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Economics from the Top Down

Economics from the Top Down
New ideas in economics and the social sciences
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RBrowser AutomationData CollectionHTMLJavascriptEconomics and Business
Published
Author Blair Fix

This week I’m sharing some tips for web scraping. The internet is overflowing with information. But it usually takes some work to get the data into a usable form. Here are some tricks for making that happen. Scraping starts with downloading Every scrape job starts with a download. When you view a website on your computer, your browser is just displaying data that it downloaded from the website’s server.

HierarchyCEO PayHierarchical DespotismHierarchical PowerHierarchy Model Of IncomeEconomics and Business
Published
Author Blair Fix

Download PDF Abstract Although the determinants of income are complex, the results are surprisingly uniform. To a first approximation, top incomes follow a power-law distribution, and the redistribution of income corresponds to a change in the power-law exponent. Given the messiness of the struggle for resources, why is the outcome so simple?

HierarchyCapitalismIncomeIncome InequalityInterviewEconomics and Business
Published
Author Blair Fix

Last week I had the pleasure to chat with Rachel Donald on her podcast ‘Platform’. The show features people who are ‘pissed off with capitalism’. Its goal is to give a platform for under-reported topics that deserve traction and attention. Rachel and I talked about a wide range of topics, but I particularly enjoyed discussing my research on hierarchy and income.

Capital As PowerAquisitionsBig TechChris MoureCorporate PowerEconomics and Business
Published
Author Blair Fix

Political economist Chris Mouré has a new paper out in the Review of Capital as Power . It’s called ‘Soft-wars’, and it is a fascinating case study of the behavior of big tech. The story starts in 2011, when Microsoft led a $4.5 billion consortium purchase of Nortel and Novel. Later than year, Google responded by buying Motorola for $12.9 billion.

Institution SizeBig BangCreeping ComplexityCultural EvolutionEvolution Of Organism SizeEconomics and Business
Published
Author Blair Fix

One of the challenges of studying the past is that time has a maddening way of erasing evidence. Take the origin of life — the ultimate cold case. Had the first organisms been wise enough to fossilize themselves, we would know exactly how life began. Fortunately, the first organisms did preserve themselves, at least in rough form. That’s because life is itself a kind of time capsule.

EnergyInstitution SizeBook ReviewFirm AgeGeoffrey WestEconomics and Business
Published
Author Blair Fix

For several years, people have been urging me to read Geoffrey West’s book Scale , claiming that his work overlaps with my own. Having read the book, I largely agree (with some caveats below). Geoffrey West is a physicist who’s become famous for studying ‘scaling’ effects across life on Earth. What is ‘scaling’? It’s best explained through an example. Figure 1 (taken from West’s book) shows how animals’ metabolism varies with body mass.

Capital As PowerAntitrustAntitrust LawBichler And NitzanBig CorporationsEconomics and Business
Published
Author Blair Fix

I recently had a lively Twitter debate with Jonathan Nitzan, Shimshon Bichler and Cory Doctorow 1 about the future of big corporations in the United States. The debate was prompted by Doctorow’s piece ‘End of the line for Reaganomics’, which I reposted on capitalaspower.com. Doctorow argues that we may be witnessing a sea change in the way governments treat big corporations.

Capital As PowerEconomic HistoryMoney CreationOwnershipProperty RightsEconomics and Business
Published
Author Blair Fix

In a series of essays published in 2013 and 2014 on capitaspower.com, political economist Tim Di Muzio explored the concept of ‘sabotage’ as it applies to capitalist power. I recently rediscovered these essays and was so impressed by them that I have reposted them here as a single piece. About the author: Tim Di Muzio is a researcher at the University of Wollongong.

RamblingsDemocracyPowerPragmatismPrinciplesEconomics and Business
Published
Author Blair Fix

Yesterday, Canada had an election that was notable for its pointlessness. The Liberal party went into the election with a minority government. And it came out with the same thing. The election was, however, an interesting testament to the pragmatism of the powerful. Like Barack Obama, Canadian Prime Minister Justin Trudeau is gifted at lofty rhetoric. But he’s ultimately a pragmatist, dedicated to holding on to power.

Open ScienceStock MarketStock Market DataStock PricesEconomics and Business
Published
Author Blair Fix

They say that knowledge is power. Well, in capitalism, knowledge is also money … but only if you keep it under lock and key. Hence, researchers who study capitalism are often faced with a dilemma: the best data is kept behind a hefty paywall. The only way to get access is if your institution pays for a subscription. And if you’re not lucky enough to work for a university, you’re out of luck.

EnergyHierarchyAltruismConcentration Of Hierarchical PowerEconomic GrowthEconomics and Business
Published
Author Blair Fix

I have a new paper out in the Evolutionary and Institutional Economics Review . It’s called ‘Economic Development and the Death of the Free Market’. The paper explores a question that has long fascinated me: how do human societies change as they consume more energy? As you probably guessed, the paper’s title gives away the conclusion. Consuming more energy seems to involve less free market and more hierarchy.