Money Talks, Big Time: 1% Politics and the Scandals of A New Gilded Age
A social order where the power of money plays an outsized role looks illegitiamate, particularly when citizens have been sold the myth of meritocracy.
Read more...Category Archives: The destruction of the middle class
Bank Regulation Can’t Be Heads Banks Win, Tails Taxpayers Lose
At a G20 preparatory meeting, an INET panel analyzed how governments can prevent banks from exploiting taxpayer-funded bailout guarantees. The panelists didn’t mince words.
Read more...Profile of a Scam: How Rick Singer Built a College Entrance Cheating Machine
An important Wall Street Journal story digs into how Rick Singer created his college entrance cheating empire.
Read more...Work of the Past, Work of the Future
How the change in the nature of work has helped increase income inequality.
Read more...Brexit Delay Will Not Postpone Deglobalisation
The world economy has experienced deglobasation phases before. How this one differs from its predecessors.
Read more...The #MMT Case for Progressive Taxes
MMT advocate typically shy away from calling for progressive taxes. A case as to why that’s a lost opportunity.
Read more...Report from the Ground in Paris: The Most Recent Gilets Jaunes Protests
A report from Colonel Smithers.
Read more...“Middle Class” Once Meant Stability and Now Means Fragility
The middle class used to be the bedrock of American institutions. Now its members are coping with an uncertain future.
Read more...A Way-Too-Early Handicapping of the 2020 Presidential Race
2020 is already in the news. so you might as well start working on your scoresheet!
Read more...Another Way the Rich Get Richer: US Indicts Fifty for College Admissions Fraud
Federal prosecutors indicted fifty people yesterday for college admissions fraud at several elite institutions, including Georgetown, Stanford, and Yale. Serious discussion of how college admissions procedures foster inequality is long overdue.
Read more...Bill Black Analyzes Brad DeLong’s Stunning Concession: Neoliberals Should Pass the Baton and Let the Left Lead
Bill Black analyzes Brad DeLong’s concession that neoliberals should get out of the way and let the left lead since their coalition with Republicans did not work.
Read more...Economic Consequences of the U.S. Convict Labor System
US counties with convict labor often have lower wage and employment growth
Read more...Hubert Horan: Can Uber Ever Deliver? Part Eighteen: Lyft’s IPO Prospectus Tells Investors That It Has No Idea How Ridesharing Could Ever Be Profitable
Lyft’s prospectus doesn’t even pretend that the company might become profitable, let alone justify a $20-25 billion valuation.
Read more...Do Real Estate Markets Make Our Cities Less Livable?
Author Samuel Stein talks about how capitalism shapes cities.
Read more...China Syndrome Redux: New Results on Global Labour Reallocation
What did China gain when the US lost manufacturing jobs?
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