How Pursuing “Competitiveness” Crushes Labor and Lowers Growth
Why pursuing national “competitiveness,” as in squeezing labor pay and rights, does not produce the promised benefit of more growth.
Read more...Author Archives: Yves Smith
Links 11/10/15
Wolf Richter: Fed Trips over Eye-Popping Commercial Real Estate Bubble, Accidentally Looks, Sees “Early Signs” of “Search for Yield”
Commercial real estate has been on a tear that looks to have much more to do with cheap money than real economy prospects.
Read more...John Helmer: Australian and Dutch Officials Lose Control on MH17
Now government officials and police are disagreeing with each other…
Read more...Gulf States to be Hoist Early on Climate Change Petard
The Gulf states will be among the first to suffer severe repercussions from climate change. The problem is the rest of us will not be all that far behind in line.
Read more...For Profit College, Student Loan Default, and the Economic Impact of Student Loans
A deep dive into some new information about the student loan defaults and the impact of borrowing on borrowers. Short version: not pretty.
Read more...Links 11/9/15
Greece and Creditors at Loggerheads Again; Troika Wants More Foreclosures
uropean creditors want to extract more blood from a stone, in this case Greece.
Read more...CalPERS Changes Executive Bonus Procedure After We Alert Them of Violations, but Still Falls Well Short of CalSTRS on Transparency
We infromed theCalPERS’ board members that the manner in which they had awarded bonuses and salary increases to CalPERS executives fell short of the requirements of the Bagley-Keene Open Meeting Act of 2004. CalPERS took some steps to address the lapse.
Read more...How Kissinger Made Bombing the Iron Fist of US “Diplomacy”
How Kissinger institutionalized the use of bombing as a way to bend other countries to America’s will.
Read more...Links 11/7/15
Wait: Maybe Europeans are as Rich as Americans
Many Europeans argue that when you adjust nominally higher American incomes for how much we spend from our own pockets on healthcare plus the longer hours we work, we aren’t better off.
Read more...Supervising Culture and Behavior at Financial Institutions
Financial regulators increasingly acknowledge organizational culture as a source of systemic risk, yet they have been loath to do more than influence compensation structures, since they do not want to be perceived to be interfering with management. This post describes a new approach in the Netherlands that
Read more...The Future of Work and the Role of Climate Change
Consideration of climate change has been almost totally missing from discussions about the future of work. What happens when you include it?
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