February 5, 2021

Posted by orrinj at 8:15 AM


Posted by orrinj at 8:09 AM


Denmark to build 'first energy island' in North Sea (BBC, 2/05/21)

A project to build a giant island providing enough energy for three million households has been given the green light by Denmark's politicians.

The world's first energy island will be as big as 18 football pitches (120,000sq m), but there are hopes to make it three times that size.

It will serve as a hub for 200 giant offshore wind turbines.

It is the biggest construction project in Danish history, costing an estimated 210bn kroner (£24bn; €28bn: $34bn).

Situated 80km (50 miles) out to sea, the artificial island would be at least half-owned by the state but partly by the private sector.

It will not just supply electricity for Danes but for other, neighbouring countries' electricity grids too. 

Posted by orrinj at 7:55 AM


Posted by orrinj at 7:44 AM


One solution to pandemic unemployment? Working less (Samanth Subramanian, 2/05/21, Quartz)

Economists and activists had already been pushing for a shorter work week in Europe even before the coronavirus hit, but the pandemic's effects make the idea even more worthwhile, said Aidan Harper, a member of the 4 Day Week Campaign in the UK. "The idea is that you reduce the working week to distribute work more fairly across the economy, and so reduce unemployment," he says. "People staying in work and having money in their pockets--that's essential for an economic recovery. They spend locally, they employ more people, the money circulates. It's essential that people spend during a downturn."

Last August, the think tank Autonomy published research showing that, if the public sector switched to a 32-hour week, it would create between 300,000 and 500,000 new full-time jobs, at a maximum cost of £9 billion--6% of the current spend on public sector wages.

For a brief period, it looked as if the UK might move in the opposite direction. In mid-January, the government prepared to review its adherence to the European Union's Working Time Directive--which the UK is no longer compelled to follow, post-Brexit. The directive gives people the right to work no more than 48 hours a week, although people who have second jobs or take on unpaid work frequently overshoot that limit. After opposition from the leftwing Labour Party and unions, Kwasi Kwarteng, the business secretary, said last week that the review wouldn't take place: "We will not row back on the 48-hour weekly working limit."

Activists like Harper offer plenty of proof that people are as productive--if not more--in shorter working weeks as in full-length ones.

In an 8-Hour Day, the Average Worker Is Productive for This Many Hours (MELANIE CURTIN, Inc.)

Research suggests that in an eight-hour day, the average worker is only productive for two hours and 53 minutes.

That's right--you're probably only productive for around three hours a day.

According to the Bureau of Labor Statistics, the average American works 8.8 hours every day. Yet a study of nearly 2,000 full-time office workers revealed that most people aren't working for most of the time they're at work.

Posted by orrinj at 7:14 AM


GameStop's meteoric gains have almost entirely disappeared -- here's advice for those who didn't get out in time (Steve Goldstein, 2/05/21, Market Watch)

The author of the Cracked Market blog, Jani Ziedins, last week warned the traders piling into the videogames retailer GameStop not to get greedy -- or more specifically, not to be a pig. [...]

Here's Ziedins' advice now. "For those that still have money left in the market, there is no reason to ride this all the way into the dirt. Cash in what you have left, learn from this lesson, and come back to the market better prepared next time," says the Cracked Market blogger.

Dump your Bitcoin too.