Search Results for: economy

Inside India’s booming dark data economy

Longreads Pick
Source: Rest of World
Published: Dec 22, 2020
Length: 16 minutes (4,000 words)

No Cold Beer, No Flowers, and No One to Park the Car: A Shadow Economy Hits the Skids As Restaurant Suppliers Lose Their Jobs

Longreads Pick

Eight million Americans are employed in restaurant-adjacent industries. How are they coping during the pandemic? Anya Schultz interviews a group of business owners and workers around the U.S., including a florist, grease recycler, valet parker, and knife shop owner.

Source: The Counter
Published: Sep 28, 2020
Length: 25 minutes (6,298 words)

We Can Protect the Economy From Pandemics. Why Didn’t We?

Longreads Pick

“A virologist helped crack an impossible problem: how to insure against the economic fallout from devastating viral outbreaks. The plan was ingenious. Yet we’re still in this mess.”

Source: Wired
Published: Jun 16, 2020
Length: 29 minutes (7,325 words)

How To Destroy Texas While Helping The Coal Economy

AP Photo/LM Otero, File

Natural gas, wind, and solar power are all cutting into coal’s profitability, so mining companies are looking for ways to reduce expenses, including reducing clean-up efforts. In their three-part collaboration with Grist and The Texas Tribune, journalists Kiah Collier and Naveena Sadasivam expose the ways the good state of Texas allows coal companies to bypass federal laws about land reclamation in order to save millions in clean-up costs. “Coal companies are required to restore land used for coal mining to the shape it was in before they started digging it up,” Collier and Sadasivam write. This process of reclamation is meant to return mined land to its former condition so people can farm, graze, and even live on it again. Unfortunately, that is not happening.

One article tells how a company violated its contract and federal law and ruined large swaths of a family’s 25,000-acre ranch. One looks at how the town of Rockdale pinned its hopes to an old coal mine that was not properly restored, land where supposedly “pristine lakes” are actually old waste-water pools. The other article looks at the free land the Luminant coal company gave to Sulphur Springs, in East Texas, who intends to turn it into parkland ─ except the company is trying to avoid properly removing a huge mound of toxic dirt and a large, acidic wastewater pool. Instead, they want to cover the lake with a bit more dirt, even though that has proven ineffective for containing toxins, and the city wants to let them and turn the mound, which locals call Mount Thermo, into seating for an amphitheater, and the lake into a fishing pond. An amphitheater built atop toxic heavy metals! It’s lunacy! It’s also obviously about money. The free land is worth $25 million, and leaving the mess saves the company an estimated $4 million. To sell the idea to the public, interested parties have framed the toxic mound as a “community asset,” a gift from the company. Well, isn’t that swell?

In a prepared statement, Luminant spokesperson Meranda Cohn said that the company is committed to completing restoration of the property, including addressing the high acidity at the pit. She said the mound is being left in place at the city’s request and that any implication that Luminant’s deal with Sulphur Springs was solely a cost-saving measure was wrong.

“This transformative project would benefit the people of Sulphur Springs and East Texas for decades to come,” Cohn said. “This is a great example of how a public-private partnership between the city, Luminant, and the [Railroad Commission] can be a win for all.”

In 2017, the Texas Mining and Reclamation Association, of which Luminant is a member, honored Maxwell for his vision, granting him its “elected official of the year” award for “leading the charge to breathe new life into this community asset.”

Not everyone’s on board with this toxic plan.

Ryan King, a biologist at Baylor University who has served as an expert witness in half a dozen federal lawsuits against coal companies, said staff concerns over the company’s reclamation plan are well founded.

“The idea of an amphitheater and having a lot of people right where you can potentially have a lot of airborne dust that is almost certainly going to contain toxic materials seems like a very risky situation,” he said. “That community is either uninformed or being misled about the potential hazards of doing such a thing.”

But Maxwell, the city manager, doesn’t see the problem. He said he trusts the Railroad Commission and Luminant will work it out, and that the company will do the right thing. “We don’t see a lot of risk there,” he said.

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The Gift Economy

Associated Press / Photo illustration by Katie Kosma

Joanne Solomon | Longreads | January 2019 | 13 minutes (3,195 words)

Nine months into our relationship I take my relatively conservative, Argentine, businessman of a boyfriend who doesn’t yet speak fluent English out to the middle of the Nevada desert for Burning Man. My last boyfriend would have fit in perfectly. He owned a didgeridoo. But Eduardo is different. He wears a suit, has health insurance and approaches everything with a fair amount of caution. Asking me, his English teacher, out on the first day of class was a bit out of character. To be clear, this was not tabloid fodder; when we met, he was 34 and I was 35. My 20s were spent teaching puppetry in the South Bronx, and performing in alternative theater festivals. Desperate for a partner, I yearned to be moved up from the kid’s table, and Eduardo felt like a bona fide ADULT. In turn, Eduardo had just gotten out of a long stagnant relationship, and looked to me for levity and fun. I liked being the muse, for a time.

