By Steve Roth (reposted) How Amazon’s Accounting Makes Rich People’s Income Invisible Increasingly, businesses don’t generate profits. They generate capital gains. It’s fiendishly clever. Image you’re Jeff Bezos, circa 1998. You’re building a company (Amazon) that stands to make you and your compatriots vastly rich. But looking forward, you see a problem: if your company […]

by Joseph Joyce After the Global Financial Crisis: Are We Safe Now? A decade after the global financial crisis the global economy seems (finally) to be enjoying a robust recovery. Economic growth is widespread and includes increased expenditures on investment, a sign that business firms expect continuing demand for their products. With the crisis finally […]

Via Marketwatch Jamie Galbraith states his thoughts on a how the current US economy functions.  Here are a few snippets: University of Texas economist Galbraith, the son of the famous Harvard economist John Kenneth Galbraith, believes mainstream economists and the Federal Reserve are too wedded to old ideas to see what is really going on […]

Via Alternet: 4 Ways Martin Luther King Was More Radical Than You Thought The slain civil rights leader was a critic of capitalism, the Vietnam War, and championed reproductive rights. By Igor Volsky / ThinkProgress January 20, 2014, 7:32 AM GMT Every January, Martin Luther King, Jr. is universally honored as a national hero who […]

Lest we forget: David Dayen’s Weekly Newsletter Politico notes today that the 90-day emergency declared actually ends in a couple weeks, and we’re in essentially the same place that we were before the declaration. Trump has not formally proposed any new resources or spending, typically the starting point for any emergency response. He promised to roll […]

By Steve Roth    (re posted) Why Economists Don’t Know How to Think about Wealth (or Profits) Until 2006, they quite literally weren’t playing with a full (accounting) deck. Most still aren’t In the next evolution of economics taking shape around us and among us, perhaps no school has been so transformational over recent decades as a loose, worldwide […]