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Category: economics – Page 216

Chile is producing so much solar power, it’s giving it away for free

Market forces often produce strange quirks in the economic system, like the one we’re seeing in Chile this year: the country is producing so much solar power that it’s being sold for… nothing at all.

While it’s incredibly encouraging to see so much expansion in the country’s renewable energy output, this huge amount of supply does actually cause problems for the companies looking to invest in solar energy.

Solar capacity on Chile’s central power grid (called SIC or Sistema Interconectado Central) has more than quadrupled over the past three years to 770 megawatts – good news for the environment and customers paying their electricity bills.

Switzerland basic income: Landmark vote looms

“Supporters point to the fact that 21st-Century work is increasingly automated, with more and more traditional jobs, in factories, retail and even in finance and accounting, being done by machines. And they do not need salaries.”

(I highly recommend this article, with all kinds of pros and cons, spare a couple of minutes and read it)

Switzerland is holding a landmark vote on whether to give each citizen a guaranteed basic income, the BBC’s Imogen Foulkes reports.

Scientists want to perfect humanity with synthetic DNA

Following a controversial top-secret meeting last month, a group of scientists have announced that they’re working on synthesizing human genes from scratch. The project, currently titled HGP-Write, has the stated aim of reducing the cost of gene synthesis to “address a number of human health challenges.” As the group explains, that includes growing replacement organs, engineering cancer resistance and building new vaccinations using human cells. But in order for all of that to happen, the scientists may have to also work on developing a blueprint for what a perfect human would look like.

In some ways, the concept is just an extension of current gene editing (CRISPR) techniques that are proving their worth by saving lives. CRISPR has already been used to save the life of a one-year-old girl with a terminal case of drug-resistant leukemia. Other initiatives using the system involve curing hemophilia and HIV, although the latter has proven capable of fighting back against attempts to kill it. This new project, meanwhile, will devote time and resources to examining the ethics and economics of how far we should go with gene editing.

HGP-Write is being led by DNA pioneer George Church, a Harvard biologist who is already working on various projects to tweak humanity. In a profile, Stat revealed that the scientist published a paper in 2014 pushing “de novo synthesis,” the concept of creating perfect genes from scratch. In early 2015, he used CRISPR to implant wooly mammoth DNA into a living Asian elephant as the first step toward bringing extinct animals back from the dead. Which, when you write it down like that, makes him sound like a less plausible version of John Hammond, the fictional creator of Jurassic Park.

Universal Basic Income Hits the U.S—Citizens Will Get Paid Just For Being Born

Y Combinator, a seed accelerator and startup incubator, plans to inaugurate a short-term “universal basic income” experiment in Oakland, California; it’s a first step toward a larger, projected five-year study of the guaranteed cost-of-living salary.

There’s been a lot of talk lately about “basic income”—the notion of a guaranteed financial disbursement to every human being simply for being alive.

It’s an idea that has garnered a great deal of support in certain circles, for obvious reasons (free money); however, many see it as the natural progression of society…as the only viable way of dealing with issues like increased automation, poverty, etc. Indeed, many see in a universal basic income (UBI) an instrument of liberty, and an effective tool for combating the threats of social unrest, economic dislocation, and various other forms of civil strife that are often the corollaries of unemployment.

Here’s why the inventor of the Internet supports basic income

With the robot economy looming large in the coming decades, one solution to vanishing jobs may simply be to give people money regardless of whether or not they work.

That idea is called “basic income,” and it just gained the support of one of the tech world’s founding fathers, Internet inventor Tim Berners-Lee.

“I think a basic income is one of the ways of addressing massive global inequality,” Berners-Lee, who founded the Web in 1989, explained on a recent episode of The Economist podcast.

Can Tracking Our Hormones Make Us Smarter With Money?

Bad with money? Blame it on your hormones according to Richard Thaler.

Let’s face it: most of us suck at managing money.

According to a National Bureau of Economics working paper published this March, roughly three quarters of all American households carry some form of debt. 40% haven’t paid off their credit cards. Nearly half have no savings at all. And the US isn’t alone: Canada, the UK and Australia are in roughly the same debt-ridden neighborhood.

There’s no doubt that we’re bad with money. But according to Richard Thaler, an economist at the University Chicago, we’re not (entirely) to blame.

The Fourth Industrial Revolution

Ubiquitous, mobile supercomputing. Artificially-intelligent robots. Self-driving cars. Neuro-technological brain enhancements. Genetic editing. The evidence of dramatic change is all around us and it’s happening at exponential speed.

Previous industrial revolutions liberated humankind from animal power, made mass production possible and brought digital capabilities to billions of people. This Fourth Industrial Revolution is, however, fundamentally different. It is characterized by a range of new technologies that are fusing the physical, digital and biological worlds, impacting all disciplines, economies and industries, and even challenging ideas about what it means to be human.

http://www.weforum.org/

The BIG Library: Books About Basic Income

Somewhere along the way people started considering me somewhat of an expert on the topic of basic income and so I’m frequently asked for book recommendations. Because of that, I put together a Listmania list, but Listmania no longer exists so I’ve decided to put together a new more comprehensive list here on Medium which I will make a point of updating as new books are released. If you don’t see a book here and think it should be listed, please let me know so I can add it.

Optionally, if you wish to purchase one of these books, please consider using Amazon Smile which you can do by changing www.amazon.com in the url to smile.amazon.com. This will give a portion of the purchase to charity, and the charity I recommend is GiveDirectly because that will help support their historic 10–15 year long universal basic income experiment in West Africa.

Also, due to popular request, books of fiction that include basic income can be found at the end of this list. And if you’re looking for academic papers to read instead, here’s a great list on basicincome.org.

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