Author Archives: Yves Smith

How Market Competition Really Works

One of the best models of competitive markets in an economy is an evolutionary one.

Global Value Chains, Trade Shocks and Jobs: An Application to Brexit

A conservative analysis, incorporating the impact on value chains, estimates the UK will face a 4.7% GDP fall in a hard Brexit scenario.

Science Suggests We’re Making Fish Homicidal Through Antidepressants We Flush Into the Water

First a lobster with a Pepsi tattoo, now fish made mad by meds in the water.

Links 11/30/17

Exploiting the Elderly: Crapification and Long-Term Care Insurance, Genworth as Case Study

Genworth’s flagging long-term insurance business as a window into the challenges facing even the high-functioning elderly.

New Paper Debunks Desperate Rationalization for Private Equity: Lower Volatility Based on Bogus Valuations

A new paper by Jeff Hooke and Ken Yook of John Hopkins argues that “smoothed,” as in phony, private equity valuations are misleading.

The Web Began Dying in 2014 – Here’s How

The Internet has changed considerably since 2014, and not in a good way.

The Republican Tax Plan

Economists discuss the Republican tax proposals and for the most part, find a lot not to like.

Judge Slams Uber for Withholding, Possibly Destroying Evidence in Waymo Trial; May Undermine Uber in Other Litigation

Uber is in serious hot water in the Waymo trial. If Uber did try pulling a fast one on the court, the blowback could extend to other cases.

The Cash Comeback: Evidence and Possible Explanations

Contrary to technologist hype, demand for cash across advanced economies has been rising.

Theresa May Capitulates on Brexit Settlement, Agrees to Pay Full Liabilities; What Will Brexit Ultras Do?

The UK finally concedes to reality on one issue. But will it make enough progress on other matters to get EU approval to talk trade?

Links 11/25/17

Don Quijones: Could Italy’s Banking Crisis Drag Down Mario Draghi?

Mario Draghi was governor of Italy’s central bank from 2005 to 2011, overseeing the now very sick banking system. Will his past haunt him?