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Thread: The Economics Thread

  1. #151
    International Vice-Captain Redbacks's Avatar
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    Our own local Guardian 'feral abacus' ponders why wages are stagnant and considers it an economic mystery...if only there was a theory that predicted this exact outcome from stimulus spending that could help him understand...

  2. #152
    International Debutant Victor Ian's Avatar
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    Watson posted this in another thread

    Poland's Conservative Government Approves Ban on Sunday Shopping

    Polandís ruling party approved a law that will gradually impose a ban on Sunday shopping, meeting the demand of its conservative Catholic supporters with a measure that risks undermining economic growth and hitting corporate profits and real-estate investors.

    The Law & Justice party, which has vowed to pull the European Unionís largest eastern member out of the blocís mainstream and return it to its traditional roots,*passed a law on Friday to force retail businesses to close for two Sundays a month next year and for all but a few exceptions in 2020. Backed by labor unions and the Catholic church, the bill must now be approved by the upper house of parliament and signed into law by President Andrzej Duda....

    https://www.bloomberg.com/news/artic...unday-shopping
    It got me wondering... would a ban on Sunday shopping adversely effect an economy? Wouldn't people just buy those same things on another day? Is there any good proof that Weekend trading helps the economy, rather than just helping people have more freedom over when they shop?

  3. #153
    International Coach Ikki's Avatar
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    Some people will only work on Sundays (second jobs) and others can only buy things on that day so it will hit a certain demographic for sure. Depends how much of a proportion these people are in the economy to know how adverse it will be. Even a single digit percentage, over time, can be significant though.
    Last edited by Ikki; 03-12-2017 at 01:02 AM.
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  4. #154
    Eternal Optimist / Cricket Web Staff Member GIMH's Avatar
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    ****s me that big supermarkets close at 4 on a Sunday here. Archaic


  5. #155
    Cricket Web Staff Member Burgey's Avatar
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    So long as people get paid appropriate penalty rates for working weekends, no problem.

  6. #156
    Global Moderator Spark's Avatar
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    Sunday shopping bans are social decisions, not economic ones. They aren't done with any care for what impact it'll be on the GDP figures or the retail spending or what have you, it's entirely about what society perceives as the purpose of Sunday as a day.
    do you think people will be allowed to make violins?
    who's going to make the violins?

    forever 63*

  7. #157
    International Debutant Victor Ian's Avatar
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    Cool. Thanks.

  8. #158
    Global Moderator Spark's Avatar
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    They're still **** though. Really annoying as a student in Switzerland, finding out that you've suddenly run out of something like dishwashing liquid and not being able to buy anything at the local supermarket because it's Sunday.

  9. #159
    International Captain StephenZA's Avatar
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    Quote Originally Posted by Burgey View Post
    So long as people get paid appropriate penalty rates for working weekends, no problem.
    Seems harsh penalizing workers for working weekends.... not all of us like attending church.
    "Here are the opinions on which my facts are based." - Humanity
    "Man occasionally stumbles on the truth, but then just picks himself up and hurries on regardless." - Anonymous

  10. #160
    Global Moderator harsh.ag's Avatar
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    Quote Originally Posted by StephenZA View Post
    Seems harsh penalizing workers for working weekends.... not all of us like attending church.
    Not sure if serious or kidding.
    ~ Do you think I care for you so little that betraying me would make a difference ~

  11. #161
    Global Moderator harsh.ag's Avatar
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    Also the Sunday market closing is a nice way to lose more business to amazon.

  12. #162
    International Captain StephenZA's Avatar
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    Quote Originally Posted by harsh.ag View Post
    Not sure if serious or kidding.
    Not serious....

  13. #163
    Request Your Custom Title Now! Uppercut's Avatar
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    Not that Iím in favour, but I donít think thereís much evidence that it adversely impacts GDP, though the effect is tough to isolate and is surely culture-dependent anyway. But in Western Europe you just see crazy-high productivity, suggesting that almost all of the custom moves to the working week. There are also indirect (but very much observable) benefits to stuff like workersí mental health, that feed into better economic performance. The correct answer to Victorís query is that nobody knows.

  14. #164
    International Captain StephenZA's Avatar
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    scientificamerican_how-technology-could-help-fix-our-broken-financial-system

    Thought this would be better here than in the Bitcoin thread, found it interesting... (longish article)

  15. #165
    Global Moderator harsh.ag's Avatar
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    Food for thought: http://laborcenter.berkeley.edu/california-is-working/

    Beginning in 2011, California implemented an ambitious policy agenda aimed at strengthening workers’ rights, improving the environment, enhancing its safety net, raising tax revenue, and fixing the state’s infrastructure. This policy agenda does not appear to have reduced job growth or slowed the economy, and the policies appear to have met their intended goals: raising the wages of low-wage workers, increasing the rate of health insurance coverage, decreasing wage inequality, and helping the state hit its 2020 climate change goals.

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