• Designing a Universal Payment Network (w/ Jed McCaleb)
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    Designing a Universal Payment Network (w/ Jed McCaleb)

    ASH BENNINGTON: The future of finance, or the mother of all asset bubbles? Cryptocurries like Bitcoin and Ethereum are a divisive topic in the investing world, and yet some of those digital assets have made their founders and early investors incredibly rich. This series gives you the chance to hear some of the most influential people in the cryptocurrency space. In this episode, you’ll hear part of a discussion between Santiago Capitals Brent Johnson and Jed McCaleb. Jed McCaleb co-founded Ripple, a cryptocurrency, and Mt. Gox, one of the world’s leading Bitcoin exchanges– before its spectacular implosion in 2014. Jed’s now working on a nonprofit called Stellar. We’re about to…

  • Free To Choose 1980 – Who Protects the Worker?– Union Legislation
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    Free To Choose 1980 – Who Protects the Worker?– Union Legislation

    Unions have long recognized that the surest and most effective way for them to get power without violence is to have the federal government on their side. That’s why so many strong unions have made it a point to locate their headquarters close to the source of power. The heads of the trade unions that cluster near Capitol Hill know this place very well. It is the room assigned to the Committee on Education and Labor of the House of Representatives, and it is where much of our labor legislation is discussed and shaped before presentation to Congress. I know rooms like this myself very well, because I’ve often testified…

  • Is Universal Health Care Economically Viable? | Connecting Point | Feb. 3, 2020
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    Is Universal Health Care Economically Viable? | Connecting Point | Feb. 3, 2020

    >>UNIVERSAL HEALTHCARE IS A CENTRAL TALKING POINT FOR MANY DEMOCRATS IN THE RACE FOR THE WHITE HOUSE. BUT WHAT WOULD IT LOOK LIKE AND WHAT WOULD IT COST? OPPONENTS OF SUCH A HEALTHCARE OVERHAUL SAY IT WOULD BREAK THE BANK AND COULD LEAD TO A LOWER QUALITY OF HEALTHCARE FOR ALL. PROPONENTS, LIKE ECONOMICS PROFESSOR ROBERT POLLIN, CO-DIRECTOR OF THE UNIVERSITY OF MASSACHUSETTS POLITICAL ECONOMY RESEARCH INSTITUTE, SAY UNIVERSAL HEALTHCARE IS ECONOMICALLY VIABLE. HE SAT DOWN RECENTLY WITH CAROLEE MCGRATH TO SHARE HIS PERSPECTIVE.>>BASIC FEATURES OF MEDICARE FOR ALL ARE NUMBER 1, THAT EVERY RESIDENT OF THE COUNTRY IS COVERED WITH GOOD QUALITY HEALTH INSURANCE. THEY ALL HAVE ACCESS TO…

  • How Does Inflation ACTUALLY Work?
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    How Does Inflation ACTUALLY Work?

    If you have a conversation with your grandparents about the price of anything, they’ll most likely say something to the effect of, “When I was your age, I’d buy a bottle of Coke for six cents!”, or perhaps, “I bought a house with a single entry-level job!” And that seems to be the memory of lots of older people as they reminisce about their youth. It’s no secret that what a dollar can get you has changed significantly over time. And these price changes aren’t exclusive to decades ago. In January 2017, a whole chicken cost an average of $1.42 a pound, according to figures released by the U.S. Department…

  • Hamilton v. Jefferson: The Central Bank Debate [POLICYbrief]
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    Hamilton v. Jefferson: The Central Bank Debate [POLICYbrief]

    One of the core problems that Hamilton realized having lived through the Revolutionary War with George Washington on the battlefield was the inability of the Continental Congress to raise the requisite amount of funds to help feed and fund the army in battle, and he never wanted to go back to that. And so, Washington as well realized that and so they wanted a central government that will at least be able to have taxing power and the power to do those very things. The Constitutional Convention debated whether or not there should be a national bank, a bank run by the government, and they rejected the idea. But Hamilton…

  • Would a universal basic income discourage people from working? | IN 60 SECONDS
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    Would a universal basic income discourage people from working? | IN 60 SECONDS

    Television is so glamorous… sorry, I shouldn’t have talked. One of the most persuasive arguments against a universal basic income is the people will stop working. They’ll take the universal basic income, they’ll pool it and they will simply live in idle life. It’s a serious issue and I had to take that into account in the design of the program. And the solution that I came up with is pretty straightforward. As long as people have a job that pays less than thirty thousand dollars a year, they continue to get the full ten thousand dollars. Now there is a certain tax that is levied on after thirty thousand…

  • How to spot a pyramid scheme – Stacie Bosley
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    How to spot a pyramid scheme – Stacie Bosley

    In 2004, a new company called Vemma Nutrition started offering a life-changing opportunity to earn full time income for part time work. Vemma’s offer was open to everybody, regardless of prior experience or education. There were only two steps to start get started earning: purchase a $500-600 kit of their liquid nutrition products, and recruit two more members to do the same. Vemma Nutrition Company grew quickly, becoming a global operation that brought in 30,000 new members per month at its peak. There was just one problem— while the company generated $200 million of annual revenue by 2013, the vast majority of participants earned less than they paid in. Vemma…

  • Economic Update: Libertarianism Capitalism & Socialism
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    Economic Update: Libertarianism Capitalism & Socialism

    Welcome, friends, to another addition of Economic Update, a weekly program devoted to the economic dimensions of our lives—jobs, incomes, debts—our own, those of our children. I’m your host, Richard Wolff. Today I’m going to devote the program to another one of those topics you have been writing to me about that you wanted a comment about. And I respect your taking the time and trouble to tell me what you want me to deal with. And so, I’ve devoted this program and planning it to the topic of libertarianism. A growing number of people seem to be persuaded or interested, at least, in the libertarian approach. It has some…

  • If Robots Take Our Jobs, Is Universal Basic Income a Practical Response?
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    If Robots Take Our Jobs, Is Universal Basic Income a Practical Response?

    We talked about some policy implications. One of the things that has started really in 2016- 2017 you start hearing a lot about universal basic income and I get a raise of hands who’s heard the term universal basic income? So most of you have heard it it’s this really it. Actually encompasses a number of different ideas some of which libertarians love and some of which sort of progressive liberals love and so and they’re very actually they’re very different but there’s a lot of these questions around if work is changing, if there’s less of it or less of it that in if we’re using the same economic…