Economists and financial experts have been telling us for years how great things are for U.S. workers and consumers. The stuff we buy is dirt cheap, and living standards are higher than ever. Wages are keeping pace with inflation. Inequality probably isn’t as bad as you’ve been led to believe. The stock market is booming! […]
It’s not thanks to capitalism that we’re living longer, but progressive politics
In recent years prominent pundits including Steven Pinker, Jordan Peterson and Bill Gates have invoked the progress in global life expectancies to defend capitalism against a growing tide of critics. Certainly there’s a lot to celebrate on this front. After all, average human life expectancy has improved a great deal. “Intellectuals are apt to do […]
U.N. warns that runaway inequality is destabilizing the world’s democracies
Runaway inequality is eroding trust in democratic societies and paving the way for authoritarian and nativist regimes to take root, according to a dire new report from the United Nations. The findings note that solutions — including robust social safety nets, an active redistribution of wealth and the protection of workers rights — “have been […]
The Great Affordability Crisis Breaking America
In the 2010s, the national unemployment rate dropped from a high of 9.9 percent to its current rate of just 3.5 percent. The economy expanded each and every year. Wages picked up for high-income workers as soon as the Great Recession ended, and picked up for lower-income workers in the second half of the decade. […]
How Private Equity Buried Payless
The financiers who had taken over Payless ShoeSource didn’t have much experience selling low-priced footwear, but they had big ideas about how things ought to be done. One was capitalizing on enthusiasm for the 2018 World Cup in the Latin American countries where the company had hundreds of stores. When they saw an opportunity to […]
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