Economic Insider’s Post

🌟 Delve into the depths of the underground economy on Economic Insider! 💼 Explore the clandestine world beyond conventional markets, where transactions operate outside official regulations and oversight. Uncover this shadowy realm's complexities, challenges, and implications, from informal employment to unreported income and illicit trade. Gain insights into the economic forces driving underground activities and their impact on society. Whether you're an economist, policymaker, or curious observer, embark on a journey to understand the hidden dynamics shaping our economy. #UndergroundEconomy #UnreportedIncome #InformalTrade 🌐💰 For more information, visit Economic Insider. https://lnkd.in/dXyW4mMi

💰 Beyond the Books: Exploring the Murky World of the Underground Economy The underground economy, often operating out of sight, plays a significant role in global commerce. This hidden sector includes unregulated businesses, illegal trade, and off-the-books labor. While it offers economic opportunities, it also poses challenges such as tax evasion and lack of worker protections. Governments worldwide grapple with balancing enforcement and offering pathways to formalize these activities for a healthier economic ecosystem. #UndergroundEconomy #HiddenMarket #EconomicChallenges #TaxEvasion #GlobalCommerce https://lnkd.in/dXyW4mMi

WeekWatch Tech slide continues as Autumn starts on a dour note 7 minute read #investing #economy #financialadvice

#StevosBusinessBook of the week: In This Economy?: How #Money & #Markets Really Work by @KylaScan Reveals the hidden forces driving key economic outcomes. @CrownBooksNYC https://lnkd.in/gbj3J5ds #ad #StevosNovelIdeas #economics

#StevosBusinessBook of the week: In This Economy?: How #Money & #Markets Really Work by @KylaScan Reveals the hidden forces driving key economic outcomes. @CrownBooksNYC https://lnkd.in/gbj3J5ds #ad #StevosNovelIdeas #economics Want your new #book reviewed, promoted, or considered for this designation? DM me for info.

🗣️ New Translation is online: How do we steer our Economy? 🤑 The second intervention of our last debate series is written by Dirk Ehnts. He elaborates on the previous use of fiscal policy, monetary policy, and trade policy that has led to complex problems. To solve these, he says, we must use our economic policy instruments differently. Cliffhanger end. Read the full article: 🇬🇧 In English: https://lnkd.in/eQJsGb_d 🇩🇪 In German: https://lnkd.in/ex8tDieQ This translation was produced in cooperation with Economists for Future International 🤝 #econ4future #money #state

Our economy is not a free market, despite what you may have heard. The free markets we learn about in economics class and hear about in the news don't exist. In an idealized free market, every actor has complete information, trade barriers don't exist, firms compete on perfectly level playing fields, and financial transactions fully capture the costs associated with economic activity. In an imaginary world where all these conditions are met, free markets, guided by capitalism's invisible hand, distribute resources in the most efficient and equitable way possible. It is a beautiful idea, but it isn't how the real world works. None of these assumptions are true in the real world. When these assumptions are not met, markets fail to allocate resources fairly. These market failures distort the economy, resulting in lower economic activity and reduced social well-being. We are all worse off when we allow market failures to persist. In the context of climate change, one huge and costly market failure is that the environmental and societal costs associated with burning fossil fuels are not captured by their prices. This is a textbook example of an externality—a cost (or benefit) associated with economic activity that affects third parties who did not choose to incur that cost (or benefit). This is where a carbon tax comes in and why, despite the stigma associated with the word "tax," taxing carbon is entirely consistent with mainstream economic theory. It is a market-based solution that addresses a clear market failure by internalizing the external costs of carbon emissions.

"People are vulnerable ... because they don’t have an accurate view of the economy to begin with.” Robert Reich This resonates with me. I feel that our shared common sense cannot make much sense out of the story we are being sold today, about the economy. Why is it so hard to make sense of this story? It's not you. It's the story. It is obsolete. Incomplete. And fundamentally flawed. It is a story we inherited from the closing decades of the 20th Century, that starts out as a 19th Century social narrative of PROGRESS into an infinitely receding frontier for endless market expansion through technological innovation and economies of scale that gets reduced over the course of the 20th Century to GROWTH as the simple numerical increase in the volume of qualitatively undifferentiated transactions measured in prices paid in money from one period of measurement to the next, severing all common sense connections between quantities of money and quality of life, and replacing common sense with the nonsense that more is alway better. We are being sold a story of the economy as the production and distribution of goods and services through markets for allocating scarcity through price, roiled by the forces of Creative Destruction. We are being told that we each and all must work hard to produce and consume more, so that the markets can give us more. In exchange, we are promised: 1. that more will always be better; and 2. that we will each, as freely self-determining market participants, will be free to determine, each for ourselves, our own personal and individual share of the more that the markets give us. We sold that the markets always get it right, except when they don't, and that GOVERNMENT is bad because it oppresses through regulation our freedom of self-determination in the markets, except when the markets fail. Then Government is needed to shore up the Markets, and get them going again. Civil Society is marginalized. Finance is trivialized. All social decision making is reduced to this mythical battle between Markets and Government, private vs public, policy vs price, shared vs individual, coercion vs. FREEDOM! It is a very violent, contentious, conflict-ridden way of describing our uniquely human way of being in an artificial world that we make together, for ourselves to live in, through our technologies, out of the world of Nature into which we all are born, as a mutual aid society for sharing an abundance of technology solutions to the everyday problems of all of us, as everyday people, living our best lives under the circumstances every day, through networks of connections for enterprise and exchange using money as a legal instrument for effecting transaction between people separated by distances of time, place and social connection that is also the social energy through which society directs our individual insight and initiative towards some activities and away from others.

22 Things Economic Developers Need to Know This Week The stories Dane thinks you need to see. April 11, 2024 edition.