he Psychology of Money with Claudia Hammond. Why don’t money and friendship mix? Can money buy happiness? Why does money have such a hold on us? The surprising psychology of money reveals that our relationship with it is more complex than we might think. BBC Radio 4 broadcaster Claudia Hammond explores the latest research in psychology, neuroscience, biology and behavioral economics, and offers some simple yet effective advice that can help us improve our relationship with money.
1 September 2016
CityLab: Do Taxes Really Cause the Rich to Move?
Like its economy, America’s tax system is heavy up top—especially at the state level, where payments from the super-rich form a substantial share of revenue. When hedge-fund magnate David Tepper announced he was moving from New Jersey to Florida, the state estimated that it could face millions of dollars in lost taxes, putting New Jersey’s revenue base and budget at risk. Indeed, income tax rates vary considerably across states, from zero in places like Florida to nearly nine percent or more in states like New York. [...]
Strikingly, they find that millionaires move at a lower rate (2.4 percent) than the population as a whole (2.9 percent). The chart below, which tracks migration rates from 1999 to 2011, shows how these rates fall as incomes rise. Those making $10,000 a year have the highest migration rates—about 4.5 percent per year. As incomes climb, the migration rate falls steadily, until it reaches its lowest point (2 percent) for those making $90,000 a year. Once incomes reach millionaire-level, the migration rate increases, but only slightly. As the study points out, “higher-income earners show greater residential stability … than do low-income earners.” In other words, the well-off tend to be even more settled than other residents. [...]
That said, those millionaires who do move are more likely to move to a lower-tax state, the study finds. On average, a 10 percent increase in a state’s top tax rate leads to a one percent decline in its millionaires. Still, only around 2 percent of millionaires move due to income taxes, according to the study.
Al Jazeera: Texas colleges open with guns allowed in classrooms
Under a new campus carry law in Texas, concealed handguns are now allowed to be carried in university buildings, including classrooms and dorms.
Moye, whose curriculum at the University of North Texas (UNT) centres on race relations in US history, told Al Jazeera that he worries especially about the presence of guns during lectures on topics that arouse strong feelings.
"Will I have to censor myself or tamp down discussions?" he asked. [...]
While public universities are obliged to respect the law, private academic institutions have the chance to opt out. Dozens of private universities in Texas have decided to ban campus carry, while only one will permit it. [...]
More than 100,000 Americans are killed or injured by gun violence each year, according to The Joyce Foundation, an organisation that lobbies for gun control and policies to reduce and prevent gun violence.
TED Talk: The jobs we'll lose to machines -- and the ones we won't | Anthony Goldbloom
Machine learning isn't just for simple tasks like assessing credit risk and sorting mail anymore -- today, it's capable of far more complex applications, like grading essays and diagnosing diseases. With these advances comes an uneasy question: Will a robot do your job in the future?
NBC News: What will happen to the GOP after Trump: Beyond Trump
The GOP for years was a diverse but sturdy three-legged stool of security hawks, tax cutters and religious conservatives. Within that coalition, stakeholders might jostle for prominence but generally got along, united by the common goal of winning elections.
Divisions within the party existed before Trump won the 2016 nomination, but were exacerbated in recent years as establishment Republicans battled with conservative populists over a variety of hot-button issues, including immigration. Tactical fights erupted over whether to threaten government shutdowns and how much to compromise with Democrats. Smaller factions within the party, like libertarians, battled to push their policies to the top of the agenda. [...]
Trump violated party orthodoxy on trade, entitlement reform, money in politics and national security. He exposed a huge portion of the Republican base that either disagreed with party leaders on key issues or didn’t care what they had to say. To some degree, the celebrity candidate challenged the idea that policy proposals even mattered: His own positions were far from consistent; he shifted regularly, even on signature issues; and he scoffed at the need for depth or nuance. The thrice-married candidate’s checkered personal history and crude rhetoric flew in the face of the party’s religious, conservative image. And his appeals to bigotry forced some Republicans to consider whether the left’s portrayal of the GOP as the party of white resentment was more accurate than they had once thought. [...]
Trump has said his vision for the GOP is a “worker’s party.” In a break from the party’s smaller-government past, he has suggested a massive federal investment in infrastructure to provide jobs directly to struggling areas, not unlike the federal stimulus package President Obama pushed through early in his first term over nearly unanimous GOP opposition. [...]
Proponents of this theory, who include prominent “reform conservative” writers like New York Times columnist Ross Douthat and National Review editor Reihan Salam, mostly loathe Trump, especially his appeals to racial prejudice. But they’ve also spent years warning Republicans of a rude awakening if they don’t find ways to address his voters’ concerns about stagnant wages and competition from immigrants and foreign rivals. Douthat has described Trumpism as “reform conservatism’s evil twin” — an unworkable agenda GOP leaders brought upon themselves by ignoring the conservative intellectuals’ think tank-friendly alternative.
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