Category Archives: The destruction of the middle class

Jobless Recoveries: Exploring Technology’s Role

Recoveries from recessions in the US used to involve rapid job generation, but job growth has failed to match GDP recovery after recent US recessions. This column examines the role of technology in this and asks whether jobless recoveries are a wider problem outside of the US. In the US, industries that are more prone to technological change experienced slower job growth during recent recoveries, but it appears unlikely that modern technologies are causing jobless recoveries outside of the US. This poses a puzzle as to the nature of recent jobless US recoveries.


UK’s Brexit Derangement Becomes More Visible as May Puts Foot in Mouth and Chews

As short seller David Einhorn has said, “No matter how bad you think it is, it’s worse.” I thought I was at risk of being unduly dire in my early readings on Brexit, which was that the two sides have a large gap between their positions and have been talking past each other. Early on, […]