those who have become self-employed is up, but not by much in 2010 on 2009. I also cited reports (rather unscientific) that online job postings are up.

Traditionally, growth in part-time, temporary, and contract work has meant unstable and unfavourable economic conditions for workers. Why? Simply, part-time workers don’t tend to get benefits like health care or tutition re-imbursement. They are usually the first to be fired when things like tax conditions, social security (national insurance), and fixed-asset spending change.

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Wednesday
Jan192011

Distinguishing Between Questioning Value & Cost of Education

Tertiary education is too expensive. But this doesn't mean people shouldn't go to university, even graduate school. The more educated a population is, the more capacity there is for high-value added economic activities. Since the start of the recession -- moreover the jobless recovery-- there is a trend over questioning the value of higher education without distinguishing between 'value' and cost. If this distinction isn't made, we risk never fully recovering from recession and damaging our economies ability to perform in the future.

This recent piece from the NYT about a law school grad who can't get a job is indicative of the failure I'm talking about.

To sum: the article is about a recent law school grad who can't get a legal job sufficient to pay his rent let alone his student debt. The article partly lays blame on the flailing economy, partly on unethical (thus resultingly false) statistical practices, but fails to question whether the value of the degree itself is inflated especially for future market demands.

There are a few subtle points I'd like to make: US education has gotten too expensive. Most Bachelor's coursework is already outdated. Education needs to be recast so students understand that their degrees are what you make of them.

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Thursday
Jan062011

Jobs Growth Meaningless Unless Qualified

(This is a rare comment on the US economy, as I'm home for Christmas in Wisconsin until the 12th January.)

 

'The mainstream media' is reporting today that last year saw the US economy create 1 million jobs. They are reporting in a manner that makes it seem like good news, like evidence of a return to normal from this Great Recession. But the 'media' is once again blindly reporting rather than stopping to qualify the fact.

To explain, I'd like to make a comparision: every month for the last six months the British media has also reported jobs growth but it usually goes something like this: 'Office of National Statistics reports jobs growth bolstered by part-time jobs.' The economic situaiton isn't returning to normal. Companies aren't confident enough about the scant economic growth (leaving aside that 'growth' might be due to shifting resources within economies rather than creating any new economic value) to begin hiring again.

Creation of more part-time or temporary jobs in an economy aren't evidence of the return to economic business as usual.  Part-time and temporary work doesn't offer the benefits, security, nor indeed spending power of growth in full-time jobs.  If we agree with the mainstream economics of the pre-recession-- that economic growth is to be lead by consumer spending-- then consumers (workers) will not have enough (disposable) income to bolster economic recovery at a level sufficient enough to bring the economy back to recovery. 

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Friday
Oct012010

The Arts are the traditional economy, stupid (leave the budget allocation alone)

Slashing Arts budgets is the first thing every government in economic trouble does, which is a bit bass-ackwards because the economies of the future will be driven by a convergence of digital technology and traditional economy (maths, science).  Digital? What’s that got to do with arts?  It’s simple: there isn’t anything that you do online that isn’t highly graphical or that doesn’t require a great deal of planning by someone with a background in arts. Digital technology is communication.

I’m making the rounds to the party conferences for the ’21 Hours Experiment.’  Today I found myself at a NESTA fringe event at the Labour Party Conference entitled, ‘Britain: Creative Highway or Dead End?’

One of the panelists was Ian Livingstone, one of the godfathers of Britain’s digital games industry.  He made a simple but important point:

When parents think about their children’s education, from which school to enroll them in, to enrolling them in extra curricular courses, they often won’t make the investment (either in financial allocation or time) in arts pursuits because they don’t realize that skills like planning and designing digital games are transferable.  Livingstone said it’s much the same with governments in that they fail to realize just how much potential the digital games industry has to earn real revenue for HM Treasury now that games have gone from simply products to being services as well.  He cited Farmville and Second Life, as having thriving online economies in digital goods-- something that no one would have thought of several years ago.

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Saturday
Aug142010

What lost generation?

OUTRAGE! Is anybody else between the ages of 20 and 30 tired of being written off by the media as a 'lost generation'? It's utter nonesense!

It's true employment is down, and we have more debt than previous generations (also, thanks to previous generations)-- education, ecological, credit card, etc.  But we're being judged on recently failed economic paradigms: measuring growth, creditworthiness, even what is and is not valuable within or to a society are all paradigms that are now in transition.  The media is quick to trumpet how the financial system and most of the things we know about economics are now defunct, so why is it still making value judgements on those paradigms?

 

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Sunday
Jun062010

Self-Enfranchisement by ICT: Illegal Settlements & the 'Informal' Economy

Updated on June 16, 2010 by Registered Commenterannlytical

Last month's WiredUK had an article that sent my mind a-racing in several directions.  The article entitled "Organizing Armaggeddon" tracked how smart-phones with apps and geotagging will be used in the future for aid relief.  Not that the Ushahidi platform wasn't enough of a digi-revelation, the first relief workers on the ground in Haiti tagged refugee sites with a GPS, what resources were available and what kind of aid was needed. 

The article describes an aid worker:

"Chaperon stopped at several to talk with the locals. Clipboard in hand, he jotted down key indicators such as access to water, numbers of children, availability of improvised shelter materials, and whether any other aid outfits had already been there. He snapped the occasional digital photo to augment the reports and logged the location of each camp with a GPS unit -- critical in places like Haiti where there never were many street addresses to begin with.

Back at base camp, his findings would be added to those of other assessment teams, along with information from media reports and other sources, in an ever-growing database."

And the article also explains why natural disasters hit less developed countries particularly hard:

"Earthquakes are an even more lethal threat, particularly in poor countries. Portau-au-Prince and its environs collapsed because of the shoddy construction that is the norm in developing-world megalopolises from Mexico City to Chengdu."

Put bluntly, cities in emerging markets and developing countries have a lot 'slums' or 'squatter camps.' In some places these 'camps' are no longer camps-- they have been so long that they have become essentially permanent structures (see Robert Neuwirth Shadow Cities). In South Africa some squatter camps have become townships, some now becoming sub-metropolitan economies in their own right.

And then it struck me: what if aid workers know who was where already? Why couldn't they know that?

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