Tag: The destruction of the middle class

BlackRock CEO Larry Fink Tells Corporate CEOs to Engage in Better Eyewash

One of the sorry spectacles of modern life is having prominent individuals who profit from and serve as prime exemplars of major social ills trying to depict themselves as part of the solution, when they haven’t gone through any sort of Damascene conversion o give their virtue-signalling even a thin […]

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How Teacher Strikes Are Exposing the Corrupt Charter School Agenda

By Jeff Bryant, a writing fellow and chief correspondent for Our Schools, a project of the Independent Media Institute. He is a communications consultant, freelance writer, advocacy journalist, and director of the Education Opportunity Network, a strategy and messaging center for progressive education policy. His award-winning commentary and reporting routinely […]

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France’s Great Debate

Yves here. Wowsers, does Macron not know basic French history? The last time a ruler asked la toute France for its opinion about the problems of the day, the situation developed not necessarily to his advantage. From Wikipedia: The Cahiers de doléances (or simply Cahiers as they were often known) […]

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Ray Dalio: Capitalism Isn’t Working

By Chris Becker. Originally published at MacroBusiness It’s always interesting to hear mega-capitalists complain about the very system that provides them opportunity to turn their talents into Scrooge McDuck size piles of cash. Furthermore, it’s usually the most successful that have the most liberal of views and Ray Dalio, head of […]

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GoFundMe CEO: ‘Gigantic Gaps’ In Health System Showing Up In Crowdfunding

By Rachel Bluth, Reporter for Kaiser Health News and Peggy Girshman Fellow. She was previously the lead political correspondent for the Annapolis Bureau of Capital News Service and has also written for the Maryland Reporter and the Prince George’s Sentinel. Originally published at Kaiser Health News Scrolling through the GoFundMe […]

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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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The Shutdown Will Harm the Health and Safety of Americans, Even After It’s Long Ove

By Morten Wendelbo, Research Fellow, American University School of Public Affairs. Originally published at The Conversation With the U.S. federal government shutdown now the longest in history, it’s important to understand what a shutdown means for the health and safety of Americans. The good news is that in the short […]

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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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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 […]

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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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Journey into a Libertarian Future: Response to Reader Comments

This post was first published on December 12, 2011 By Andrew Dittmer, who recently finished his PhD in mathematics at Harvard and is currently continuing work on his thesis topic. He also taught mathematics at a local elementary school. Andrew enjoys explaining the recent history of the financial sector to a popular audience. […]

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Journey into a Libertarian Future: Part VI – Certainty

This post was first published on December 6, 2018 By Andrew Dittmer, who recently finished his PhD in mathematics at Harvard and is currently continuing work on his thesis topic. He also taught mathematics at a local elementary school. Andrew enjoys explaining the recent history of the financial sector to a popular audience. […]

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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 […]

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Journey into a Libertarian Future: Part V – Dark Realities

This post was first published on December 5, 2011 By Andrew Dittmer, who recently finished his PhD in mathematics at Harvard and is currently continuing work on his thesis topic. He also taught mathematics at a local elementary school. Andrew enjoys explaining the recent history of the financial sector to a popular audience. […]

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Journey into a Libertarian Future: Part IV – The Journey into a Libertarian Past

This post was first published on December 2, 2011 By Andrew Dittmer, who recently finished his PhD in mathematics at Harvard and is currently continuing work on his thesis topic. He also taught mathematics at a local elementary school. Andrew enjoys explaining the recent history of the financial sector to a popular audience. […]

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Journey into a Libertarian Future: Part III – Regulation

Lambert here: Andrew’s dead-pan voice and genre-bending technique seem to perplexed some readers. “Journey into a Libertarian Future” is not a genuine interview, although it is cast in the form of an interview. The interviewee, “Code Name Cain,” is fictional, but also a proxy for the libertarian thought leader, Hans […]

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Neoliberalism as Structure and Ideology

Yves here. While Dorman offers an interesting theory as to how neoliberalism gained traction, I don’t see it as explaining as much as Dorman thinks it does. His discussion does not acknowledge that a well-funded effort to turn the country right was underway well before the severe recession of the […]

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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 […]

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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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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 […]

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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 […]

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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 […]

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