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+36 +1
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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+21 +1
A Key Economic Argument Against Wealth Taxes Doesn’t Hold Up
Wealth has reached record highs. Corporations using their resources to keep shareholders happy, pressure on wages to fund these efforts and greater corporate concentration have all been major factors in the growth of wealth inequality.
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+26 +1
This town is giving families $500 a month. The results are remarkable
Recipients have used the money to apply for better jobs, spend more time with their children, or save for better housing
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+21 +1
Low unemployment isn’t worth much if the jobs barely pay
We should look at individuals—not national averages—as the unit of analysis, and ask: Are wages adequate for full-time workers?
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+3 +1
For the Economy, Climate Risks Are No Longer Theoretical
Last year Australia’s central bank hoped that several interest-rate cuts would mark a turning point for its slowing economy. That was before the worst bushfires in Australia’s history hit tourism, consumer confidence and growth forecasts for this year. There is now a good chance the bank will cut interest rates again soon.
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+11 +1
How a VAT could tax the rich and pay for universal basic income
The Congressional Budget Office just projected a series of $1 trillion budget deficits—as far as the eye can see. Narrowing that deficit will require not only spending reductions and economic growth but also new taxes. One solution that I’ve laid out in a new Hamilton Project paper, “Raising Revenue with a Progressive Value-Added Tax,” is a 10 percent Value-Added Tax (VAT) combined with a universal basic income (UBI)—effectively a cash payment to every US household.
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+23 +1
Gig economy traps workers in precarious existence, says report
Doteveryone thinktank says workers suffer from financial insecurity and loss of dignity
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+15 +1
Crazy idea but hear us out... With robots taking people's jobs, can we rethink this whole working to survive thing?
A nation of takeout deliverers
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+23 +1
Banking Collapse of 2008: Three weeks that changed the world
It was the year the neo-liberal economic orthodoxy that ran the world for 30 years suffered a heart attack of epic proportions. Not since 1929 has the financial community witnessed 12 months like it. Lehman Brothers went bankrupt. Merrill Lynch, AIG, Freddie Mac, Fannie Mae, HBOS, Royal Bank of Scotland, Bradford & Bingley, Fortis, Hypo and Alliance & Leicester all came within a whisker of doing so and had to be rescued.
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+21 +1
Finnish basic income pilot improved wellbeing, study finds
First major study of scheme comes as economic toll of coronavirus prompts fresh interest in idea
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+12 +1
Warren Buffett Questions the Need for Office Space
At Berkshire Hathaway’s annual meeting, Warren Buffett said the supply and demand for office space may change significantly.
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+22 +1
The Looming Bank Collapse
The U.S. financial system could be on the cusp of calamity. This time, we might not be able to save it.
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+4 +1
The time is right to reclaim the utopian ideas of Keynes – John Quiggin
Ifirst became an economist in the early 1970s, at a time when revolutionary change still seemed like an imminent possibility and when utopian ideas were everywhere, exemplified by the Situationist slogan of 1968: ‘Be realistic. Demand the impossible.’ Preferring to think in terms of the possible I was much influenced by an essay called ‘Economic Possibilities for our Grandchildren,’ written in 1930 by John Maynard Keynes, the great economist whose ideas still dominated economic policymaking at the time.
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+18 +1
Forget UBI, says an economist: It's time for universal basic jobs
Pavlina Tcherneva talks about "The Case for a Job Guarantee," and how public-sector work can pull us out of crises both immediate and long-term.
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+1 +1
Eco sustainable incentives for the Programmable Economy - It's TIME
Ecologically sustainable Economic Epochs / Time-Space Meter / Syntax Lexicon Rosetta Stone for the programmable economy USPTO 13/573,002 - Beacon-Heart
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+1 +1
Lithuania buys Washington’s trust
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+22 +1
The Gig Economy Is Failing. Say Hello to the Hustle Economy.
Unemployed teachers, cooks, dancers are turning to Patreon, Twitch, and OnlyFans
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+13 +1
Dissecting the Nobel: how Milgrom and Wilson changed the face of auctions
Their big contribution was that auctions aren't just auctions. How an auction is designed matters enormously for what it does.
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+19 +1
Machines to 'do half of all work tasks by 2025'
Half of all work tasks will be handled by machines by 2025 in a shift likely to worsen inequality, a World Economic Forum report has forecast. The think tank said a "robot revolution" would create 97 million jobs worldwide but destroy almost as many, leaving some communities at risk.
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+4 +1
Closing the racial wealth gap requires heavy, progressive taxation of wealth
Centuries of discrimination and exploitation have left Black Americans much poorer than white Americans. The median white household has a net worth 10 times that of the median Black household. If Black households held a share of the national wealth in proportion to their share of the U.S. population, it would amount to $12.68 trillion in household wealth, rather than the actual sum of $2.54 trillion. The total racial wealth gap, therefore, is $10.14 trillion.
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