Category Archives: Free markets and their discontents

Why the Wall Street Journal Is Wrong About the US Oil Export Boom

Debunking a Wall Street Journal article on rising oil exports.

New York Times Sends Cease & Desist Letter Over CalPERS’ Massive Copyright Infringement; Potential Damages Eight Figures for Times and WSJ Each; Theft Extends to Virtually Every News Publication in US

CalPERS, the biggest public pension fund, appears to have perpetrated the largest copyright infringement in the history of the news industry.

“Heads Should Roll at CalPERS”: Who Should Be Held Accountable for Massive Copyright Infringement?

CalPERS’ copyright theft is so large and indefensible that not only might it force a shakeup, but the truly responsible people could go.

Wolf Richter: Amazon to Slash Jobs at Whole Foods, Dump Cashiers, Switch to Cheaper Products in Price War with Wal-Mart

Amazon acquisition likely to crapify Whole Foods by cost-cutting: slashing and degrading jobs, and reducing quality.

Yanis Varoufakis: Latest Eurogroup Statement Keeps Greece on the Austerity Rack

The Eurogroup doubles down on Greek debt extend and pretend, to its members political advantage and at great cost to Greek citizens.

Trump Administration Welshes on “Repeal Dodd Frank” Promise, Does Not Back Key Elements of House Bill; Seeks to Give Banks Lots of Other Goodies

Banks are champing at the bit to get Dodd Frank “reform,” when for many, the changes will actually increase their costs.

Globalization and Executive Compensation

One way globalization has increased inequality: via executive pay.

Measuring the Impact of Immigration on Wages: The Mariel Boatlift Controversy

125,000 mainly low-skill Cuban immigrants arrived in Miami in 1980. Economists are still debating whether they lowered local wages.

Starved School Budgets Across the US: A Symptom of Education Funding Crisis

School budgets are in worse shape in many parts of the US than you might have imagined.

Theresa May in Election Jitters Caught Lying About Tory Plans to Cut The NHS

Quelle surprise! The Tories are scheming against the NHS!

The “Market Forces” Behind the Obamas’ Record-Setting Book Deal

The Obamas’ book deal exemplifies the thesis that if a payment is too high for the nominal services, it must be for something else too.

Why International Financial Crises?

Despite the high cost of financial crises, the world seems no closer to making needed reforms.

The New New Deal

The myth of the virtues of markets is past its sell-by date. Time for a new guiding principle, and the New Deal may be the place to start.

Europe’s Faustian Bargain with Big Finance

An overview of the cost of Europe’s failure to rein in its financial institutions and the options for bank and Eurozone reform.