Wednesday , January 29 2020
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Tag Archives: Income disparity

Desperation Hidden in Plain Sight: Coastal Edition

We’ve regularly featured “How Is Your Economy?” queries to readers to get a more granular view of how different regions and industries in the US (and selectively abroad) are faring. A short thread in Links yesterday has me wondering if I’ve been asking the wrong question all these years. Asking about overall conditions can direct commentary away from reports on signs of desperation, unless there’s a lot of local distress. In fact, with seemingly ever-rising inequality and in the US,...

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“A Who’s-Who” of People Against Progressives’ Agenda: DNC’s Perez Under Fire for Convention Committee Picks

Yves here. As progressives, meaning the real thing, not the Vichy Left, are finally developing and flexing atrophied muscles, so their opponents are making it obvious they intend to thwart them. As one seasoned political analyst said via e-mail about the DNC’s picks: “Amazing porkers”. But can the party brass prevail now that not only are more and more Americans suffering, but they also know the economic deck has been stacked against them? And as Ursula LeGuin pointed out, “There are not...

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Another Great Depression or Tax Justice and Transparency? The Tax Justice Network January 2020 Podcast

Yver here. Lots of meaty topics this time at the TaxCast….like whether Brexit will usher in a buccaneer tax/finance regime, is depression just around the corner, and the looting of Angola. By Naomi Fowler. Originally published at Tax Justice Network The Taxcast kicks off the new decade with: the French strikes – tax justice and pensions vs financialisation the EU countries who’ve missed the deadline on publishing registers of real corporate owners the effect of Brexit on poorer (aka...

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Dark Satanic Mills Are Not Just a Historical Artifact: MP Castigates Leicester Fast Fashion Factories

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. I have posted frequently on fast fashion’s horrific waste footprint. But the fashion industry has another dirty little secret: persistent horrific labor conditions. These are not just confined d to factories in developing countries. Yesterday’s s Guardian features a story discussing the “national shame” of working conditions in Leicester’s fast...

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War on Cash: New York City Businesses Must Accept Cash, City Council Decides

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. Just a short post, conveying some  good news in  a skirmish in the ongoing war on cash:  a victory for all us who buy things in New York City. The New York City Council approved legislation on Thursday that bans stores, restaurants, and other retail establishments  from refusing to accept cash. Businesses that don’t comply will be smacked with fines...

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Precarity: A Political Problem

Yves here. The basic premises of this post are sound: that precarity is the result of the shift in the last couple of generations of business revenues away from workers and towards profits, or capital, if you prefer. And that most people are far too complacent about that because they have deeply internalized prevailing market/neoliberal ideology. Robert Heilbroner identified this tendency in his 1988 book, Behind the Veil of Economics. A major focus was contrasting the source of discipline...

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Jeff Bezos’ Not So Excellent Indian Adventure: Modi Government Disses Inept Amazon

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. Jeff Bezos visited India last week, bearing the gift of of an Amazon offer to invest one billion dollars and create jobs to an India that faces its worst economic prospects  — slowing growth, rising unemployment, moribund investment – in at least twenty years. He didn’t receive a fawning reception. The day before he arrived, the Competition Commission...

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The Lords and Ladies of Discipline: An Interview with Matt Stoller

Yves here. Implicitly, in this interview, Matt Stoller is referring to the contemporary incarnation of mainstream economics, which is neoclassical economics. It is worth remembering that neoclassical economics started being formalized in the late 19th century by thinkers like Leon Walras, Carl Menger, and William Jevons. One of the reasons their ideas took hold was first, that they aspired to establish that economics was a science that could be described in mathematical terms. Second, to do...

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A European Green Deal Will Not Work Without Refocusing Productivity

Lambert here: This is an EU-focused, supranational “Green Deal,” and so not directly comparable to the Green New Deal. However, I think that the same issues of productivity occur on either side of the Atlantic. By Karl Aiginger, Director, Policy Crossover Center: Vienna – Europe; Professor, Vienna University of Economics and Business. Originally published at VoxEU. The new president of the European Commission, Ursula von der Leyen, has announced a “European Green Deal” and the Commission has...

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Integrating Black and White American Economic History

By Trevon Logan, Hazel C. Youngberg Trustees Distinguished Professor of Economics, Ohio State University, and Peter Temin, Elisha Gray II Professor Emeritus of Economics, Massachusetts Institute of Technology. Originally published at the Institute for New Economic Thinking website In this paper, we combine white and black economic histories of the United States from its formation to the present. The Constitutional compromises between slave and free states set the stage for rapid economic...

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