A lot of people are misreading this Princeton study on the political influence of the wealthy and business groups versus ordinary citizens. The study does not say that the US is an oligarchy, wherein the wealthy control politics with an iron fist.
Read more...Since readers have taken interest in the details of our ongoing litigation with the giant California public pension fund, CalPERS, I thought I’d tie off a thread from earlier in the month. By way of background, last September, we filed a Public Records Act request (California’s version of FOIA) for private equity return data that […]
Read more...Yves here. This is a day-late Earth Day post, but the proper stewardship of this planet is a 365-day-a-year duty. Ilargi focuses on one of my pet issues, that too many of the remedies for climate change (and environmental protection generally) rely on the illusion of new technology eliminating or blunting the need for lifestyle changes.
Read more...China’s increasing debt level has goosed the economy. What form might the hangover take?
Read more...Yves here. The subject of inequality in income and wealth has, in the last year or so, become an oft-mentioned topic in economic and political commentary. It’s now even acceptable to use the word “oligarchy” to describe the US. Yet too often lost in the debate is that this type of inequality is the result of what right society allows various members to have. For instance, in the last 30 years, intellectual property laws have gotten stronger while the rights of workers to organize have been cut back.
We had a more equitable society when unions were stronger, taxes were more progressive, and anti-trust laws were enforced. This post by Geoff Davis serves as a reminder that there are remedies other than progressive taxation (which he regards as an after-the-fact remedy) to achieve that end.
Read more...A fresh look at historical data shows how the relationship between unemployment and wage growth changed radically starting in 1981.
Read more...Why are long hours and more focus on work the new normal?
Read more...Contrary to the claims of some overwrought Easter weekend posts, the tax court did not revoke attorney-client privilege. Here’s why.
Read more...Satyajit Das reviews Michael Lewis’ book Flash Boys. Das finds it to be deeply flawed,: deficient in its understanding of HFT and not very well written.
Read more...Gerald Epstein provides an informative, layperson-accessible update on what has become of the much-ballyhooed Volcker Rule.
Read more...McKinsey has issued a new report on the private equity industry that ought to give any investor cause for pause.
Read more...While Michael Lewis’ book Flash Boys is sensationalistic and simplistic, it may goad regulators into action, particular since many knowledgeable observers have been making similar arguments for years. But let’s hope they focus on the real issues.
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