Everyone’s surprised that our hard economic times have actually produced a drop in rates of violent crime. Berkeley professor Neil Gilbert has an explanation — the reinforcement of social norms. [Washington Post]
On the subject of hard economic times, the California State Assembly Committee on Appropriations approved one of two bills comprising the DREAM Act. Should undocumented students receive aid from the state? We welcome your thoughts in the comments below. [Daily Cal]
In better news for Cali, Lawrence Berkeley National Lab has tips on how meet our target of 80 percent reduction to greenhouse gas emissions. Whether we’ll actually do it is, of course, another matter entirely [SolarServer]
And further in the way of Lawrence Berkeley research, here’s a headline we don’t even begin to understand: “Scientists Analyze Substrate Candidates to Preserve the Intrinsic Properties Grapheme [Azom]
Earlier: We Love Technology, Always and Forever
Charles Ferguson is no stranger to the political exposé. His first documentary, “No End in Sight,” garnered numerous accolades and an Oscar nomination in 2008 for its investigative look at the Iraqi war — specifically, at how the Bush Administration had been, and still was, effing things up.
Last night, the Clog fought tooth and nail (or stood in line for about an hour) to attend the PFA’s premier screening of Ferguson’s second and latest documentary: “Inside Job,” which breaks down the 2008 global financial crisis to its bare-boned roots of government corruption and economic fraud, in no uncertain or remotely subdued terms.
The work is, in a word, dramatic. That it opens with read more »
[Disclaimer: contrary to what the title asserts, we don't mean to name-call; we just really like alliteration.]
Remember Christina Romer? Former UC Berkeley professor, she’s been away guiding Obama’s Council of Economic Advisors toward a brighter monetary future for us all.
Said future’s looking pretty grim, though, after the farewell valedictory Romer served up at yesterday’s National Press Club luncheon. On her way out of Washington–she’s coming back to Berkeley, yay!–the chairwoman bestowed upon colleagues and America the overarching wisdom garnered from her labors: read more »
Those of us of the “recession generation” will most likely remember college as a time of budget cuts, walkouts and copious amounts of Top Ramen. And chances are, we won’t be too hasty to invest in the stock market any time soon after graduation, at least according to a recent National Bureau of Economic Research paper.
Ulrike Malmendier of UC Berkeley and Stefan Nagel of Stanford looked at the investment propensity of “Depression babies” and found that they were more than a little hesitant to do their shopping at the stock market. As it turns out, the mental trauma of financial shocks are long-lasting, especially for those who endure them in their formative years (18-25).
According to their research:
… individuals growing up during recessions tend to believe that success in life depends more on luck than on effort, support more government redistribution, but are less confident in public institutions.
So long after the recession has receded, it’ll still leave a bad taste in your mouth (probably the stench of metal left from all that penny pinching).
Will Recession Forever Scar Young Investors? [Wall Street Journal]
Image Source: waɪ.tiː under Creative Commons
Go ahead and buy yourself something pretty; you’re about to save a ton of money some pocket change on campus parking permits. In light of this whole economic buzzkill, UC Berkeley’s Department of Parking and Transportation has graciously decided to throw commuters an (extremely) modest but surely appreciated bone. OK, this may mostly be a move to keep indignant staff members happy, but either way it looks like about 1,000 student commuters will benefit. See if you qualify: read more »
With an increase in UC tuition and a global recession on our hands, it’s probably more important than ever to find a job. Business owners in Berkeley have some encouraging words for you: good luck.
With students cutting back on superfluous spending and employers cutting back on hiring, there’s more competition for the dwindling number of jobs available to students. The unemployment rate in Berkeley has jumped from 7.4 percent last December to 11.9 percent in July, just under the current national average.
And a sad economy equals sad students (which means Le Petit will probably be the only business to see an increase in revenue). On the bright side, not having a job will leave you lots of time to protest the tuition hike by following Mark Yudof around or vandalizing his property or whatnot.
Image Source: extremeezine under Creative Commons
Local Businesses See Decrease in Hiring [Daily Cal]
While the recession continues to rage across the nation and the world – taking down banks, car manufacturers and even a small chunk of Starbucks in its path – Berkeley has maintained a surprising amount of economic stability.
And apparently UC Berkeley and its students are to thank for keeping the whole Berkeley bubble afloat on the raging sea of recession. That’s right, give yourself a pat on the back for splurging at the Asian Ghetto last night.
Students are generally less reliant upon employment income and therefore more insulated from the recession. We even rake in a good $400 million to the Bay Area’s economy each year.
Basically what this all translates into is more reconstruction and renovation. Enjoy the jackhammers, kids.
Image Source: dan taylor under Creative Commons
Local Development Continues to Thrive [Daily Cal]
For all our bitching, it seems that our fair city has kept its economic footing remarkably well throughout this whole recession thing. The Berkeley City Council passed a neat budget this week; no layoffs and about one percent growth. Whether a result of good governance or just another manifestation of our singular un-normalness, we could care less. We’ll take it, and we’re not about to toss out the recession card either, which has nicely excused our financial shortcomings thus far. For the curious, here’s the scoop and a theory or two on our unique little prosperity: read more »
As if finding a job weren’t difficult enough as it is (as we write this from our cardboard platform in People’s Park), hard times have wedged yet another wrench into the employment process. Easy-profit endeavors like selling drugs or scheming may seem like good alternatives these days. On a related note, the UC Berkeley Career Center wants to remind you that scheming is a two-way street, and you don’t want to be on the schemed side. Watch out for fraudulent job postings on their job board; here are a few things to look out for: read more »
Frugality is quite the craze nowadays. In Berkeley, (formerly) middle class citizens are taking cautionary spending to a whole new level, taking a cue from the folks who seem to get by on just about nothing. Berkeley’s homeless shelters and free meal programs have been experiencing a major strain
lately as demand grows at an utterly disconcerting pace. The Clog can only pray that the hipster population doesn’t latch onto these: read more »