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Category Archives: Financial System

$122 Billion: The Growing, Annual Cost of the Infant-Toddler Child Care Crisis

Report – Strong Nation.org – ReadyNation – Impact on families, businesses, and taxpayers has more than doubled since 2018. $122 Billion: The Growing, Annual Costof the Infant-Toddler Child Care Crisis. “…ReadyNation’s updated study finds that the nation’s infant-toddler child care crisis now costs $122 billion in lost earnings, productivity, and revenue every year. This staggering economic toll impacts working parents, their employers, and the nation’s taxpayers. Our 2018 study found that the crisis was already severely damaging the pre-pandemic economy, exacting a cost of $57 billion annually. A combination of COVID-19 and insufficient policy action have now significantly worsened the crisis. Productivity challenges affect both employers and employees. Almost two- thirds of parents of infants and toddlers facing child care struggles reported being late for work or leaving work early, and more than half reported being distracted at work or missing full days of work. An overwhelming 85 percent of primary caregivers said problems with child care hurt their efforts or time commitment at work. These challenges had predictable impacts: more than one quarter of caregivers said they’ve been reprimanded at work, and nearly one quarter have been fired. As a result, families lose $78 billion per year in forgone earnings and job search expenses. Meanwhile, productivity problems cause employers to lose $23 billion annually due to child care challenges faced by their workforce. Taxpayers, in turn, lose $21 billion each year in lower federal and state/local tax revenue…”

Americans Don’t Understand What Companies Can Do With Their Personal Data

Annenberg School for Communications, University of Pennsylvania: A new survey of 2,000 Americans finds that people don’t understand what marketers are learning about them online and don’t want their data collected, but feel powerless to stop it…In a new report, “Americans Can’t Consent to Companies’ Use of Their Data,” researchers asked a nationally representative group… Continue Reading

New cybersecurity data reveals persistent social engineering vulnerabilities

Tech Republic: “New research from NCC Group and Abnormal Security shows clouds and a bit of silver to line them: Ransomware attacks declined last year, but business email compromises increased — massively for smaller businesses — and a third of toxic emails got through their human gateways. According to risk management firm NCC Group, there… Continue Reading

Study: Over 50% of academics admit to pirating research papers

Fast Company: “Piracy has long been a major problem for big businesses, with Netflix just the latest in a growing list of companies to crack down on password sharing. But as recent research shows, piracy is also a growing issue in the world of academic research. More than 50% of academics have used piracy websites… Continue Reading

Pete Recommends – Weekly highlights on cyber security issues, February 4, 2023

Via LLRX – Pete Recommends – Weekly highlights on cyber security issues, February 4, 2023 – Privacy and cybersecurity issues impact every aspect of our lives – home, work, travel, education, health and medical records – to name but a few. On a weekly basis Pete Weiss highlights articles and information that focus on the… Continue Reading

AI Could ‘Harm the Global Financial System, Supply Chain’ US Gov Guidelines Say

Vice: The new government guidelines present a framework for mitigating AI harms across a wide swath of society. For better or worse, artificial intelligence (AI) tools are permeating all aspects of society, and the U.S. government wants to ensure that it doesn’t break it. AI chatbots like ChatGPT are being used on school assignments, even… Continue Reading

How Twitter Pushed Stakeholders Under The Bus

Bebchuk, Lucian A. and Kastiel, Kobi and Toniolo, Anna, How Twitter Pushed Stakeholders Under The Bus (January 19, 2023). Harvard Law School Program on Corporate Governance Working Paper No. 2023-1, Available at SSRN: https://ssrn.com/abstract=4330393 or http://dx.doi.org/10.2139/ssrn.4330393 “This paper provides a case study of the acquisition of Twitter by Elon Musk. Our analysis indicates that when… Continue Reading

Some Are More Equal Than Others: U.S. Supreme Court Clerkships

George, Tracey E. and Yoon, Albert and Gulati, Mitu, Some Are More Equal Than Others: U.S. Supreme Court Clerkships (January 31, 2023). Virginia Public Law and Legal Theory Research Paper No. 2023-10, Virginia Law and Economics Research Paper No. 2023-03, Available at SSRN: https://ssrn.com/abstract=4338222 – “The most elite and scarce of all U.S. legal credentials… Continue Reading

At the Supreme Court, ethics questions over a spouse’s business ties

The New York Times: “After Chief Justice John Roberts joined the Supreme Court, his wife, Jane Sullivan Roberts, gave up her career as a law firm partner to become a high-end legal recruiter in an effort to alleviate potential conflicts of interest. Jane Roberts later recalled in an interview that her husband’s job made it… Continue Reading

2022 Corruption Perceptions Index reveals scant progress against corruption as world becomes more violent

Berlin, 31 January 2023: “The 2022 Corruption Perceptions Index (CPI) released today by Transparency International shows that most of the world continues to fail to fight corruption: 95 per cent of countries have made little to no progress since 2017. According to the Global Peace Index, the world continues to become a less peaceful place.… Continue Reading

Measuring and Mitigating Racial Disparities in Tax Audits

Stanford Institute for Economic Policy Research: Working Paper, Measuring and Mitigating Racial Disparities in Tax Audits. Hadi Elzayn; Evelyn Smith; Thomas Hertz; Arun Ramesh; Robin Fisher; Daniel E. Ho; Jacob Goldin. Publication “Government agencies around the world use data-driven algorithms to allocate enforcement resources. Even when such algorithms are formally neutral with respect to protected… Continue Reading