Author Archives: Yves Smith
Economic Consequences of the U.S. Convict Labor System
US counties with convict labor often have lower wage and employment growth
Read more...Charter School Cap Efforts Gain Momentum
Evidence increasingly shows that charter schools damage public schools, fueling campaigns to stop charter school growth.
Read more...Links 3/8/19
CalPERS/Investor Alert: Award Winning Study Debunks “Warren Buffett” Fund Strategy; Buffett Does Better in Stocks Than Private Companies
Warren Bufett’s own experience calls “Warren Buffet funds” into question.
Read more...Can the US Treasury Run Out of Money When the US Government Can’t?
Debunking some arguments against MMT by explaining why the US Treasury can’t run out of money.
Read more...The Doomsday Economics of ‘Proof-of-Work’ in Cryptocurrencies
Why inherent problems with cryptocurrency liquidity are already leading to consideration of other methods for validating blockchain updates. They are likely to prove unsatisfactory and therefore call for verification by a trusted institution….defeating the rationale for cryptocurrencies.
Read more...The Incoherence of Larry Summers, a Serious Economist
Larry Summers as a negative indicator.
Read more...Links 3/7/19
2018: A Banner Year for China, Other US Trade Partners, and Corporate America
China wins big in trade in 2018.
Read more...Is a Harvard MBA Bad for You?
Why an MBA is not what it is cracked up to be.
Read more...Cities And Counties Unlikely To Heed FDA Warning On Importing Foreign Drugs
The FDA goes to bat for the right of drugs makers to price gouge Americans.
Read more...#MeToo Whistleblowing Is Upending Century-Old Legal Precedent Demanding Loyalty to the Boss
Why whistleblowing is a recent development.
Read more...Links 3/6/19
Brexit: Slouching Towards Bethlehem
No one knows what is set to happen on Brexit day.
Read more...