Daily Archives: May 9, 2019

We need to rethink our economic assumptions

By Isabel V. Sawhill – To defeat Trump in the upcoming election, Democrats are advancing a set of proposals engineered to excite their base: a single payer health system, college for all, a guaranteed jobs program.

All are worthy of debate but perhaps the problems go deeper. Perhaps they go to the core of our beliefs about how the world works, what makes the economy tick, and how this relates to human welfare.

The dominant paradigm right now is what is sometimes called Neoliberalism which I define as a belief in the efficiency of markets. Those on the left believe that a market economy needs more than a little help from government. There are social costs and benefits that markets ignore; economic downturns are not self-correcting; and a lack of competition or transparency can harm consumers.

By addressing these and other shortcomings, government can free the market to do what it does best. Still, the central belief is that markets are the most efficient way to organize a society and by extension optimize individual freedom.

Critics of this paradigm note that it is fundamentally flawed. Human beings are not just consumers, they don’t always behave rationally, and they don’t always maximize their own well-being. They need a sense of community, they care about the welfare of others, and their sense of what matters goes well beyond a larger GDP. They respond not just to economic incentives but to the desire for respect from their peers, to social norms, and to moral or religious principles.

There is an efficient allocation of resources to go with every possible allocation of dollar votes and the distribution of dollar votes should be a communal decision arrived at by democratic means.

At the core of the neoliberal theory – arguably its most influential precept — is the idea that people are paid what they are worth.

If incomes are unequal it’s because skills and talents are unequal. The rich deserve their riches because, for the most part, they earned them. The poor lack income because they have too little education or the other skills needed to get ahead.

There is a lot that’s ignored in the wages equal marginal productivity equation: the asymmetry of bargaining power, the difficulty of discerning who contributes what, the stickiness of established wage norms and employment relationships, and the lack of competition. more>

From Europe-as-project to a real political community

By Marija Bartl – Seeing the EU as a ‘project’ echoes a longstanding preoccupation with Europe’s supposed destination—with its directionality. This is omnipresent in its constitutional documents (‘ever closer union’), its legislation (relentlessly oriented towards building the internal market) and the case law of its courts (a teleological interpretation of EU law), as well as in underlying political processes (‘more or less Europe’ as the central framing category of political discussion).

It is this preoccupation with directionality that so strikingly sets the EU apart from its member states. We do not query the ‘destination’ of Italy, or Poland—unless we have some cataclysmic event in mind. These political communities just are. Whatever direction they take, and whatever we think of that, is fundamentally a matter of politics.

Presenting the EU as a project frames it as something unfinished that needs further construction. It becomes an entity that is about policies rather than politics—which always needs to move forward and grow, to avoid Macron’s dread ‘status quo and resignation’.

The fact that we are as preoccupied with the EU’s directionality today as we were at its establishment six decades ago is something that should worry us—shouldn’t we know what we are by now?—but it should not come as a surprise. more>

Optimizing the Digital Transformation Process

By Stuart Carlaw – When looking at optimizing the digital transformation process in industrial and manufacturing verticals, the task is complex, fraught with risk and subject to increasing pressures in abundance. ABI Research has outlined a number of best practices that fall within a two-step process that will help in “de-risking” the transformation process.

Probably the most profound challenges for anyone looking to implement a technology-driven transformation process is clearly understanding where you are currently in terms of solution maturity and what the end vision should be. Once you know where you are, then you can realistically look to where to target for advancement.

The Industry 4.0 Maturity Model by ABI Research has been designed to provide companies with a quick snapshot of their maturity level and should be viewed as a tool to help align corporations objectively about not only where they stand in the spectrum of industrial development but also where their vision should be aligned regarding future projects.

Once an organization has a good perspective of where it sits on the maturity scale, the job of avoiding common mistakes becomes a far easier prospect. The chances of chasing unrealistic technology goals and making poor decisions based on stock price rather than operational viability become far less when leadership is honest and aligned around a clear understanding of state zero represented in today’s modus operandi.

However, any company is not out of the woods until it galvanizes around a few golden rules when it pivots towards making meaningful changes to your future fortunes. >more>

Updates from Adobe

Beautiful Disruptions
By Charles Purdy – French artist Arthur-Louis Ignoré, better known as Ali, arrived in the city of Rennes eight years ago to begin his art studies. Since then, his public murals and street art have become well known in the city—and beyond.

Ali’s first works developed in a circular fashion; he describes them as mandalas or kolams. In the early days, he always worked without making sketches or plans, or using tools beyond his painting or drawing implements.

He adds, “Since I wasn’t asking permission to paint in these spaces, I had to work fast. Once I’d chosen a place, I would define a center and then add elements one by one, enlarging the circle.”

As time has progressed, his works have become larger and more complex, so he likes to have an idea of the overall form he’s going to create before he starts working—though he still creates each piece’s patterns and ornamentation as he goes.

A recent example of Ali’s large-scale work is the more than 11,000-square-foot mural on the roof of the family welfare (CAF) building in Rennes, which he created for that city’s Maintenant festival.

“For this project, I first traced out the lines that form the basic structure. Then, as with my smaller works, I filled in the shapes and added motifs and ornamentation, organizing everything in a symmetrical manner.” more>

Related>