Links. Mario Draghi, a female Stan and Ollie and female employment, Josh Mason, incentives, productivity
1) Mario Draghi is a civil servant. Norbert Häring thinks it is strange that a civil servant takes part in the G30, providing sensitive information to third parties and committing himself, implicitly or explicitly, to the views of these co-opted bankers.
2) Mario Daghi, in the meanwhile, thinks Greece needs debt restructuring. But first it has to go to the naughty step.
3) Josh Mason has a couple of posts on how business finances
investments dividends: “For the corporate sector as a whole, we have the familiar story. Over the past twenty-five years annual shareholder payouts (dividends plus share repurchases) have approximately doubled, rising from around 3 percent of sales in the 1950s, 60s and 70s to around 6 percent today. Payouts have also become more variable, with periods of high and low payouts corresponding with high and low borrowing.”
4) Eurostat has a new map on the difference between male and female employment rates, 25-34. Note for instance the differences between East Germany and Austria on one side and West Germany on the other side. Note that regions with relatively high female employment rates do not have lower birth rates (for West-Germany: to the contrary!).
5) Eric Lonergan has a post about money which starts more or less with the sentence: “Banks and central banks create deposits, but only central banks create money.” Hmmm… didn’t we have money before central banks existed? And stamps are money, too, even having their own unit of account nowadays. But there are some insights in the post though it’s still weird that he does not seem to understand that these deposits are created to finance financial and real investments as well as the purchase of existing assets (houses…).
6) Sam Bowles explains that even a smart system of penalties and rewards does not make good citizens. You need ‘morality’ too, while the marketisation of behaviour often even backfires as it leads to an increase of shopping and a decrease of moral behaviour.
7) A collective characteristic of the American mind is its obsession with individualism – look here at the predictable Alex Tabarrok drivel about the movie Martian – do his Koch paymasters force him to mention Ayn Rand so now and then?. I’ve seen the move Spy. Funniest one since Life of Brian (for me). There is even some Stan and Ollie magic between the two (female) lead characters. Wow.