Documentary Of The Week: The Network Effect Behind Rising Inequality


Written by John Lounsbury

Thomas Piketty's Capital in the Twenty-First Century has rightly focused attention on economic inequality, but his explanation of why it occurs is not compelling. I explain the simple 'network' effect behind inequality in phenomena from earthquakes to income and then outline work by myself, Matheus Grasselli and Gael Giraud that argues that rising inequality is a sign of impending economic breakdown. This is the 11th lecture in this series on orientation to economics. Previous lectures are listed after this video, below.


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What We Read Today 05 May 2016

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary 'reading list' which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for 'reading list' items are gratefully reviewed, although sometimes space limits the number included.

This feature is published every day late afternoon New York time. For early morning review of headlines see "The Early Bird" published every day in the early am at GEI News (membership not required for access to "The Early Bird".).


Every day most of this column ("What We Read Today") is available only to GEI members.

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 more features, analysis, studies, and news published in the last week

Nancy Cartwright's Defense of and Attack on Economic Modelling

by Philip Pilkington

Fixing the Economists Article of the Week

Recently I thought it might be interesting to give the other side in the modelling debate a chance. Frankly, I have not found the debates online to be particularly stimulating or interesting, so I thought I'd go to what is supposed to be a prime source.


Infographic Of The Day: Detox Smoothie Recipes To Cleanse Your Body Naturally

Detoxing has become a very popular trend lately, and for good reason.

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Video of the Day:

If your next vacation is to North Korea then you might want to cross these activities off your itinerary...driving, drinking, and making phone calls are just a few of the things that can land you in prison if you perform them in the DPRK. Check out these 10 everyday activities that are North Korean no-nos.

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 more investing, markets, precious metals & forex Technical Summary 05 May 2016

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Bank Of North Dakota Soars Despite Oil Bust: A Blueprint For California?

by Ellen Brown, Web of Debt

Despite North Dakota's collapsing oil market, its state-owned bank continues to report record profits. This article looks at what California, with fifty times North Dakota's population, could do following that state's lead.

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 USA economy at a glance (boxed items are updates in last 7 days)

30 April 2016 Initial Unemployment Claims Rolling Average Worsened. 61 Consecutive Weeks Of Initial Claims Below 300,000

Weekly Initial Unemployment Claims

The market expectations for weekly initial unemployment claims (from Bloomberg) were 256,000 to 271,000 (consensus 262,000), and the Department of Labor reported 274,000 new claims. The more important (because of the volatility in the weekly reported claims and seasonality errors in adjusting the data) 4 week moving average moved from 256,000 (reported last week as 256,000) to 258,000. The rolling averages generally have been equal to or under 300,000 since August 2014.

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