Burning Man is more of an art city than a festival. It pops up the last week in August and absorbs close to 70,000 inhabitants who camp in every form of temporary lodging imaginable: tents, campers, tiny houses. There is Art everywhere. This world is built on the tenets of self-reliance and radical self-expression. Many people are naked and many don costumes in which they weld, cut and busily construct their projects. Burning man commissions larger work from artists who spend their entire year constructing and shipping their work to the desert piece by piece. Artists build otherworldly, giant sculptures, often two or three stories high that participants can climb on, and crawl through. On every corner you can find some sort of installation that inspires, or titillates or offers you something unexpected. And while this world may initially feel lawless, upon deeper inspection you’ll find a hospital, a DMV, an around-the-clock sanitation department, law enforcement, and an airport.
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Elwood, Illinois (Pop. 2,200), Has Become a Vital Hub of America’s Consumer Economy. And It’s Hell.

Longreads Pick

In 2002, developers made a deal with the people of Elwood, Illinois: they’d bring high-paying jobs in the growing warehousing and logistics industry to the centrally-located town in exchange for two decades of tax abatement. Seventeen years later, temp agencies in the region are flourishing, but full-time jobs are few and far between. Meanwhile, tens of thousands of semis have wrought havoc on Will County’s infrastructure — and without enough tax revenue to offset the damage, the town of Elwood has gone more than $30 million in debt trying to fix the roads.

Published: Jan 9, 2019
Length: 21 minutes (5,349 words)

A Stimulus Plan for the Mutual Aid Economy

iStock / Getty / Photo illustration by Katie Kosma

Livia Gershon | Longreads | November 2018 | 9 minutes (2,142 words)

If you’re a highly educated white man without serious disabilities—a description that, not incidentally, fits a large majority of people who make and write about policy in the United States—the economy probably looks like this to you: a web of financial transactions between individuals and companies, with support and guidance from the government. To Leah Lakshmi Piepzna-Samarasinha—a disabled, chronically ill writer and performer—it looks completely different. “Your life is maintained by a complex, non-monetary economy of shared, reciprocal care,” she writes in her new book, Care Work. “You drop off some extra food; I listen to you when you’re freaking out. You share your car with me; I pick you up from the airport. We pass the same twenty dollars back and forth between each other.”

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Happy, Healthy Economy

Francesca Russell / Getty

Livia Gershon | Longreads | August 2018 | 8 minutes (2,015 words)

In 1869, a neurologist named George Beard identified a disease he named neurasthenia, understood as the result of fast-paced excess in growing industrial cities. William James, one of the many patients diagnosed, called it “Americanitis.” According to David Schuster, the author of Neurasthenic Nation (2011), symptoms were physical (headaches, muscle pain, impotence) and psychological (anxiety, depression, irritability, “lack of ambition”). Julie Beck, writing for The Atlantic, observed that, among sufferers, “widespread depletion of nervous energy was thought to be a side effect of progress.”

Recently, there have been a number of disconcerting reports that one might view as new signs of Americanitis. A study by the Centers for Disease Control found that, between 1999 and 2016, the suicide rate increased in nearly every state. Another, from researchers at the University of Michigan, discovered that, over the same period, excessive drinking, particularly among people between the ages of 25 to 34, correlated with a sharp rise in deaths from liver disease. A third, by University of Pittsburgh researchers, suggests that deaths from opioid overdoses, recognized for years as an epidemic, were probably undercounted by 70,000.

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How Southern Cities Are Joining the Knowledge Economy

Ramil Sitdikov/Sputnik via AP

As manufacturing and agriculture declined in the South, once thriving operations have left many empty factories and and new opportunities in their wake. Now startups are taking them over and revitalizing small cities in the process.

At Bloomburg Businessweek, Craig Torres and Catarina Saraiva describe how Greenville, South Carolina has managed to attract highly skilled workers and revive its downtown by building its tech economy. Greenville has a network of investors, a culture of risk-taking, proximity to a research university, and has long made itself attractive to educated college graduates. They have to in order to compete with big tech employers in big cities on both coasts. The question other small Southern cities are asking is whether they can replicate Greenville’s success.

“We tell these communities, ‘Don’t worry: The entrepreneurs are going to put you back to work,’” says Edward Conard, who led Bain Capital’s industrial group and is now an adjunct fellow at the American Enterprise Institute, a Washington think tank. “But they aren’t coming.” Regional economies “are falling further off the technological frontier because companies like Google and Facebook are going to scarf that talent up.”

Greenville has managed to buck the trend. It had almost 5 young businesses per 1,000 people in 2014, the latest year for which data are available—close to the national total of 5.2, Boston’s 5.5, and Chicago’s 5.6. Danville’s total, meanwhile, was 3 per 1,000 people. (None of these cities has been immune to the overall decline in U.S. startups since the 2007-09 recession.)

While pundits focus on the importance of upgrading workforce skills, kick-starting a cycle of wealth-building by attracting and retaining new businesses is a multipronged effort.

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