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Capitalism is in crisis. To save it, we need to rethink economic growth.

Capitalism is in crisis. To save it, we need to rethink economic growth.

That mindless growth, Hickel and his fellow degrowth believers contend, is very bad both for the planet and for our spiritual well-being. We need, Hickel writes, to develop “new theories of being” and rethink our place in the “living world.” (Hickel goes on about intelligent plants and their ability to communicate, which is both controversial botany and confusing economics.) It’s tempting to dismiss it all as being more about social engineering of our lifestyles than about actual economic reforms. 

Though Hickel, an anthropologist, offers a few suggestions (“cut advertising” and “end planned obsolescence”), there’s little about the practical steps that would make a no-growth economy work. Sorry, but talking about plant intelligence won’t solve our woes; it won’t feed hungry people or create well-paying jobs. 

Still, the degrowth movement does have a point: faced with climate change and the financial struggles of many workers, capitalism isn’t getting it done. 

Slow growth

Even some economists outside the degrowth camp, while not entirely rejecting the importance of growth, are questioning our blind devotion to it. 

One obvious factor shaking their faith is that growth has been lousy for decades. There have been exceptions to this economic sluggishness—the US during the late 1990s and early 2000s and developing countries like China as they raced to catch up. But some scholars, notably Robert Gordon, whose 2016 book The Rise and Fall of American Growth triggered much economic soul-searching, are realizing that slow growth might be the new normal, not some blip, for much of the world. 

Gordon held that growth “ended on October 16, 1973, or thereabouts,” write MIT economists Esther Duflo and Abhijit Banerjee, who won the 2019 Nobel Prize, in Good Economics for Hard Times. Referencing Gordon, they single out the day when the OPEC oil embargo began; GDP growth in

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A Wall Street chief strategist says US lawmakers need a deal on fiscal aid – even a small one will help save consumer spending

A Wall Street chief strategist says US lawmakers need a deal on fiscal aid – even a small one will help save consumer spending

FILE PHOTO: Traders gather at the booth that trades Abbott Laboratories on the floor of the New York Stock Exchange, December 10, 2012.   REUTERS/Brendan McDermid
Traders gather at the booth that trades Abbott Laboratories on the floor of the New York Stock Exchange


  • Crossmark Global Investment’s chief market strategist Victoria Fernandez told CNBC’s “Trading Nation” Tuesday US lawmakers need to decide on a fiscal package, even if it is smaller in size, to save consumer spending.
  • She said consumers have almost spent their consumer checks which is worrisome going into the holiday season. 
  • “Even if it is a smaller number, or a one-time check, it is going to give support to that consumer as we go into the last quarter of the year and that is where you need to start looking at your portfolio to balance that out a little bit,” she said. 
  • She said investors should look at a combination of growth and value stocks, as well as different segments of the financial services sector to weather uncertainty. 
  • Visit Business Insider’s homepage for more stories.

US lawmakers need to decide on a fiscal stimulus package, even if it is a smaller one, to prop up consumer spending, particularly going into the holiday shopping period, Victoria Fernandez, chief market strategist at Crossmark Global Investments told CNBC’s”Trading Nation” Tuesday 

“We really need that consumer to hang in there. For that to happen, we will need to see another round of stimulus, even if it is a smaller deal, or not the $600 we saw before,” she said. “Even if it is a smaller number, or a one-time check, it is going to give support to that consumer as we go into the last quarter of the year and that is where you need to start looking at your portfolio, to balance that out a little bit.”

With around 10 million Americans still out of work, many consumers will have long since spent their

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Can Creative Directors Save A Fashion Brand?

Can Creative Directors Save A Fashion Brand?

For the past couple of years, it is almost as if the fashion industry is playing a game of musical chairs. New creative directors and designers are appointed left and right, and we’re seeing continuous change that can be exhausting to keep up with. In a time where every single fashion brand is feeling the pressures of a saturated market, COVID-19 impacts and the continuous demand from consumers, finding time in the spotlight becomes increasingly hard. In a push to stay relevant, brands are beginning to listen to their audiences. A designer is no longer enough, what is needed now is a personality that can reinvent and resurrect a brand. Enter the Creative Director.

