Gorz: “The Right to an Income and the Right to Work,” part one From “Orientations and Proposals — The Reduction of Working Time: Issues and Policies” of Andre Gorz’s Critique of Economic Reason (1989) translated by Gillian Handyside and Chris Turner. I am posting the section on “The Right to an Income and the Right to Work” […]
Dear Professor Krugman, Say Its Name!!! “Taboo” Paul Krugman is coming closer to embracing my “taboo” argument. A month ago I wrote that raising wages was becoming a taboo. I considered three alternative hypotheses: 1. monopsony (quoting Vox) [I]n recent years, economists have discovered another source: the growth of the labor market power of employers — namely, their […]
by Cactusman H-2B, or Not to Be? A Look at Labor Shortages and Immigrant Labor Several publications recently ran stories on issues with the H-2B visa program and impending shortages that are affecting local economies of various parts of the country. For those who aren’t familiar, the H-2B program allows US employers to bring in […]
Dan here….Downsizing the home when retiring? How is that done? Anecdotal evidence in the Boston area reveals to me several reasons why downsizing is only a small percentage of the housing market: Aside from being able to handle maintenance to a later age than in the past, and wishing to maintain personal community that a […]
by Joseph Joyce A Guide to the (Financial) Universe: Part III Parts I and II of this Guide appear here and here. 4. Stability and Growth Is the global financial system safer a decade after the last crisis? The response to the crisis by central banks, regulatory agencies and international financial institutions has increased the resiliency […]
The percentage of employees who don’t get wage raises; is the Taboo undergoing an “extinction burst”? I came across the below graph yesterday from the Kansas City Fed. It’s pretty shocking: It represents “wage rigidity.” In english, that means the percentage of employees who don’t get any annual wage increases. It speaks for itself. Nine […]
Intercompany Guarantee Fees and Trump’s Lido City Loan Matthew Yglesias notes: Trump stands to gain from an Indonesian project that got a $500 million loan right before he flip-flopped on ZTE… But it also happened the same week a Chinese state-owned company came through with hundreds of millions of dollars in loans, some of which will […]
R.I.P. bond bull market, 1981-2016 On September 30, 1981, the 10 year US Treasury bond yielded 15.84%. It has not been that high since. On July 8, 2016, it fetched only 1.37%. It is unlikely to see that low rate again for a very, very long time. Those two dates likely mark the birth and […]
ZTE and the Iran Nuclear Deal The whiplash that many observers have felt on learning of President Trump’s about-face on China’s ZTE telecom company from condemning it as violating US national security and violating sanctions rules by selling to North Korea and Iran has been pretty easily explained by our soon thereafter learning that China […]
Angry Bear made the list again on the Intelligent Economist list of top blogs. We are listed in the general category seventh from the top. I see some new names on the list. Congratulations to all contributors for making a fine publication. The Angry Bear is a multi-author blog. Each author has his or her […]