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"The Yale philosopher Thomas Pogge argues that when it comes to global poverty, the morally relevant metric of progress is neither absolute numbers nor proportions nor even the trajectory of poor people’s incomes, but rather the extent of poverty compared to our capacity to end it. By this yardstick, he ...Read More
Bernie Madoff whistleblower Harry Markopolos joins "Squawk on the Street" to discuss his fraud allegations against General Electric, and why he believes the company is headed for bankruptcy
The duel is one of the most fascinating, and significant events, in corporate America. The investigator alleges that what appears to be a highly qualified team doesn't comprehend its own accounting, and fails to recognize that it's virtually insolvent––and may even be cooking the books––while GE claims that its attacker ...Read More
Raoul Pal on just how bad things are looking accross the currency markets
The new economists’ enormously ambitious project means transforming the relationship between capitalism and the state; between workers and employers; between the local and global economy; and between those with economic assets and those without. (...) The result, the new economists claim, will be an economy that suits society, rather than ...Read More
"Over the past two decades, economists have tried to structure their work, as much as possible, to resemble scientific experiments. This “credibility revolution” is an attempt to explicitly link causes to effects, and sweep aside the old criticism that correlation is not the same as causation. One of the advantages ...Read More
How to Break the Economy in the United States Normally a person would be in favor of either an easy monetary policy to stimulate the economy or a hard monetary policy to exert discipline on the government. Either way, one would not expect her to hold both views at the same time. Yet Ms. Shelton does exactly that.
Though business profits remain healthy and the economy is strong, total corporate taxes are at the lowest levels seen in more than 50 years. At the same time, overall taxes paid by individuals under the new tax law are up so far this year by 3 percent, thanks to higher wages and salaries, according to the Congressional Budget Office. Last year tax payments by individuals went up 4 percent. ...Read More
It is possible for a democratic economy to be built in the here and now, from the bottom up, whilst embedding the ability to both scale and amplify collective forms of ownership and governance elsewhere. While PCPs are only one part of this project, their operation will help facilitate the ...Read More
*I am not a Nick Szabo fan* His blog is a very valuable resource for the historical analysis of money.
"There are six major changes in the global capitalist economy since the 1970s that increase the potential fragility, instability, and the amplification and propagation rate of the fragility-instability events"
This is a good article to read in conjunction with this one: https://www.bloomberg.com/news/articles/2019-05-22/economics-reinvents-itself-every-few-decades-it-s-happening-now Seems like there might not be too much room to go back to the way things were before in case another recession hits. ...Read More
With interest rates close to zero in the US and at zero in Japan and Europe governments will have no choice but to rely on quantitative easing if another recession arrives. This goes along with the MMT theory that as long as inflation doesn’t increase governments don’t need to worry There are risks of politicizing government spending and politicians doing as they please for political reasons. I’m curious what happens if inflation does rise, will the Fed stop buying gov bonds prompting politicians to rein in spending? Or will the power of the Fed be eroded? ...Read More