Suchergebnisse

In another round of the case "Metall auf Metall", the German Federal Court of Justice is asking the Court of Justice of the European Union how to define the concept of pastiche. The CJEU response will not only be crucial for the rules of artistic imitation, but also set the legal frame for the digital reference culture of millions, as expressed in Memes and GIFs every day. This Article takes the referral to the CJEU as an opportunity to recapitulate the proceedings with a sideways glance at the Supreme Court's Warhol case. Its discussion of transformative use addresses the questions the CJEU will have to answer when defining "pastiche". How should we deal with the art of imitation?

Since the war began, the street art capital of Russia status of Yekaterinburg has come into question: some artists have left Russia, while others have been imprisoned for their anti-war works

Leider nur noch bis Jahresende ist die sehenswerte Reportage "Hallo, Diktator" - Orbán, die EU und die Rechtsstaatlichkeit" in der Arte-Mediathek verfügbar. Vielleicht ergibt es sich zwischen den Jahren...

Mittlerweile ist gut untersucht, wie (im wesentlichen) die großen Mineralölkonzerne über Jahrzehnte Maßnahmen gegen den Klimawandel hintertrieben haben. Auf Arte gibt es hierzu einen sehenswerten 2-teiligen Dokumentarfilm, der noch bis Anfang Februar 2024 in der Mediathek abrufbar ist: "Klima - Im Würgegriff der Ölkonzerne". Die Beschreibung auf der Website lautet:"Die zweiteilige Doku zeigt, wie Ölkonzerne und ihre Verbündeten in der Politik jahrzehntelang Zweifel an der Ursache des Klimawandels schürten und notwendige Gegenmaßnahmen behinderten. Sie fragt nach den Gründen für die lange Untätigkeit angesichts der wachsenden Bedrohung und nach der Verantwortung der mächtigen Ölkonzerne, insbesondere der von ExxonMobil."

Über das Organisationsversagen der documenta fifteen

What counts as an "artistic work" for purposes of special protection under the Texas anti-SLAPP statute?

"The market process allows low-skill people to specialize in what they do best while freeing up high-skill people who can concentrate their efforts on things they do best. Everybody wins, and in some small way, you have a part in every achievement by every bleary-eyed customer for whom you dutifully pour coffee on their morning commute." ~ Art Carden

"If you agree that local politics should be about protecting others' liberty to become the people they want to become rather than giving you the tools to turn them into the people you want them to become, what should your city do?" ~ Art Carden

"What I think is most striking about Walmart – and what I would hope Joan of Arc, Genghis Khan, Socrates, and others would notice – is that the floor-to-ceiling cornucopia is not restricted to the elites." ~ Art Carden

Ich selber kann an einen guten Gott nicht glauben. So einer hat mich als Kind leider überhaupt nicht beschützt. Dennoch habe ich immer noch so viele Kirchenlieder  – ihre schönen Melodien und andachtsvollen Texte – aus jener kindlichen Zeit im Kopf, ja in mehreren Strophen beeindruckend abrufbar. Und immer, wenn es damals im Gottesdienst und...
The post Alexej Nawalny – eine Art neuer Jesus? first appeared on Blog der Republik.

Aus der Mangelwirtschaft: Der Kindernotdienst versinkt in der Not und dem Rettungsdienst geht die Puste aus» mehr

As we head into the second half of the year, the swift recovery many were hoping for is facing an uncertain future. The resurgence of the COVID-19 virus and concerns about dwindling fiscal support have many worried. I submit that even in the absence of these worries, the recovery would still be on shaky grounds without the Fed explicitly committing to 'make-up' policy. Make-up policy is an explicit framework that allows the Fed to correct for past misses in its target. In the case of a recession, this feature allows the FOMC to be fine with inflation temporarily overshooting its target while the economy bounces back. Tolerating this overshoot implies a similar surge in nominal income that would restore it to the levels expected by household and business prior to the crisis. This restoration is important since many fixed-price nominal financial obligations like mortgages, loans, and leases were made based on these forecasts of nominal income.  Without make-up policy, the Fed may feel uncomfortable with inflation temporarily overshooting and prematurely tighten monetary policy. This would prevent nominal income from returning to its pre-crisis trend levels and trigger secondary spillover effects like mass insolvencies and other financial stress. Chris Condon notes that the Fed is aware of this issue and has been discussing it at the FOMC meetings this year.  For all this talk, though, members of the FOMC have given no indication in the Summary of Economic Projections (SEP) that they are taking make-up policy seriously. The SEP indicates persistent undershooting of its inflation target and consequently, a lack of make-up policy in its implicit nominal income forecasts. Nominal income or NGDP can be constructed from Table 1 in the SEP by combining the real GDP growth forecasts with the PCE inflation forecast plus 20 basis points (to make it GDP Deflator equivalent). This is done in a revised version of Table 1 below:The second-to-the-last row of the table is titled "NGDP Change - 4.0" and is the forecasted NGDP growth rate minus the pre-crisis trend of 4 percent growth. The final row accumulates up these misses and reveals NGDP is still 5.3 percent below its per-crisis path even after 2022. Put differently, there is a permanent loss in nominal income according to the SEP. These forecasts are applied to the current NGDP levels to create a forecast in dollar level form and are presented in the figure below. The sustained drop in nominal income can be seen as the difference between the pre-crisis trend and the forecasted level of NGDP:Note, that this forecasted loss is based on FOMC members assessing what is "appropriate monetary policy" for the SEP. The FOMC, in short, currently does not see make-up policy in the cards nor does it see it as appropriate monetary policy. Similar implications fall out of other Federal Reserve forecasts, including this one from the New York Fed. But it not just the Fed who thinks there will be no make-up policy and therefore a sustained loss in nominal income. First, the CBO's July update  shows a persistent gap between nominal income and its pre-crisis trend over the next decade. This forecast is conditioned on, among other things, what the CBO sees as likely monetary policy going forward.  Second, the Blue Chip consensus forecasts of NGDP also shows a sustained drop in nominal income. The graph below shows this drop and compares it to the neutral level of NGDP, the level of nominal income needed to meet the expectations of households and businesses plans in years leading up to the crisis. The forecasted gap between these two measures is called the NGDP Gap. So wherever one looks, make-up policy is not being forecasted. Its absence does not bode well for the recovery and underscores the urgency of the FOMC review of its framework. I really dread repeating the slow recovery of the last decade. So please FOMC, bring this review to a vote and give make-up policy a chance during this crisis. Update: A reader informed me that adding 20 bps to the PCE inflation to make it equivalent to GDP deflator inflation may overstate the difference. If so, the analysis above actually understates the permanent loss in nominal income projected by the FOMC's SEP.

by Felix Schaumann How do we think about climate futures ahead of us? Different actors tend to use different tools for that. The stream of weather catastrophes in the news media suggests a rather gloomy future. Some recent novels try to paint a more optimistic picture of the decades ahead (see our post on this). […]

In a Georgetown study, researchers collected the 10-year net present value (NPV) of a degree from each of 210 liberal arts colleges. While the median 10-year NPV of a liberal arts degree ($54,400) is significantly lower than that of an engineering degree ($72,200), there are many liberal arts colleges with high NPV, such as Claremont […]
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