Relevant and even prescient commentary on news, politics and the economy.

Will AI take all the jobs?

Noah Smith has a blog post arguing that AI won’t take away all the jobs from humans. It’s a clever and well-written post that deserves your attention. Here are some money grafs: “So as AI gets better and better, and gets used for more and more different tasks, the limited global supply of compute will […]

Death of the 6% commission

Apparently, the National Association of Realtors has agreed to eliminate rules on commissions. “The NAR, which represents more than 1 million Realtors, also agreed to put in place a set of new rules. One prohibits agents’ compensation from being included on listings placed on local centralized listing portals known as multiple listing services, which critics […]

Fixing Social Security

If nothing is done, the Social Security Trust Fund is currently projected to run out in about 2033. At that point, projected benefits will fall by about 20%. The Boston Globe has an opinion piece about the coming Social Security crisis/crunch. It talks about how Canada deals with the problem. I have a subscription and […]

High school financial literacy?

I thought this might make a fun follow-up on my post on 8th grade algebra. Over at jabberwocking.com, Kevin Drum discusses a proposal to make a semester of financial literacy a high school graduation requirement. He feels that this would fill a much-needed gap: “There are no long-term tests of financial literacy that I can […]

King Canute economics comes to Massachusetts

According to legend, King Canute tried to order the tide not to come in. Needless to say, he failed, divine rights of kings nonwithstanding. Back when we lived in North Carolina, we visited the Outer Banks a few times. There were many expensive homes on the shoreline. These were often casualties of hurricanes that would […]

The economics of lighting

I grew up with the admonition that you always turn off the lights if you’re the last to leave the room. Or “close the lights,” as my grandma used to say. But home lighting technology has evolved considerably over the past couple of decades. 1. Does it save money to turn out the lights when […]

The Change HealthCare hack

This post uses material that a Facebook friend posted. I re-post it here with her permission. Any provider that uses a Billing Software (that has Change HealthCare integrated in their system as the main clearinghouse) can’t get claims to insurance companies once they medically bill for something/services in their software. Change Healthcare is the ‘bridge’. […]

Stand your ground

When we moved to Missouri in 1982, it was a purple state. In the last decade, it has become progressively more extreme right-wing. Now, in Missouri and more than 30 other states, each citizen is their own well regulated militia with the powers of judge, jury and executioner. Law-abiding citizens become collateral damage with no […]

City mouse, country mouse

Over at jabberwocking.com, Kevin Drum takes on Paul Krugman over his assertion that small-town America is aggrieved because the working-age men are more likely to be unemployed than their metropolitan counterparts. As usual, Kevin brings the charts and numbers to show that while Krugman isn’t wrong, the differences are small and don’t explain “white rural […]