Tag: Dubious statistics

What Truck Drivers Say about “Driver Shortage” & Pay Increases

Yves here. Of course, one then wonders how many of the other worker shortage stories are exaggerated. And remember that profits have been at record levels as a percentage of GDP, so the idea that most companies can’t pay more is spurious. By Wolf Richter, a San Francisco based executive, […]

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$15 Minimum Wage: Job Killer or Path Out of Poverty?

This Real News Network segment sets forth the most common arguments against increasing the minimum wage to $15 an hour, or alternatively, a living wage level, and shows why they don’t hold up to scrutiny. A decent minimum wage is even more important when the supposedly robust US economy is […]

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Michael Hudson: The Vocabulary of Economic Deception

Originally published at Michael Hudson’s website This is Guns and Butter, October 8, 2018. The aim of classical economics was to tax unearned income, not wages and profits. The tax burden was to fall on the landlord class first and foremost, then on monopolists and bankers. The result was to […]

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The UK’s Reform of Limited Partnership Law: Dead on Arrival (II)

British company structures which hide the identity of those behind them were branded a disgrace by the whistleblower who brought to light an alleged 200 billion euro (178 billion pounds) money laundering scandal involving Danske Bank (DANSKE.CO). “The role of the United Kingdom is an absolute disgrace. Limited liability partnerships […]

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The UK’s Reform of Limited Partnership Law: Dead on Arrival (I)

“Scottish Limited Partnerships are used by thousands of legitimate British businesses – from pension schemes to owning farm land in Scotland – to invest more than £30 billion in the UK a year. We have seen mounting evidence that in their current form they are vulnerable to abuse. Last year […]

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The Inconvenient Truth about Climate Change and the Economy

By Gregor Semieniuk, Lecturer in Economics, SOAS, University of London and Associate Research Faculty, Science Policy Unit (SPRU), University of Sussex; Lance Taylor, Arnhold Professor of International Cooperation and Development, New School for Social Research; and Armon Rezai, Assistant Professor, Environmental Economics, Vienna University of Economics and Business. Originally published […]

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Is This Time Different? Examining Recent Emerging-Market Turbulence

By Dr. Marek Dabrowski, a Non-Resident Scholar at Bruegel, Professor at the Higher School of Economics in Moscow, co-founder and Fellow at CASE – Center for Social and Economic Research in Warsaw and Member of the Scientific Council of the E.T. Gaidar Institute for Economic Policy in Moscow. Originally published […]

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Trump and the Midterms: Is It Not The Economy, Stupid?

By Barkley Rosser, Professor of Economics at James Madison University in Harrisonburg, Virginia. Originally published at EconoSpeak On many Mondays I indulge in taking Robert J. Samuelson to task after his regular Washington Post column of the day.  Today he was almost right, or if you prefer, even mostly right.  […]

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Former Health Insurance Executive Debunks Trump Attacks on Single Payer

Yves here. This Real News Network interview with former Cigna executive Wendell Potter, who among other things now heads Tarbell.org, a site that investigates money in politics, provided a point-by-point takedown of the factually-challenged criticisms Trump has made of single payer. The fact that this rebuttal comes from a former […]

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The World Is Hot, on Fire, and Flooding. Climate Change is Here.

Yves here. I am convinced that one of the reasons climate change isn’t getting the media attention it warrants in the US is that the Northeast is one of the few areas to have gotten generally more moderate weather. In New York City, summers are on average less hot, with markedly fewer above 90 degree […]

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Economy of Intangibles

By Silvia Merler, an Affiliate Fellow at Bruegel and previously an Economic Analyst in DG Economic and Financial Affairs of the European Commission. Originally published at Bruegel Economists have been discussing the implications of the rise of the intangible economy in relation to the secular stagnation hypothesis, and looking more generally into the policy implications […]

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Reproducibility Crisis Reaches All Randomised Controlled Trials

By Alexander Krauss, Post-Doctoral Research Fellow, London School of Economics. Originally published at the Institute for New Economic Thinking website Randomised controlled trials (RCTs) are generally viewed as the foundational experimental method of the social and medical sciences. Economists depend on them, for certain questions, as their most valued method. Yet RCTs are not flawless. […]

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Richard Murphy: Ignore the Gini Coefficient – Real Inequality Is Growing and People Are Suffering as a Result

Yves here. Murphy is not exaggerating when he discusses how much wealth the rich hide. Gabriel Zucman, in this book The Hidden Wealth of Nations, conservatively estimated that tax evasion by households amounts to about 8% of global wealth. By Richard Murphy, a chartered accountant and a political economist. He has been described by the Guardian […]

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Interview: Teaching Graham Elwood Modern Money, and How the Progressive Media Gets It Wrong

By Naked Capitalism reader aliteralmind, aka Jeff Epstein, an independent and progressive journalist and podcaster with Citizens’ Media TV. Jeff ran on the ballot with Bernie Sanders during the 2016 Democratic primary, at the request of the Sanders campaign. He was a pledged delegate for Sanders at the DNC, and one of only 60 finalists […]

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Taxcast: How Accountants Broke Capitalism

Originally published at the Tax Justice Network We’ve had leak after leak, whistleblower after whistleblower. But no matter what the scandal is, when it comes to financial secrecy and tax dodging, the so-called big four accountancy firms are key players. We interview investigative journalist and former tax inspector Richard Brooks of the Private Eye on […]

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Naked Capitalism Readers Issue Scam Alert For Amazon’s “Become Our Freight Shipper” Scheme

I must confess that I hadn’t had a chance to look at how Amazon was planning to go into the freight business in competition with Fedex and UPS. I was stunned to see that Amazon plans to prey on people who by all accounts are less desperate than the ones who wind up being warehouse […]

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Richard Murphy: The Debate on the Proper Role of the Bank of England, Continued

Yves here. One reason for featuring this post was that the discussion of the role of the Bank of England also has implications for the role of the Fed and other central banks. Murphy’s post takes on the claim of central bank independence. That is code for “the management of a country’s finances must be […]

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Bill Black: Bitcoin Frauds Keep Growing

By William K. Black, Associate Professor of Economics and Law at the University of Missouri-Kansas City and author of The Best Way to Rob a Bank is to Own One. Originally published at New Economic Perspectives One of the prime myths that white-collar criminologists have to refute repeatedly is that blockchain makes fraud impossible.  Blockchain, […]

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