In the past year alone, we’ve seen announcements from some of the industry’s biggest names. 107 ALYX 9SM‘s Matthew Williams gets appointed at Givenchy, Kim Jones is going to Fendi, Raf Simons joins Miuccia Prada at Prada, Kerby Jean-Raymond is going to Reebok and today, Y/Project‘s Glenn Martens is taking over Diesel following Renzo Rosso’s 42-year reign. With every announcement, expectations become higher and consumers are no longer looking for just clothes to buy, they are looking for a designer and public figure to follow.

There’s no doubt that appointing a new creative director can bring a virtually dead brand back to life, just look at Daniel Lee at Bottega Veneta. The designer had previously been working behind-the-scenes at labels like Maison Margiela, Balenciaga and Donna Karan, and held the role as director of ready-to-wear design at Céline under Phoebe Philo. In 2018, Lee got appointed as the creative director of Bottega Veneta, and managed to take the brand from a snooze fest to arguably the most popular brand amongst fashion’s elite in less than a year. His signature dumpling-shaped The Pouch bag was scattered

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Six Ways to Save Money on Car Insurance

Six Ways to Save Money on Car Insurance

Press release content from Accesswire. The AP news staff was not involved in its creation.

LOS ANGELES, CA / ACCESSWIRE / October 10, 2020 / Cheapquotesautoinsurance.com ( https://cheapquotesautoinsurance.com/ ) has released a new blog post that presents six ways in which drivers can save money on car insurance.

For more info and free car insurance quotes online, visit https://cheapquotesautoinsurance.com/6-top-ways-that-will-help-you-pay-less-on-your-car-insurance/.

Obtaining cheaper auto insurance is not impossible. A driver should improve his car’s safety rating, make smart coverage selection, and look for several investment opportunities with the current provider. In order to get the best car insurance prices, follow the next tips:

  • Bundle multiple insurance services. Getting coverage for all household’s cars with the same company is a smart thing to do. Also, try to insure the home with the same company. Multi-car and multi-policies discounts are great ways to save money.
  • Ask for discounts. Car insurance companies offer a wide variety of discounts. Some of their discounts are the homeowner discount, good student discount, getting a married discount, and many other discounts that are available in certain situations.
  • Keep a clean driving record. Safe driver discounts can range from 10 percent to 20 percent. Maintain a clean driving record for a number of years, usually three to five.
  • Consider UBI policies. Some companies offer usage-based programs. Good drivers can benefit of significantly discounted rates. All they have to do is to let the company monitor the client while driving. If the results are satisfactory, the company can customize prices and provide a better deal.
  • Consider raising deductibles. A driver can lower full coverage costs by agreeing to pay a larger deductible. The larger the deductible amount he agrees to pay, the lower his insurance will cost.
  • Shop online for multiple quotes. The best way a
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Could a Hotel Tax Help Save Austin’s Creative Sector? A familiar debate returns under extreme circumstances – News

Could a Hotel Tax Help Save Austin’s Creative Sector? A familiar debate returns under extreme circumstances – News

Could “iconic” venues like Antone’s become tax-funded visitor centers? (Photo by David Brendan Hall)

As City Hall continues to rifle through its coffers looking for any and all revenue that can be used to stabilize the music venues, bars, and restaurants that face imminent closure, a familiar argument has resurfaced: Why not use some of the hotel occupancy tax revenue visitors to Austin pay on their lodging?

Regular readers may be flashing back to last fall, when the same debate gripped City Hall ahead of a vote on the failed Proposition B, which would have derailed the Council-endorsed expansion of the Austin Con­ven­tion Center. The argument put forth now by local attorneys Bill Bunch and Fred Lewis is basically the same as the pitch they made then: Council, guided by legal advice from city attorneys, simply has too narrow a view of the state statutes that regulate how HOT revenue can be used.

“The law is still the same, but the world has changed with the pandemic,” Bunch told us this week. “The viability of expanding the Convention Center is out the window, and the need for spending the money to support cultural tourism and live music is undeniable and urgent.”

Currently, Austin collects 11 cents on each dollar visitors spend on hotel stays. State statutes mandate that revenue be used in ways that specifically promote the tourism, hotel, and convention industries, including limited set-asides to support cultural arts and historic preservation. Here’s how the city currently splits up HOT revenue:

• 4.5 cents goes to the Convention Center Tax Fund, which pays debt service and operating costs of the center, which does not pay for itself through event revenue.

• 2 cents goes to the Venue Project Fund, which pays off debt approved

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