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Category Archive: Economics

Apr 17 2014

Is growth always good?

It seems to be almost axiomatic these days to think of economic growth as an unfettered good. But must it always be so? Johann Hari in the April 2010 of The Progressive magazine wrote in a review of a book about John Maynard Keynes, whose influential work has been used to fuel growth, about what …

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Apr 15 2014

Call for higher taxes on the rich

Today is tax day in the US, the deadline for filing one’s returns. Reader Norm sent me this short clip by Robert Reich where he explains how it can be that the rich and super-rich pay taxes at a much lower rate than do the middle and classes, thanks to a whole bunch of measures …

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Apr 04 2014

The super-wealthy’s rise

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The Occupy movement did us the valuable service of focusing attention of income inequality and giving rise to the meme of the 1% vs. the 99%. While that is catchy, the reality is that it is what is going on with the top 0.1% that is really telling. The class struggle that is intensifying is …

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Apr 03 2014

How the stock market is rigged

Michael Lewis talks to Jon Stewart about his latest book where he explains how the stock market is rigged in favor of high-frequency traders and that since wall street banks, financial media, and government regulators are all locked into the current system and benefit from it, they resist any changes that might make it fairer.

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Mar 27 2014

Living hand-to-mouth while being well off

Many people live in a state of economic insecurity from paycheck to paycheck, where any sudden financial hit (illness, loss of job, major car or home repair) can cause serious hardship. Such people are nowhere close to meeting the rule of thumb of having at least eight month’s living expenses available in the form of …

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Mar 10 2014

The war on poorer retirees

There has been a concerted effort by the wealthy class in the US to get the media to think that cutting the debt is the biggest issue facing the nation and that there is only one way to do that and that is by cutting earned benefits. Peter G. Peterson, the billionaire former commerce secretary …

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Feb 27 2014

The new gilded age

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Jon Perr displays ten graphs that chart various economic measures over the last century or so. These include the share of total income by the top income brackets, CEO-to-worker compensation ratios, marginal tax rates for the highest income levels, effective tax rates, average incomes, and more. The graphs are spectacular in their clarity even if …

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Feb 12 2014

Walmart’s despicable practices

A Walmart employee answers common questions such as why it is so hard to find someone to help you locate items and why, when you do, they tend to be so surly.

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Feb 09 2014

The return of Karl Marx

Karl Marx is one of the major influences in the whole field of political economy. Even those who think he is the embodiment of evil have to acknowledge how much his analyses of capitalism has shaped the way we view things and structure our socieities. But some of his most publicized predictions were spectacularly wrong, …

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Jan 30 2014

Disturbing finding about the middle class

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The Pew Research Center has released the results of a new survey that finds that fewer Americans self-identify as middle class. This is disturbing but not for the obvious reasons.

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