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+22 +1
Idiotic Conservative Anti-Stimulus Talking Point Won’t Die
The other day, I pointed out that even leading conservative intellectuals who find themselves aghast at Trump, like Commentary editor John Podhoretz, still reside within a right-wing thought bubble, unaware of obvious facts that refute their preconceptions. National Review’s Jim Geraghty rises to Podhoretz’s defense, but serves only to underscore my point.
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+27 +1
We talked to five experts about what it would take to actually institute Universal Basic Income
Free monthly checks for all sounds like a wonderful proposal, but how feasible is UBI to implement in reality?
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+20 +1
The Economy We Want Starts With a Constitutional Amendment
A more democratic and equal election system is the first step toward a more democratic and equal economy.
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+27 +1
The Sanders “Economic Plan” Controversy
Economist Gerald Friedman did an analysis of Senator Bernie Sanders's plan suggesting it would produce significant growth in the economy -- and then a group of left-leaning economists flipped out. By Dave Johnson.
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+9 +1
An Open Letter to the Republican Establishment
You are the captains of American industry, the titans of Wall Street, and the billionaires who for decades have been the backbone of the Republican Party.
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+5 +1
The new wave
Surprisingly little is known about the causes of inequality. A Serbian-American economist proposes an interesting theory.
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+11 +1
Are Billionaires Fat Cats or Deserving Entrepreneurs?
A key empirical question in the inequality debate is to what extent rich people derive their wealth from “rents”, which is windfall income they did not produce, as opposed to activities creating true economic benefit.
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+10 +1
The Secret Shame of Middle-Class Americans Living Paycheck to Paycheck
Nearly half of Americans would have trouble finding $400 to pay for an emergency. I’m one of them.
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+38 +1
Universal Basic Income Is Inevitable, Unavoidable, and Incoming
The last time I saw universal basic income discussed on television, it was laughed away by a Conservative MP as an absurd idea. The government giving away wads of cash responsibility-free to the entire population sounds entirely fantastical in this austerity-bound age, where “we just don’t have the money” is repeated endlessly as a mantra. Money, they say, does not grow on trees. (Only as figures on the screen of a computer).
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+24 +1
To Fix Economy, U.S. May Need a Second Keynesian Revolution
The U.S economy is hurting. Despite massive stimulus programs and historically low interest rates, the economy remains mired in a slow growth cycle characterized by low labor force participation, wage stagnation and a lack of adequate investment. To get the economy moving again, we may need to draw on lessons learned from past generations.
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+39 +1
The Shift to a Cashless Society is Snowballing
The world is increasingly becoming a cashless society. See the progress in this monumental shift, along with the pros and cons behind the elimination of cash.
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+7 +2
Bull Market Blues
**Submitter's note: browse in Privacy/Incognito mode.** The fact that the major averages have lately been hitting new highs — the Dow has risen 177 percent from its low point in March 2009 — is newsworthy and noteworthy. What are those Wall Street indexes telling us?
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+27 +1
Universal basic income wouldn’t make people lazy–it would change the nature of work
Americans believe in the importance of a good day’s work. And so it’s understandable that the prospect of a universal basic income (UBI), in which the government would issue checks to cover the basic costs of living, rubs some people the wrong way. Writing in The Week in 2014, Pascal-Emmanuel Gobry envisions a UBI dystopia in which “millions of people” are “listing away in socially destructive idleness,” with “the consequences of this lost productivity reverberating throughout the society in lower growth and, probably, lower employment.”
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+4 +1
This is what a long economic winter feels like
Leave it to an economist living in communist Russia to find a pattern in capitalist countries’ economies – a pattern that paints a chilling picture for the global economy over the next few years. In the 1920s, Russian economist Nikolai Kondratiev (also spelled Kondratieff) developed a theory that prices, interest rates, foreign trade and coal and pig iron production in capitalist countries moved in long waves of 50-60 years. This meant that “great depressions” were a natural part of the capitalist system, and were followed by periods of recovery.
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+6 +1
Soros: Capitalism versus Open Society
Today I want to explore the conflict between capitalism and open society, market values and social values. I am going to approach the subject indirectly, by first introducing a phenomenon that has attracted my attention only recently, but has assumed such importance in my thinking that I could almost call it the fourth pillar of my conceptual framework. That phenomenon is the principal-agent problem.
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+28 +2
India Considers Fighting Poverty With a Universal Basic Income
India is looking at a radical idea for reducing poverty: free money for everyone—no strings attached. The Ministry of Finance’s annual survey of the economy, released Tuesday, explores how the country might replace its various welfare programs with a universal basic income, or a uniform stipend paid to every adult and child, poor or rich. Guaranteeing all citizens enough income to cover their basic needs would promote social justice...
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+22 +1
The Globe of Economic Complexity: Visualize $15 Trillion of World Exports
One dot equals $100M of exports
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+16 +1
Cutting the Gordian Knot of Technological Unemployment with Unconditional Basic Income
Invisible Sheep, the Missing Right, and the Return of Common Wealth. In the opening of the film 2001: A Space Odyssey, viewers are shown a historic moment in time where primitive man used the first tool. It was a bone, and used like a club, it allowed a physically weaker group to overpower a physically stronger group.
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+5 +1
Rising Interest Rates: What Do They Mean For You?
View our blog for tips on saving and budgeting your money, getting accounts started, help avoiding scams and more.
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+14 +1
Driverless lorries could mean 600,000 lost jobs. It's time we took a universal basic income seriously.
With trials for self-driving commercial lorries to take place in the UK within the next twelve months, the work days of thousands of Britain’s long-haul drivers may soon be numbered. Of course, these are only preliminary tests – it may well be a decade or more before driverless deliveries and long-distance haulage are an everyday reality. However, with the beginnings already upon us, a boom in automated jobs is surely coming sooner rather than later.
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