Bitcoin: Launched: 2009; First developed by the pseudonymous Satoshi Nakamoto, then transferred to Bitcoin Foundation. Its code is now open source; Transactions are recorded anonymously on a digital public ledger (“blockchain”); Permissionless, entirely deregulated and decentralized; Bitcoin can be used … Continue reading →
According to a Reuters analysis of federal data, of the 378 metropolitan areas ranked by the change in their share of national employment from 2010 to 2017, 40 percent of the new jobs generated during that time (along with a … Continue reading →
On June 24, the White House issued an executive order aimed at improving price transparency in health care. The order directs the Secretary of Health and Human Services to propose regulation to require hospitals to publicly post standard charge information, … Continue reading →
According to Bloomberg (citing data from the Bank of Russia), between September 2017 and September 2018, the Russian central bank, which has the world’s fifth largest international reserves, more than halved the share of dollars in its reserves, replacing it … Continue reading →
In Knick v. Twp. of Scott, Pennsylvania, decided on June 21, 2019, the U.S. Supreme Court ruled that property owners have an actionable Fifth Amendment takings claim when the government takes their property without paying for it, and therefore may … Continue reading →
On June 14, the New York State Legislature passed and Gov. Cuomo signed into law, the Housing Stability and Tenant Protection Act of 2019 (S6458). Some of the law’s provisions are noted below: Repeal of vacancy decontrol and high-income deregulation: … Continue reading →
The Baumol Effect is the rise in production/labor costs in industries that have experienced little or no gain in productivity over time because they cannot economize on labor so easily in the face of rising wages (i.e. education, the performing … Continue reading →
New York intends to spend $39 million per subway station for the next round of accessibility retrofits, which will add elevators and ramps. This is double what it costs to make a station accessible in London, five times what it costs … Continue reading →
Over half of all credit cards are issued by the “big four” banks: JPMorgan Chase, Citigroup, Wells Fargo, and Bank of America, according to Forbes. Swipe fees – which range between 1.5 percent and three percent in the U.S. – … Continue reading →
A report in Vox attributes Amazon’s zero tax liability on close to $11 billion in 2018 earnings to three factors: 1. Research and development tax credit; The rate of ED reduction was 39% of men above 40 and 65% of … Continue reading →