Daily Archives: January 8, 2016

Huge currency zones don’t work – we need one per city

BOOK REVIEW

The Wonderful Wizard of Oz, Author: L Frank Baum.

By Mark Griffith – How many currencies does the world need?

The euro was a colossal bet on the proposition that Europe, at any rate, needs only one. You will have noticed that the experiment is going badly. And why is that?

The one-country-one-currency paradigm, which actually dates back only to 18th-century English and French banking centralization, seems to most of us the only way it’s ever been.

In the 1970s, the American/Canadian economist Jane Jacobs [2, 3, 4 5] reached a radically simple insight.

Her lifelong interest in urban history convinced her that cities, not countries, drive economics. Cities are messy, unplanned places where people who otherwise would never meet devise joint projects. Hence, Jacobs argued, all innovation happens in cities. It made sense, then, that each city’s currency should follow its business cycle. more> https://goo.gl/S7rh6o

These Four Common Mistakes Are Making You Less Productive At Work

BOOK REVIEW

The Productivity Project, Author: Chris Bailey.

By P. Claire Dodson – In his book, he stresses the importance of figuring out your Biological Prime Time, the time of day when you have the most energy, which for Bailey was between 6 p.m. and 8 p.m. Working earlier wasn’t helping him work smarter, but working later was.

“People focus too much on apps,” he says. “You get this divide between feeling like you’ve accomplished something and actually accomplishing something.”

For one of his experiments, Bailey alternated working a 90-hour week with working a 20-hour week. The result? When working 70 more hours, he felt busier and more productive, but he only accomplished slightly more than he did during the short weeks. more> http://goo.gl/7hSSqa

The Internet of Things and malicious refrigerators

By Phil Elmore – In 2014, I described the major obstacles facing the establishment of the IoT.

These include signaling (the fact that not all devices are capable of communicating with each other or of detecting the presence of one another on the same network) and security (because the more connected your devices become, the greater the possibility for security exploits.)

Security is the larger problem because of its broad scope.

In the two weeks between the end of 2013 and the beginning of 2014, 750,000 malicious emails (emails containing viruses, links to viruses, or other security threats) were sent by more than 100,000 household gadgets.

Among those gadgets was an internet-connected refrigerator. Internet-enabled appliances, which run operating systems like Windows or Android, can be co-opted by hackers’ malicious code in the same way your computer or phone can be hijacked. Once taken over by the hacker software, the appliance is used to send spam or to mount denial-of-service attacks.

A hacker who had co-opted multiple internet-equipped refrigerators and garage door openers could use their combined power to inundate an internet target with email or other malicious activity.

Given this, are you ready to plunk down $5,000 for a Samsung smart refrigerator? more> http://goo.gl/cAa25X

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Be Scared of China’s Debt, Not Its Stocks

By Noah Smith – If a stock bubble and crash were China’s only problems, the danger might not be so great. Research shows that bubbles are less damaging to the real economy when they mostly involve equity rather than debt.

Debt crashes inflict harm on the financial system, creating major recessions that take years to repair.

Equity crashes, meanwhile, merely reduce paper wealth. A good example of an equity bubble that wasn’t very harmful was the late 1990s U.S. dot-com boom. When it ended, stock prices were devastated, but the crash led to only the mildest of recessions.

China probably also has a debt problem. more> http://goo.gl/tCn4xo

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