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Tag Archives: Income disparity

Everything You Thought You Knew About Western Civilization Is Wrong: A Review of Michael Hudson’s New Book, And Forgive Them Their Debts

By John Siman To say that Michael Hudson’s new book And Forgive Them Their Debts: Lending, Foreclosure, and Redemption from Bronze Age Finance to the Jubilee Year (ISLET 2018) is profound is an understatement on the order of saying that the Mariana Trench is deep. To grasp his central argument is so alien to our modern way of thinking about civilization and barbarism that Hudson quite matter-of-factly agreed with me that the book is, to the extent that it will be understood,...

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Gaius Publius: Amazon Rips Off 238 Cities, States and Provinces, Then Builds in NYC and DC

By Gaius Publius, a professional writer living on the West Coast of the United States and frequent contributor to DownWithTyranny, digby, Truthout, and Naked Capitalism. Follow him on Twitter @Gaius_Publius, Tumblr and Facebook. GP article archive  here. Originally published at DownWithTyranny Andrew Cuomo’s priorities (source) The world’s leading monopolists, Jeff Bezos and Amazon, after much thought (or in fact, very little thought) have picked two cities for their new HQ2, their second...

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AOC Rental Woes a Reminder of Worsening Conditions for Workers

The media coverage of the fact that Alexandria Ocascio-Cortez can’t yet move to Washington because she can’t afford to rent an apartment is another Versailles circa 1788 moments. Washington has so long been expensive that even before working-class AOC stormed the barricades there have long been stories of Congresscritters who live in their offices in DC rather than rent an apartment. The most famous case is Paul Ryan. As Kentucky representative Andy Barr said in 2015, “I think there’s more...

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Raising Minimum Wages Reduces Recidivism

Yves here. Another reason to push for higher minimum wages. And someone needs to clue in conservatives that their alternatives are not so hot. Fewer people are interested in becoming cops due to news coverage of police brutality. By Amanda Agan, Rutgers University and Michael Makowsky, Associate Professor, John E. Walker Department of Economics, Clemson University. Originally published at VoxEU Individuals with a criminal record face difficulties in the labour market that can compel them to...

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The Super Rich Get Even Richer

By Paul Rogers, professor in the department of peace studies at Bradford University, northern England. He is openDemocracy’s international security adviser, and has been writing a weekly column on global security since 28 September 2001; he also writes a monthly briefing for the Oxford Research Group. His latest book is Irregular War: ISIS and the New Threat from the Margins (IB Tauris, 2016), which follows Why We’re Losing the War on Terror (Polity, 2007), and Losing Control: Global Security...

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Cryptocurrencies: Financial (In)stability and (Un)fairness

By Jon Danielsson, Director of the ESRC funded Systemic Risk Centre, London School of Economics. Originally published at VoxEU Cryptocurrencies are controversial.  Advocates see them as a better form of money that imparts freedom, useful economic functions, fabulous riches and hedges against bad government policies. The sceptics worry about investor protection and environmental impact. Cryptocurrencies today do not pose much threat to financial stability, as noted by den Haan et al. (2017)...

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From Brothels to Independence: The Neoliberalization of (Sex) Work

Yves here. Further confirmation that the gig economy is not what it is cracked up to be. Sex workers in the UK have less privacy, lower returns, and much less safety in the days of online platforms than they did when brothels dominated the profession. By Ava Caradonna, a migrant, a sex worker, a student, a mother, a citizen, a trans person, a person of colour, a teacher, a queer, a lesbian, and a militant. Ava allows us to speak from different positions as sex workers and as allies, without...

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Erasing Economics and Economic Policy from Politics: The Race and Xenophobia Sideshow

By Lynn Parramore, Senior Research Analyst at the Institute for New Economic Thinking. Originally published at the Institute for NeW Economic Thinking website Adolph Reed, who researches race and politics, warns that “identitarian” politics can conceal the structural inequities of capitalism. Lynn Parramore: As the elections approach, media pundits seem focused on the idea that the country is facing a racist and xenophobic breakdown promoted by Trump and the GOP. The Democrats posit...

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Big Money—Not Political Tribalism—Drives US Elections

Menu Home About Archives Bloggers Policies Documents Limited Partnership Agreements Contact Fearless commentary on finance, economics, politics and power Follow yvessmith on TwitterFeedburner RSS FeedRSS Feed for CommentsSubscribe via EmailSUBSCRIBE Menu Skip to content Home About Archives Bloggers Policies Documents Limited Partnership Agreements Contact Recent Items Publishing and Promotion in Economics: The Tyranny of the Top Five - 11/02/2018 - Yves Smith Links 11/2/18...

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Economic Distress Did Drive Trump’s Win

Yves here. The Institute for New Economic Thinking has published an important new paper by Thomas Ferguson, Benjamin Page, Jacob E. Rothschild, Arturo Chang, and Jie Chen on the 2016 Presidential election, seeking to understand why Trump won. The authors performed analyses on different data sources, such as surveys on voter attitudes, and the composition of districts that had a higher Trump share in 2016 than Romney got in 2012. It also has a section discussion the various political stances...

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