Private Equity’s Profit Charade
Private equity's seemingly high returns have been attributed to "freedom" from regulation. But, however explained, there is the question of how real the private equity profits have actually been.
The Private Equity Deception
Private equity firms are a risky place to invest and their reported returns can be misleading.
September/October 2025
Mamdani’s Municipal Socialist Inheritance
Buried in the historical record are the vibrant currents of municipal socialism that reshaped our urban worlds more than we acknowledge or even realize.
Latest
Interview: Municipal Socialism
An interview with Shel Stromquist on municipal socialism in the United States.
The Fed Versus Trump: How Much Does it Matter for Interest Rates Overall?
The Fed’s rate cut is likely to have little impact on mortgage interest rates. The reason is straightforward but rarely recognized in the abundant flow of commentary on Fed policy.
Driving Off a Cliff?
Donald Trump’s tariffs will make the U.S. auto industry less competitive and leave the industry out of step with the auto market's shift to EVs.
The Underestimated “Price of Parenting”
Even a low-ball estimate of the cost of time shows just how misleading an estimate based only on money expenditures really is.
More Babies or Better Care for Newborns?
Most so-called pronatalist policies seriously underestimate the costs and risks of raising children in today’s economic environment.
Trump Tariffs and Stagflation: Why TACO is the Least Bad Option
The first obvious step right now for fighting stagflation is for Trump to dump his tariff policies.
What’s Crypto Good For? Corruption, Exploitation, and Billions for Insiders
As with the subprime lending crisis, crypto appears to be more of an example of predatory inclusion than enhancing financial access.
How the Rich Got Richer
As more and more pass-through business income goes to the super-rich, the income share of the top 1% doubles.