Category Archives: Free markets and their discontents

The Persecution and Assassination of the People of Greece as Performed by the Inmates of the Troika, Under the Direction of the Eurogroup

A new paper shreds the myths that justified the misguided application of austerity and wage-rate reduction policies in Greece and the Eurozone.

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Insurance in Extended Families

Yves here. Color me appalled by the premise of this post. It starts from the assumption that social safety nets are bad because they crowd out “informal institutions” namely family, as the insurer of the last resort. Note it may be unfair to single out this post, since the authors are addressing an apparently conventional […]

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Media Consolidation Thwarted Again as Comcast Backs Off Time Warner Deal

Late Thursday, Comcast apparently signaled that they would abort a 14-month bid to purchase Time Warner Cable, in a deal that would have created the nation’s largest cable operator by a wide margin. The FCC was going to recommend a hearing, which is a prelude to cancellation. The spin is that there are more consolidation attempts on the way, but there’s no guarantee that they would be successful either.

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The Continuing Depopulation of Detroit

Detroit is getting the same treatment as Latvia and Ireland, and we are already seeing similar results in Greece, with most people who have good foreign job prospects taking a hike. But while Latvia and Ireland stabilized at much lower levels of output and have started to recover from their, Detroit, like Greece, looks like a failed state. And this is perversely seen as acceptable in America.

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