Tag: Income disparity

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, […]

Read More

$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 […]

Read More

The Downside of Market-Minded Philanthropy

By David Campbell, Associate Professor of Public Administration, Binghamton University, State University of New York. Originally published at The Conversation Billionaires made some eye-popping donations in 2018. Amazon founder Jeff Bezos announced plans to spend US$2 billion to help the homeless and create a network of free preschools. Media mogul […]

Read More

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 […]

Read More

Here’s What a Real Strike Looks Like: 150 Million Say No to Despotism in India

Yves here. Even though the gilet jaunes are getting a lot of interest due to the vivid images of damage to Paris, other important protests for labor and against inequality are being neglected by the Western media. One is against anti-labor “reforms” in India. By  Vijay Prashad, an Indian historian, […]

Read More

Intergenerational Mobility in the US: One Size Doesn’t Fit All

By Juan C. Palomino, Research Officer, Institute for New Economic Thinking, University of Oxford; Gustavo A. Marrero, Professor of Economics and Director, Research Center of Social Inequality and Governance (CEDESOG), University of La Laguna; and Juan Gabriel Rodríguez, Professor of Economics, Universidad Complutense de Madrid. Originally published at VoxEU The […]

Read More

How the International Monetary Fund Imposes Its Economic Policies on Argentina

By Celina della Croce of the Independent Media Institute. Cross-posted from Alternet. In September, Argentine president Mauricio Macri accepted the 2018 Atlantic Council’s Global Citizen Award. In attendance were many of world’s neoliberal power players and policy makers, among them International Monetary Fund (IMF) Managing Director Christine Lagarde. Facing the […]

Read More

The Decline of African-American and Hispanic Wealth Since the Great Recession

Lambert here: It could be there’s a lesson here about selection criteria for Presidents in “our democracy.” Edward Wolff, Professor of Economics, New York University. Originally published at VoxEU. Unlike income inequality, wealth inequality along racial lines in the US has received relatively little attention. This column presents new evidence […]

Read More

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 […]

Read More

Short-Term Rentals and the Housing Market: Evidence from Airbnb in Los Angeles

Yves here. This is an important analysis. Even though it confirms what would seem intuitively obvious, that Airbnb helps investor/owners and hurts renters, Airbnb boosters have tried arguing that restrictions on short-term rentals would not produce the desired effect. The data from Los Angeles shows the reverse, particularly in tourist […]

Read More

Don Quijones: Retail Melts Down Before Christmas in the UK, Spreads to Continent

By Don Quijones of Spain, the UK, and Mexico, and editor at Wolf Street. Originally published at Wolf Street With just one week left before Christmas, Europe’s fashion retail sector is showing little sign of yuletide cheer. On Monday, the shares of UK-based online fashion and cosmetics retailer Asos Plc plunged […]

Read More

Debate: The ‘Gilets Jaunes’ Movement Is Not a Facebook Revolution

By Jen Schradie, Assistant Professor, Observatoire sociologique du changement, Axa Research Fund Fellow, Sciences Po – USPC. Originally published at The Conversation In less than a month, France’s gilets jaunes (yellow vests) have gone from being a celebrated example of Facebook’s ability to power a spontaneous revolution to a cautionary […]

Read More

What the US Could Learn from Thailand About Health Care Coverage

By Joseph Harris, Assistant Professor of Sociology, Boston University. Originally published at The Conversation The open enrollment period for the Affordable Care Act (ACA) draws to a close on Dec. 15. Yet, recent assaults on the ACA by the Trump administration stand in marked contrast to efforts to expand access […]

Read More

Toxic Philanthropy? The Spirit of Giving While Taking

Yves here. Homer had this figured out long ago: “Beware of Greeks bearing gifts.” But the press has done a great job of presenting squillionaires trying to remake society along their preferred lines as disinterested philanthropy. By Lynn Parramore, Senior Research Analyst, the Institute for New Economic Thinking. Originally published […]

Read More

Yellow Fever in France

By Bernard Dreano, the chair of the Cedetim (Center of international solidarity initiatives and studies) and cofounder of the Helsinki Citizens’ Assembly (Assemblée européenne des citoyens). Originally published at openDemocracy Yellow and Green in climate march. What is this yellow fever that has seized France since mid-November? Wearing these yellow […]

Read More

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 […]

Read More

Michael Olenick: A Quick Look at the Gilets Jaunes Protests

Yves here. Some additional overview material on France’s gilets jaune protests: 1. They have overwhelming public support. 2. Even though the flashpoint was taxes and inspections designed to cut greenhouse gasses, the grievances are about austerity and cut in services. Recall that Macron ended the wealth tax when he took […]

Read More

Corbyn Isn’t Seizing the Moment – Because His Labour Party Simply Isn’t Radical Enough

Yves here. It’s been puzzling to see Labour fail to take advantage of Theresa May’s inept leadership, particularly the wide-spread loathing for her Brexit deal. This piece argues that Labour’s passivity reflects deeper-seated shortcomings. By Gerry Hassan, a writer, commentator and academic on Scottish and UK politics, power, democracy and […]

Read More