No book prepared ahead of time better targeted the year in economics.
Just as governments including Australia’s were embracing debt (A$800 billion and counting) and creating money out of nowhere ($200 billion scheduled) came a treatise explaining that at times like these (actually, at any time when the resources of the economy aren’t fully employed) that’s entirely responsible.
Stephanie Kelton’s book has rightly been displayed on Alan Kohler’s desk, and Kohler himself has become a convert to modern monetary theory which the book outlines in the clearest of terms.
Kelton explains that in an economy such as Australia’s the purpose of tax isn’t to raise money but to slow spending, and something else: demanding the payment of tax in Australian dollars forces Australians to use Australian dollars.
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Published on: 12-29-2020
As a child I enjoyed a series of biblical cartoons that were very well done, both for their artistic quality and for their respectful adaptation of the biblical text. These cartoons re-created various stories from the New Testament. Now that I am a father, I still find myself watching these Bible lessons from time to time with my children.
One of the stories included in this animated series is the well-known parable of the 10 virgins (Matt. 25:1-13). Toward the end of the parable, when the bridegroom addresses the foolish virgins, we hear an answer that in many ways captures the spirit of the biblical text: “If you are my friends, why didn’t you come when I announced it? . . . I don’t know you; I’m sorry.”
Cave Paintings and Sculptures
A map of decorated caves in western Europe with the names of a few notable or outlying sites. The broken line encloses caves decorated in the distinctive Mediterranean Style which seems to have been little influenced by the master artists of France and Spain. It often features simple, stark animal representations together with quite elaborate geometrical designs. There are important caves decorated in the Mediterranean style in southeast Spain, the Ardèche canyons in southern France, the heel of Italy, and in Sicily.
There are now some 200 Painted caves known in southern France and northern Spain. Several new discoveries in the remote Spanish Basque country appear to be closing the gap between these two main regional groups which, in any case, certainly share many correspondences of style and theme.
So often, we ll take the latter. But why is that? There s actually a psychological reason why we love returning to our old favorite shows and films again, and again, and again. As explained in a 2012 study from the University of Chicago Press published in the
Journal of Consumer Research, the act of reconsumption like rereading a favorite book or sitting in your go-to booth at a local diner can bring humans great pleasure.
In scientific speak, Unlike the survival motives that drive evolutionary psychology, we find that consumers who chose to repeat hedonic experiences even just once are expressing and affirming their individual experience and its special meanings to them, the study authors, Cristel Antonia Russell and Sidney J. Levy write in their paper s conclusion. In this way, hedonic volitional reconsumption is in keeping with the etymology of the word repetition. Whether regressive, progressive, reconstructive, relational, or reflective, reconsumption is a petition, a
Orazio Attanasio, Peter Levell, Hamish Low, Virginia Sánchez Marcos
In spite of the substantial decline in gender differences in labour market outcomes observed over the last few decades in developed countries, substantial gender gaps remain. As discussed in Blau and Kahn (2017), gender gaps in terms of conventional human capital variables are now small, particularly among highly educated individuals. However, a gender pay gap persists, and is more pronounced at the top of the wage distribution.
The dynamics of the gender wage gap during the early career
Empirical evidence of a widening overall gender gap after several years in the labour market has been found in the UK (Manning and Swafield 2008) and the US (Goldin 2014, Erosa et al. 2016). Interestingly, similar findings are reported among a more homogenous sub-sample of the population, such as university graduates, MBAs from top business schools, or associate lawyers (Goldin 2014, Goldin et al. 2017, Azmat and Ferrer 2017). Be