Tag: Economic fundamentals

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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Thoughts on Warren and Sanders: How Much Change Is Needed in 2021?

Yves here. I know Warren is deemed to be progressive by American standards, but I recall clearly when I first say her speak at a Roosevelt Institute conference, Let Markets Be Markets, which was a title I found to be unhelpful, since it suggested that markets would exist in a […]

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Stumped by the Stock Market Slump? Start by Picturing a Used Car Dealership

Lambert here: Even I know what a lemon market is! By Steven Pressman, Professor of Economics, Colorado State University. Originally published at Alternet. Stocks have been slumping on a variety of concerns, from President Donald Trump’s ongoing trade war with China to worries about an economic slowdown and rising interest […]

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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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Why It’s So Hard for Most Countries to be Economically Independent from the West

By Justin Podur, a Toronto-based writer who teaches at York University in the Faculty of Environmental Studies. His site is podur.org. Follow him on Twitter: @justinpodur. Produced by by Globetrotter, a project of the Independent Media Institute. Why is it so difficult even for huge countries with large, diversified economies […]

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Wolf Richter: “Severe Collapse” of Home Prices Might Trigger a “Financial-Institution Crisis” in Australia: OECD Frets about the Banks

Yves here. When I lived in Sydney, in a very nice but not the most tony part of town (Potts Point), housing prices already seemed nuts. I benefitted from the dollar being super strong, but in purchasing power party terms, $A1=$1. A $300 cart of groceries in both countries would […]

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France’s Macron Makes Concessions While ‘Yellow Vest’ Protests Continue

Yves here. This Real News Network segment gives some broader context for the gilets jaunes movement. Note that in an address on Monday, Macron apologized and gave some economic concessions, like raising the minimum wage by 100 euros a month and ending taxes on overtime work, but did not reinstate […]

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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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G20: You Can Smell Tear Gas in the Streets as the Oil Industry Squabbles

Yves here. While this piece gives a good summary of the underlying dynamics behind some of the big economic conflicts, it’s less precise on the state of play at some points than I’d like. This section from a new story in DW, China vows quick trade deal as Trump sends […]

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American Life Expectancy Continues to Fall: Rise in Suicides, Overdose Deaths the Big Culprit

The evidence of social decay in America is becoming more visible. As other countries continue to show increases in life expectancy, the US continues its deterioration. Life expectancy in the US fell to 78.6 years in 2017, a o.1 year fall from 2016 and a 0.3 year decline from the […]

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White House Doubles Down On Coal Despite New Climate Report

By Tim Daiss, an oil markets analyst, journalist and author working out of the Asia-Pacific region for 12 years. Originally published at OilPrice President Trump has spent much of the first two years of his presidency at odds with environmentalists over numerous issues, but now that disagreement also includes the […]

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Michael Hudson: “Moral Hazard” vs Mutual Aid – How the Bronze Age Saved itself from debt serfdom

By Michael Hudson, a research professor of Economics at University of Missouri, Kansas City, and a research associate at the Levy Economics Institute of Bard College. His latest book is “and forgive them their debts”: Lending, Foreclosure and Redemption from Bronze Age Finance to the Jubilee Year  Jointly posted with Hudson’s […]

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An MMT View of “Twin Deficits”: Budget and Current Account Deficits

Originally published at New Economic Perspectives Invited Presentation by L. Randall Wray at the UBS European Conference, London, Tuesday 13 November 2018 Q: These questions about deficits are usually cast as problems to be solved. You come from a different way of framing the issue, often referred to as MMT, […]

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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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High Stakes, Entrenched Interests And The Trump Rollback Of Environmental Regulations

By Julie Appleby, Senior Correspondent at Kaiser Health News. Before joining KHN, Julie spent 10 years covering the health industry and policy at USA TODAY. She also worked at the San Francisco Chronicle, The Financial Times in London and the Contra Costa Times in Walnut Creek, California. She serves on […]

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Apple’s “Capital Return Program”: Rewarding the Wrong People

By William Lazonick, Professor of Economics, University of Massachusetts Lowell. Originally published at the Institute for New Economic Thinking website The enormous revenues and profits flowing from Apple’s innovative products, the iPhone in particular, get primary credit for enabling the company to be the first in history to reach a […]

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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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AOC Rental Woes a Reminder of Worsening Conditions for Workers

The media coverage of the fact that Alexandria Ocascio-Cortez can’t yet move to Washington because she can’t afford to rent an apartment is another Versailles circa 1788 moments. Washington has so long been expensive that even before working-class AOC stormed the barricades there have long been stories of Congresscritters who […]

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Cryptocurrencies: Financial (In)stability and (Un)fairness

By Jon Danielsson, Director of the ESRC funded Systemic Risk Centre, London School of Economics. Originally published at VoxEU Cryptocurrencies are controversial.  Advocates see them as a better form of money that imparts freedom, useful economic functions, fabulous riches and hedges against bad government policies. The sceptics worry about investor protection […]

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