AI vs. the artist, the economics of the art market

With the introduction of many different advanced AI technologies, there has been a divide between creative minds and the creators of the technology. Many of the creators of these digital technologies have started to get into conflicts with many artists. Many lawsuits have begun to emerge on the charges that the machines and automated art creators have used forgery and plagiarized the works of these artists’ stylistic choices and ability to commercialize, exploit and turn something of beauty into profit. To fully understand this, we need to take a step back. This conflict has started to emerge due to the Continue reading AI vs. the artist, the economics of the art market

The Whole Can Be Less Expensive than the Sum of Its Parts Pt. 2:

This is a continuation of blogpost #2. While it’s clear that a weird phenomenon is taking place, it isn’t clear what the crux cause of the broader market situation. The question still remains why was I rcenetly able to buy a prebuilt PC from MSI that was less expensive than if I had bought the parts individually? Let’s generalize this scenario: Scenario: Given two computers with the equivalent (equivalent here meaning performance-wise) parts where: one of which is pre-built and the other of which is self-assembled, how can the situation arise where the pre-built is less expensive than the self-assembled?                                                                  Continue reading The Whole Can Be Less Expensive than the Sum of Its Parts Pt. 2:

The Whole Can Be Less Expensive than the Sum of Its Parts Pt. 1:

This post is a continuation of my first blog post. In the first post, I mentioned pre-built computers—computers with parts pre-assembled by manufacturers—can be a cost-efficient alternative to a custom-built computer—computers with individual parts bought and assembled by the consumer. This should strike you as strange as it violates common sense. This is implying computer parts plus the labor to assemble those parts cost more than solely computer parts. You might be wondering why is this the case If you recall from blogpost #1, GPUs are one of the essential parts of a computer. They have always been traditionally expensive, Continue reading The Whole Can Be Less Expensive than the Sum of Its Parts Pt. 1:

Unretirement

Unretirement is once again trending up and returning to levels that we haven’t seen since before the pandemic. Unretirement is a phenomenon in which someone who retires enters back into the labor market within a year. The unretirement rate reached 3.2 percent last month, compared to pandemic levels of just 2 percent. The image below shows the unretirement rate from 2019 to 2022.  The rise in unretirement could be attributed to several factors including the rising cost of living, rising inflation, and the return to in person events following shutdowns caused by the pandemic. Plus because the current job market Continue reading Unretirement

Modeling a Risk-Averse Investor in the Stock Market Pt. 3: Trying to Find a Closer Approximation for the net value

In this blogpost, I will attempt to find an approximation for the series posted in part 2. In part #2, we had the table:   ROI based upon the period we invested in  (1/r)         Sum of each investment   Period 1 ROI  Period 2 ROI Period 3 ROI Period 4 ROI Period J   *SPECIAL CASE* $1/1 $1/1 $1/1 $1/1 + … 1+1+1+1 + …  = $J Investment #1 $1/2 $1/4 $1/8 $1/16 + … ½ + ¼ + 1/8 + 1/16 + … = $2.00 Investment #2 $1/3 $1/9 $1/27 $1/81   + … $1/3 Continue reading Modeling a Risk-Averse Investor in the Stock Market Pt. 3: Trying to Find a Closer Approximation for the net value

Mental Health and Job Satisfaction by Shirley Mazsltov-Ast: Senior thesis highlight

In honor of graduation, I spoke with graduating Economics and BLP major Shirley Mazsltov-Ast about her senior thesis. Her thesis examined the effects of depression on job satisfaction. Using data from the National Longitudinal Study of the Bureau of Labor Statistics she explored the correlation between one’s reported depression and job satisfaction. Her findings indicate that there is a significant correlation between mental health and job satisfaction, with individuals who reported being “depressed” and “down or blue” being less satisfied with their jobs.  Shirley hopes that when reading her thesis people leave with one major takeaway “mental health matters” and Continue reading Mental Health and Job Satisfaction by Shirley Mazsltov-Ast: Senior thesis highlight

The Economic Benefit of Online Community Marketplaces

The last decade has seen a significant decline of Facebook usage for preference of other sites, particularly from younger generations including individuals like myself. Despite this, I find myself checking and utilizing Facebook on a regular basis for one thing: free-and-discount-goods groups. Notably are regions’ “Buy Nothing” and “Buy, Sell, Trade” groups that promote a decrease of capitalistic purchasing and demanding, in turn decreasing our contributions to the supply chain. For two years now I have been a member of a small group of Tacomans banded in a Facebook group, united by ‘bananas for scale’ and one rule: everything is Continue reading The Economic Benefit of Online Community Marketplaces

Gender-based Price Discrimination

The Pink Tax refers to the extra cost added to goods that are targeted towards women. Named for the color traditionally used to market products to women, the Pink Tax primarily affects personal hygienic products like razors, hair products, and other beauty products. While these products don’t need to be gendered, marketers tend to target these products based on gender and upcharge women for similar or the same products. Brands have also been known to limit the product size for women in a strategy called ‘pink it or shrink it’. When analyzing products such as deodorant, razors, body wash, and Continue reading Gender-based Price Discrimination

The Economics of Reproductive Healthcare

With recent announcements from the Supreme Court surrounding Roe v. Wade, important considerations for the reproductive health and economic welfare of people in the United States is to be considered. During the last four years, personal research has surrounded reproductive health policy and implementation in Washington state, leading me to further understanding of the societal and economic importance of the topic. Whether universal access to safe, legal abortion or other foundational reproductive care, the economic wellbeing through healthcare availability of reproducing individuals in the country reigns… supreme.  Research supports the notion that reproductive healthcare, policies that support it, and access Continue reading The Economics of Reproductive Healthcare

The Hidden Cost of Social Media: Part 2

Click here to read part one Human trafficking is a growing crime that is part of an estimated $150 billion dollar industry. While the victims of human trafficking recruited through social media are only a small portion of the 16,000 estimated human trafficking victims in the U.S. every year, the number of victims recruited through social media is probably much higher than the confirmed cases. This is due to human trafficking victims’ unwillingness to report to authorities. Unfortunately, human traffickers are using social media not only as a recruitment method but also as a way to distribute explicit content from Continue reading The Hidden Cost of Social Media: Part 2