economics

Economics, Airlines, And Education

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Admittedly the “economics of airlines” doesn’t sound like exact fan-to-pro stuff here, except for travel and airline model fanatics, the Washington Monthly has a fascinating deconstruction of the continuously stupid state of airlines in the US that’s worth reading.

As opposed to analyzing the article – which stands on its own – I’d like to say “more of this, please” and note that, like it or not, this is stuff you should be reading.

Yes, this is a plea for you, my fellow geeks, to get a hell of a lot more into economics.

No, it doesn’t look easy. Yes, it can be obscure. Yes, it can be depressing. But understanding economics is vital to your survival. Face it, we live in a time where a presidential candidate can claim responsibility for a program he opposed, so it’s time to pay attention. ).

If you’re not into economics like I am, then there’s two things to remember:

  • Economics affects stuff you like. For instance if you do travel a lot, the Washington Monthly article really IS useful.
  • Economics lets you succeed.
  • This affects your survival, so Read Or Die.

One of those ought to motivate you.

That’s why I treasure articles like that deep analysis as I learn from it – because I do travel and have an interest in that part of the economy. It’s something that pertains to my interests, gives me ideas on success (I certainly know to watch airports now for my travel plans), and it helps me prepare for what will probably be some inevitable upheaval in airlines. Again.

– Steven Savage

This May Explain a Few Things About New Jersey

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I have friends in NJ, and nearly moved there myself once.  Apparently I dodged a Snooki because it did really lousy economically the last year.

This is one of those reminders of why you follow local economic news – it can be very revealing.  Take it from a Silicon Valley guy where economic issues change if you drive a mile or two, and 3 major cities combine into a diverse megaregion.

– Steven Savage

The Letter Heard Round The World

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If you haven’t seen this bouncing around the internet, here you go: a very public letter of resignation from Goldman-Sachs from Greg Smith, one of their executive directors.  You can guess by the fact this is very public he wasn’t happy, and essentially sites a declining culture focused on quick profits over relationships and dehumanizing to clients.

So my guess is that you don’t feel you have to read it because you’re nodding vigorously.  Still, take the time to go through it.

I’ve followed some pushback, but most of it is assuming he was disgruntled – but few disgruntled people tell off a company that large (and to an extent an entire industry) over a low bonus or a lack of promotion.  If that was the case, we’d see a lot more of it.

Curious where Mr. Smith goes next and if this letter will produce any actions or penetrate further into public conciousness.  Certainly there’s concern over financial regulation – and I’m wondering just how badly he’s screwed Goldman-Sachs.

– Steven Savage