Author Archives: Yves Smith

America’s Dire Inequality Demands a New Conceptual Framework. This Economist Has One.

Lance Taylor explains that wage repression — far more than monopoly power, offshoring or technological change — is driving rising inequality.


CalPERS Cooks Its Books: Grossly Understated Investment Consultant Meketa’s Expenses in Annual Financials; Made a Criminal False Account by Burying the Cost

CalPERS violates accounting rules by hiding outside consulting costs in internal investment overheads. None of the possible reasons are good.