“The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be exempt from any intellectual influences, are usually slaves of some defunct economist.”
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Would be shocking if we didn’t already know that it was true.
So much for the “whcouddanode” theory of the crisis.
The physical heart of Cleveland is a 10-acre civic space called Public Square, but until recently it wasn’t exactly pulsing with life. Two of downtown’s busiest roadways, Ontario Street and Superior Avenue, bisected the square, and its four quadrants felt neglected and forgotten. Instead of being a destination, it was a place people avoided.
Yet now, following a 15-month, $50 million renovation, Public Square is reopening as a dramatically re-envisioned centerpiece of the city’s ongoing redevelopment efforts. Designed by James Corner Field Operations, the architects behind New York’s High Line, it now has a lush green lawn, unobstructed city views, a full-service cafe with outdoor seating and a mirror pool that reflects the landmark buildings lining the square.
Perhaps most significantly, traffic has been eliminated through the park except for buses.
For places that were meant to be unseen, alleys take up a not-insubstantial amount of space. A 2011 report by Mary Fialko and Jennifer Hampton, graduate students at the University of Washington*, found that in Seattle, there are 217,000 square feet of public alley space downtown, 85 percent of which are underused. The report estimated that reinvigorating alleyways could increase the number of total public space in the city by 50 percent.Alleys, too, are vital players in a city’s overall ecosystem. As the need for cities to rely on more sustainable approaches has become more pressing, the proliferation of trash and flooding in alleyways has come to be seen not only an aesthetic blight, but an environmental one.And as Daniel Freedman of the Los Angeles Sustainability Collaborative says, there’s a lot of crossover between sound environmental practices and livability. Revitalizing an alleyway creates an opportunity to introduce green infrastructure, but also, Freedman says, it invites the surrounding community to collaborate on improvements and make use of the space.
Last week the New York Public Library made over 180,000 images from their digital archives available in the public domain, and free for high-resolution download. Not only are the images available for download, but since they are in the public domain and free of any copyright restrictions, users have the freedom to get creative and alter, modify, and reuse the images in any manner they see fit. Featuring a wide variety of images including drawings, engravings, photographs, maps, postcards, and in some cases, digitized copies of entire books, the collection has been noted for fascinating historical artifacts such as a set of color drawings of Egyptian gods and goddesses, and a digitized book from the 18th century containing over 400 color plates depicting various current and historical fashion trends.
The British Library has continued to release images from its digitized collection, now bordering over one million images on public image-sharing platform Flickr, reports Quartz. Since 2013, the institution’s “Mechanical Curator” has been randomly selecting images or other pages from over 65,000 public-domain books from the 17th, 18th and 19th centuries.
The word Precariat was popularized five or so years ago to describe a rapidly expanding working class with unstable, low-paid jobs. What I call the Middle Precariat, in contrast, are supposed to be properly, comfortably middle class, but it’s not quite working out this way.
There are people like the Floridian couple who both have law degrees—and should be in the prime of their working lives—but can’t afford a car or an apartment and have moved back in with the woman’s elderly mother. There are schoolteachers around the country that work second jobs after their teaching duties are done: one woman in North Dakota I spoke to was heading off to clean houses after the final bell in order to pay her rent.
Many of the Middle Precariat work jobs that used to be solidly middle class. Yet some earn roughly what they did a decade ago. At the same time, middle-class life is now 30 percent more expensive than it was 20 years ago. The Middle Precariat’s jobs are also increasingly contingent—meaning they are composed of short-term contract or shift work, as well as unpaid overtime. Buffeted by Silicon Valley-like calls to maximize disruption, the Middle Precariat may have positions “reimagined.” That cruel euphemism means they are to be replaced by younger, cheaper workers, or even machines.
So good, it made me create an Instagram account just to view his work.
The fate of Germany’s largest bank appears to be sealed. This timeline shows the fall of Deutsche Bank, one of Europe’s most crucial financial institutions.
Another race to the crash: who goes first Deutsche Bank or Italian Banks? Can bankers get politicians to pull the emergency cord? Who gets screwed? Stay tune for Crash 2.0.
Why bank executives are stoking a banking crisis, with Deutsche Bank in their crosshairs.
James McCarthy has 30+ years in finance and private equity, corporate structuring and work-outs, and raising debt and equity as an investor, lender, investment manager, portfolio manager, financial advisor, corporate consultant, work-out consultant, and city planner. Clients have included domestic and offshore institutional investors, investment funds, hedge funds, high net worth investors, and private companies. I hold an MBA from Columbia University and a Master of City & Regional Planning from Rutgers University.
Special interests include green and sustainable design, resilience, passive energy design, waterfront, walkability, transit-oriented design, affordable housing, high-quality and innovative architecture and construction technology, mixed-use development, and the inclusion of public spaces and landscape architecture.