Is Higher Education a Pyramid Scheme?
Labor exploitation, higher education edition.
Read more...Category Archives: The destruction of the middle class
Michael M. Thomas, R.I.P
I am very much saddened by the death of Michael M. Thomas, from old money and high finance, and vocally unimpressed by them.
Read more...Why Economists Don’t Write More Papers on Political Finance
Despite the commonly held views of economists on regulatory capture, our profession has been much more hesitant in recognising similar conflicts of interests that may exist in economics research.
Read more...Close to 50% of US Workers Can’t Afford to Rent One Bedroom Housing
An update on the already desperate and worsening state of the market for renters in the US.
Read more...Why Elon Musk Isn’t Superman
Why Elon Musk, despite having built significant operating companies, is still mainly in the bezzle business.
Read more...More Hospitals Nearing Breaking Point as Covid Spikes; Skrimping on Nurses’ Pay Made Bad Situation Worse
Nurses get a lot of lip service, but not enough pay or respect, and that contrasted with Covid risks has led to many quitting.
Read more...Hubert Horan: Can Uber Ever Deliver? Part Twenty-Seven: Despite Staggering Losses, the Uber Propaganda Train Keeps Rolling
How Uber keeps pumping hot air into a financially flaccid business.
Read more...Globalization, Specialization, and the Division of Labour
A new angle on why workers lose out as globalization increases.
Read more...Hubert Horan: Can Uber Ever Deliver? Part Twenty-Six: With No Hope of Real Profits, Uber and Lyft Double Down on Fake Profit Metrics
Uber continues to hemorrhage cash and rack up impressive negative operating margins, yet the press eats up its accounting misdirection.
Read more...Fed Up With Democrats, Thousands March to Demand Medicare for All
More voters recognize that the Democrats will do squat about expanded health coverage like Medicare for All unless they feel some heat
Read more...Grassroots Fight for $15 Movement Has Won $150 Billion in Raises for Millions of Workers, Study Shows
The campaign to raise the hourly wage to $15 has been racking up successes, even if the press doesn’t much take notice.
Read more...Wolf Richter: After Slashing 33% of Workers in 6 Years, Railroads Complain about Labor Shortages, amid Uproar over Slow Shipments
Railroads are finding it difficult to hire workers and their labor shortfall has prevented them from meeting transportation demand
Read more...FTC Votes 5-0 to Crack Down on Companies For Thwarting Right to Repair
FTC issues new policy statement announcing a tougher enforcement stance on company repair and warranty practices.
Read more...Artificial Intelligence Wants You (and Your Job)
Yves here. Two things about increased automation frost me. One is its stealth or main purpose as forcing planned obsolescence. So irrespective of the impact on job/labor content, any savings won’t necessarily accrue to users. Two is automation/AI serving as an excuse to shift costs and tasks onto consumers. How many times do customer service […]
Read more...Financial Times: “Things Could Fall Apart for Biden”
Even Biden loyalists are getting nervous.
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