PLoS ONE: The Network of Global Corporate Control

The Network of Global Corporate Control, as revealed by a research group at ETH Zurich (kind of the Swiss MIT).  Their core finding: a densely connected “super entity” of 147 corporations, about 75% of which are financial intermediaries, has an amount of control which is ~10 times as great as their economic scale would suggest.  They are all majority owned by by other members of the super entity, and so have co-incident interests, and are likely to act as a bloc to protect themselves and each other, and to be subject to simultaneous group failure when under duress.  Not like this is a huge surprise or anything, but it’s nice to see it described in a quantitative framework.

California Dreaming

An hour long interview based documentary by some Dutch filmmakers about the changing social and economic realities of southern California, in the wake of the financial crisis, and America’s general malaise.

It’s dangerous to cling to an identity which is no longer compatible with reality.  Remember the Norse and their Greenlandic colonies.  In the long run I think adaptability is the greatest kind of power you can wield.  Evolutionary power.

We need, in so many ways, to move beyond thinking of ourselves as consumers, instead of citizens.  Consumers, instead of producers and creators.  Society and culture are almost infinitely flexible, if you’ve got the right mindset and a reason to change.

Links for the week of September 11th, 2009

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Continue reading Links for the week of September 11th, 2009

Links for the week of Aug 14th

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Continue reading Links for the week of Aug 14th

Shared Links for Mar 31st

Shared Links for Mar 14th

Shared Links for Mar 9th

Shared Links for Mar 4th

Shared Links for Feb 23rd

  • Goodbye to the Age of Newspapers – I just don't buy the lament of the newspapermen. If the papers were subsidizing the collection of "real" news with ads, how sure are we that people ever wanted news? Why exactly should we believe that there ever was some public interest at heart in journalism? I'd say it's just as likely that the fragmentation of digital media, and the trend toward tabloid fluff, is an indication that nobody (or at least, not enough people) really cared about the "serious" news in the first place. Disaggregated, opinionated, (truly) non-profit journalism will certainly be different than the muckrakers, or Big Media, but it's unclear to me that it will be worse in any way for government transparency, or democratic interchange. (tagged: technology media government transparency democracy )
  • The Crisis of Credit Visualized – Another great popularly accessible explanation of how we got into this mess, this time in cartoon form. Too bad there weren't any regulators in the story! (tagged: economy crisis financial animation mortgage subprime )
  • Bank insolvency: tips & tricks – Never, ever, feed a zombie bank. The great thing (or, one great thing) about blogs is that you can talk about serious and technical issues, using analogies to zombies. Try that in the Economist, or the WSJ. (tagged: economics finance stimulus bailout fed banks zombie )
  • Ann Druyan Talks About Science, Religion, Wonder, Awe, and Carl Sagan – Musings from Ann Druyan (Carl Sagan's partner) on how we might apply the wonder of the cosmos, as revealed by science, toward the creation of naturalist spiritual communities. (tagged: science religion sagan atheism naturalism cosmos spirituality )
  • There's no reason for non-recourse – Options are valuable. That's why we have markets for them. The trillion dollars worth of non-recourse loans (cf pawnbroker) which the Fed is apparently about to offer up to the finance industry, will, because they are non-recourse, lead to a misvaluation of the assets being bought, even if they're being bought by private entities, because the penalty for non-repayment is simply forfeiting the asset (which might very well end up being worthless). The Fed is acting like a pawn shop, but a dumb one: what pawn shop in its right mind would let you exchange your cubic zirconia for half the value of a diamond? (tagged: finance economics crisis bailout fed geithner bernanke )