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+13 +3
How the Olympics rotted Greece
And here’s the obvious question: Should the International Olympic Committee shoulder some of the blame?
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+21 +5
Yanis Varoufakis opens up about his five month battle to save Greece
In his first interview since resigning, Greece's former Finance Minister says the Eurogroup is “completely and utterly” controlled by Germany, Greece was “set up” and last week’s referendum was wasted.
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+10 +2
The Laziness Dogma
Mr. Bush’s aides have tried to spin away his remark, claiming that he was only referring to workers trying to find full-time jobs who remain stuck in part-time employment. It’s obvious from the context, however, that this wasn’t what he was talking about.
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+16 +3
Congress Attempts to Run the Government Under Norquist Rules
The Republican Congress follows certain budgetary principles that have been in place long enough that they have faded into the backdrop of the political debate and are not the subject of open debate, or even acknowledgement, but taken as a given. The rules hold that if Congress votes to cut taxes or to increase military spending, it can disregard the costs. Domestic spending, on the other hand, can only be increased if Congress “pays for it” with offsetting measures.
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+21 +6
Americans really do have to work harder to stay middle class
Roughly 90% of Americans describe themselves as “middle class”—either, upper middle class, lower middle class, or plain middle class—according to recent research from the Pew Research Center. That’s a highly desirable bloc of potential voters. And they’re a group that’s stuck in a rut, making them especially insecure.
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+2 +1
Greece debt crisis: IMF attacks EU over bailout
The International Monetary Fund (IMF) has warned a third bailout of Greece may already be in jeopardy and attacked the deal offered by eurozone leaders.
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+16 +5
Self-Driving Cars May End the Fines That Fill City Coffers
Not everyone is looking forward to the age of autonomy. One potential loser? Local governments.
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+1 +1
Piketty’s Capital should force a rethink on animals as property
Should animals be treated like other forms of property such as land, machinery and “stocks”? What role do animals that are owned by humans play in the concept of global wealth?
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+40 +6
Pay Is Stagnant for Vast Majority, Even When You Include Benefits
Between 2007 and 2014 the median worker’s wages and compensation declined, respectively, by 4.0 and 1.9 percent. Among the bottom 40 percent of workers there was an even greater decline in compensation than there was in wages, indicating that including benefits as well as wages in an analysis results in a more adverse trends
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+13 +3
Effective Policy for Reducing Inequality? The Earned Income Tax Credit and the Distribution of Income
In this paper, we examine the effect of the EITC on the employment and income of single mothers with children. We provide the first comprehensive estimates of this central safety net policy on the full distribution of after-tax and transfer income.
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+15 +5
America's Best Poverty-Fighting Tool May Be Even Better Than We Thought
The Earned Income Tax Credit has long been one of the wonk's favorite poverty-fighting tools. It's a tax credit available only to those who work, so it works as a powerful incentive to find employment. It also acts as a subsidy for low-paying jobs, which are often the only ones that the poor can find. And the money comes from the government, so it doesn't distort labor markets or meet resistance from employers, as the minimum wage does.
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+21 +6
The end of capitalism has begun
Without us noticing, we are entering the postcapitalist era. At the heart of further change to come is information technology, new ways of working and the sharing economy. The old ways will take a long while to disappear, but it’s time to be utopian
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+20 +4
Liberals and Wages
Many economists used to think of the labor market as being pretty much like the market for anything else, with the prices of different kinds of labor — that is, wage rates — fully determined by supply and demand. So if wages for many workers have stagnated or declined, it must be because demand for their services is falling.
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+18 +5
Greece and Europe: Is Europe holding up its end of the bargain?
Now that the Greek parliament has agreed to European demands for tough new austerity measures and structural reforms, Ben Bernanke asks whether Europe is holding up its end of the bargain.
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+16 +4
Eternal Greece
Matt O’Brien directs us to a Heritage Foundation economist presenting what is portrayed as a startling idea: America could become Greece! And it’s true — there probably haven’t been more than a few thousand articles issuing the same warning in the five (5) years since Alan Greenspan published “US Debt and the Greek Analogy“, with this immortal complaint:
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+6 +1
The Three Biggest Right-Wing Lies About Poverty
Rather than confront poverty by extending jobless benefits to the long-term unemployed, endorsing a higher minimum wage, or supporting jobs programs, conservative Republicans are taking a different tack.
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+14 +3
Why the European authorities refuse to let Greece recover
Despite Syriza’s surrender, the new bailout agreement makes Grexit more likely in the future
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+25 +5
Europe’s Economic Misery Has Worked Out Pretty Well for Germany
With the finalization of a potential Greek debt deal drawing closer, former Federal Reserve chairman turned blogger Ben Bernanke has a post Friday morning excoriating Europe's past five years of economic policy in which he chides Germany for more or less sucking the life out of its neighbors. In it,...
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+35 +6
The Great U-Turn
Do you recall a time in America when the income of a single school teacher or baker or salesman or mechanic was enough to buy a home, have two cars, and raise a family? My father (who just celebrated his 100th birthday) earned enough for the rest of us to live comfortably. We weren’t rich but never felt poor, and our standard of living rose steadily through the 1950s and 1960s.
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+28 +1
Why Liberals Have to Be Radicals
The reforms needed to restore the country's shared prosperity are to the left of all the candidates, including Sanders.
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