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+2 +1
Photos of a new, sprawling Amazon warehouse in Mexico surrounded by deteriorating shacks have gone viral as the tech giant continues to expand its footprint internationally
A sprawling new Amazon fulfillment center in Tijuana, Mexico, is surrounded by deteriorating housing. The photographer Omar Martinez captured images of the warehouse, which show a stark contrast between Amazon's crisp, white facility and the crumbling shacks around it. They were shared widely and discussed on Reddit and Twitter.
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+16 +1
The Death Of Commuting
The rising interest in remote work is largely an American phenomenon and an important trend to understand for its long-run impact on US productivity growth. The bottom line is that remote work is here to stay; workers hate commuting. The increasing popularity of remote work combined with new technology should lead to higher US productivity than the last 2 decades.
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+14 +1
Survey Shows People No Longer Believe Working Hard Will Lead To A Better Life
A growing sense of inequality is undermining trust in both society’s institutions and capitalism, according to a long-running global survey. The 2020 Edelman Trust Barometer – now in its 20th year – has found many people no longer believe working hard will give them a better life.
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+17 +1
New finding: in 49 Australian industries the major firms are owned by common investors
Shared ownership means Australian industries are far more concentrated than traditional metrics suggest.
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+16 +1
The Making of the Mother of All Economic Booms
Lael Brainard is the hero of the hour
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+18 +1
The minimum wage would be $44 an hour if it had grown at the same rate as Wall Street bonuses
The chaos that the coronavirus pandemic unleashed on America's economy turned out to be a major boon for Wall Street traders, according to new data from the New York state comptroller's office.
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+23 +1
NFTs, Tech Bros, and a Capitalistic Nightmare
The year is 2021. The divide between the rich and poor has never been more damning.
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+20 +1
Here’s the problem the Fed is fueling — and it’s not inflation, strategist says
The recent spike in bond yields finally has the attention of Federal Reserve policy makers. Gov. Lael Brainard said on Tuesday that “some of those moves last week and the speed of the moves caught my eye.” San Francisco Fed President Mary Daly said the central bank could alter the maturity of its bond purchases — or even, as it has done before, sell shorter-term securities to buy longer-term government bonds in a so-called “twist.”
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+16 +1
Shift in U.S. spending emphasis ‘almost the end of Reaganomics,’ strategist says
The change in emphasis for fiscal stimulus in the U.S. under President Joe Biden has effectively signaled "the end of Reaganomics," according to Embark Group CIO Peter Toogood.
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+19 +1
What Marrying Into Money Taught Me About Capitalism
The rich get richer isn’t a saying, it’s literally how capitalism works. All that stuff about hard work and ‘hustle’ is bullshit. It’s not called ‘laborism’ lol, capitalism is all about CAPITAL. Let me give you the example of my life. I married into money. For your purposes, I am labor and my wife is capital. You can see the whole game play out within our marriage.
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+36 +1
House: Amazon, Facebook, Apple, Google have “monopoly power,” should be split
Last June, the House Judiciary Subcommittee on Antitrust, Commercial, and Administrative Law began an in-depth investigation into four major firms—Amazon, Apple, Facebook, and Google. The subcommittee wanted to answer one key question: did Big Tech get big playing by the rules, or does it cheat to stay at the top? After 16 months of hearings, research, and analysis, the panel's findings are out... and the results look really bad for every company involved.
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+21 +1
Covid billionaires should help starving people, says charity boss
Billionaires whose wealth has soared during the coronavirus pandemic should stump up to provide emergency aid to the record numbers of people facing starvation, the head of a US charity supporting the World Food Programme has said.
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+15 +1
Burning the furniture: my life as a consumer
Some thoughts on buying a house, white privilege and homewares for the apocalypse
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+18 +1
Automation isn't wiping out jobs. It's that our engine of growth is winding down
In army of robots now scrub floors, grow microgreens and flip burgers. Due to advances in artificial intelligence, computers will supposedly take over much more of the service sector in the coming decade, including jobs in law, finance and medicine that require years of education and training.
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+23 +1
Eye-popping wage report charts 40 years of worsening income inequality as the top 1% thrive
Wage inequality is getting worse, according to new data from the Social Security Administration, which shows a steady trickle-up effect in worker income during every period for the last four decades. That’s happening as wages for the bottom 90% of earners are being “continuously redistributed upward” to the top 10% and often even further to the top 1% and 0.1%, reports the Economic Policy Institute, which analyzed the data. Since the year 1979, while wages for the bottom 90% saw a modest growth of 26%, wages for the top 10% grew between 51.8% to 75.1%.
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+15 +1
The Rich Kids Who Want to Tear Down Capitalism
Socialist-minded millennial heirs are trying to live their values by getting rid of their money.
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+3 +1
Charlie and the Chocolate Factory: A Capitalist Dystopia
No story excites children quite like Charlie and the Chocolate Factory. First published in 1964 by English author, Roald Dahl, the story continues to capture imaginations. 1 The premise is simple, a usually unlucky boy is one of five winners of a worldwide competition. The prize is a once in a lifetime opportunity to tour a world famous chocolate factory. As an added bonus, the winning children are given a lifetime supply of sweet treats. There is scarcely a child who would not want that.
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+11 +1
Covid vaccine won’t be an ‘instant stimulus’ to the U.S. economy, warns economist
A Covid-19 vaccine will not result in an “instant stimulus” to the U.S. economy, which still needs greater fiscal support as its recovery loses momentum, an economist said on Wednesday. Markets globally rallied after Pfizer and BioNTech announced on Monday that their coronavirus vaccine was more than 90% effective in preventing the disease among those with no evidence of prior infection.
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+1 +1
Attenborough: 'Curb excess capitalism' to save nature
Sir David Attenborough says the excesses of western countries should "be curbed" to restore the natural world and we'll all be happier for it. The veteran broadcaster said that the standard of living in wealthy nations is going to have to take a pause. Nature would flourish once again he believes when "those that have a great deal, perhaps, have a little less".
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+2 +1
Study: Inequality Robs $2.5 Trillion From U.S. Workers Each Year
Every few months, some group of socially conscious number crunchers will remind Americans that a tiny elite is binge-eating the nation’s economic pie while the rest of us plebeians fight over table scraps. Journalists will then aggregate eye-popping statistics and edifying charts, progressives will share these over social media, adorned with red-faced (and/or guillotine) emoji — and the moral arc of history will carry on bending toward neofeudalism.
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