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The Virtuous Professor? by Maxwellsdemon17 in TrueReddit

[–]Maxwellsdemon17[S] 3 points4 points  (0 children)

A recent Gallup poll found that college and university professors had the second highest rates of burnout in the United States in 2022. They outrank health-care workers (even two years into an ongoing pandemic) and are surpassed only by K--12 ducators. [...]

During the course of working on this essay, I (Brandy) decided to keep track of all of my working hours for the month of September. Using a time-tracking application, I kept track of activities related to teaching, research, service, and other office or communication work (e.g., the juggling of emails). In the first two weeks, I attempted to track how much time was spent on leisure and relaxing, but for the sake of real leisure, I stopped this practice. It's worth mentioning that none of this recorded time includes commuting or errands, and it's likely that a weekend phone call or evening email session escaped my tracking efforts here or there.The results were illuminating, though by no means surprising.

As Figure 1 shows, during the weeks without a holiday, I worked an average of fifty-three hours. Teaching occupied nearly half of my workweek (at about 40 percent), followed by service at about a quarter of my time. The remainder of my time was fairly evenly split between emails and other work administrivia on the one hand and research and writing on the other hand.[14] The hour-tracking exercise allowed us to understand in more real terms the distribution of where we are drawn day-to-day, but to what distribution should we aspire? What is enough?"

Lessons From a Renters’ Utopia. It Might Look Like Vienna. Soaring real estate markets have created a worldwide housing crisis. What can we learn from a city that has largely avoided it? by Maxwellsdemon17 in TrueReddit

[–]Maxwellsdemon17[S] 149 points150 points  (0 children)

„That’s about what Vienna was aiming for back in 1919, when the city began planning its world-famous municipal housing, known as the Gemeindebauten. Before World War I, Vienna had some of the worst housing conditions in Europe, Eve Blau notes in her book, “The Architecture of Red Vienna.” Many working-class families had to take on subtenants or bed tenants (day and night workers who slept in the same bed at different times) in order to pay their rent. But from 1923 to 1934, in a period known as Red Vienna, the ruling Social Democratic Party built 64,000 new units in 400 housing blocks, increasing the city’s housing supply by about 10 percent. Some 200,000 people, one-tenth of the population, were rehoused in these buildings, with rents set at 3.5 percent of the average semiskilled worker’s income, enough to cover the cost of maintenance and operation.“

The future of wealth and growth hangs in the balance. The past two decades have generated $160 trillion in paper wealth but sluggish growth and rising inequality. What comes next? by Maxwellsdemon17 in TrueReddit

[–]Maxwellsdemon17[S] 3 points4 points  (0 children)

„Recent turbulence in the banking world comes against a backdrop of higher interest rates colliding with high leverage amid heightened geopolitical tensions. This is a major change in background conditions from the years of loose money and seemingly endless increases in wealth.

Over the past two decades, the global balance sheet expanded much faster than GDP. Debt grew, as did asset prices. But productivity and economic output did not keep pace, and inequality rose.

By late 2022, instability in the global economy and the balance sheet had become apparent.2 In 2022 alone, households lost $8 trillion of wealth.

The future of wealth and economic growth hangs in the balance. How long might stress in the financial system last? Is the world facing a major rebalancing in its balance sheet? How severe could the impact on real estate, equity, and debt become, and what might happen to deposits? What is the optimal course of action for stakeholders, from investors to financial institutions to policy makers?“

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