The Plutonomy—AI Edition—and the Coming Crisis
Driven by speculative finance, stagnant wages, and AI hype, today’s tech-heavy economy mirrors the fragile plutonomy that collapsed into the Great Crash of 1929.
73 articles
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Dear Dr. Dollar:
Who cares if Bear Stearns fails? Or the Carlyle Group? Or Merrill Lynch? Or one of the other big financial companies? They've made their profits. So what's the problem? --Julia Willebrand, New York, N.Y.
Dear Dr. Dollar:
Doesn't all the war spending stimulate the economy? And shouldn't the Bush tax cuts do the same? So why are we falling into recession? --Caitlin Young, Whitehall, NY
Dear Dr. Dollar:
Some of my friends believe that the Federal Reserve and international bankers (Rothschilds, Rockefellers, etc.) run the world. They think the Federal Reserve was formed in secret and is pretty much a conspiracy. This is all hooked up with other conspiracy theories and rightwing views that make me un
New Man at the World Bank
Widely known as the architect of one of the most controversial U.S. wars, he became a symbol of an
Is It Oil?
Before U.S. forces invaded Iraq, the United Nations inspection team that had been searching the country for weapons of
Dear Dr. Dollar:
The media constantly report that “there is a growing disparity of wealth,” and as far as I know this is true. But I would like to know why I should care. For all those who say it is important, I have a simple question: Would you rather live in a country where the poorest 20% average $10,000 while th
Dear Dr. Dollar:
Each year the U.S. has huge trade imbalances, especially with Asian countries. How can we keep having these trade deficits without any apparent ill effect on our economy? Will we eventually no longer be able to do this? —David J. Harrowe, Chandler, Ariz.
Dear Dr. Dollar:
How much does the U.S. government spend on NATO and on the United Nations? Can you itemize these sums? —Dave Muller, Denver, Colorado
Dear Dr. Dollar:
The media constantly report that "there is a growing disparity of wealth," and as far as I know this is true. But I would like to know why I should care. For all those who say it is important, I have a simple question: Would you rather live in a country where the poorest 20% average $10,000 while th
Dear Dr. Dollar:
It’s conventional wisdom that when wages go up, as in the case of a union campaign or minimum wage increase, prices go up. My guess is that if the owners could have raised the prices, they would have already. What is the right answer? —Jeffrey Trivers, New Orleans
Dear Dr. Dollar:
Why do companies compensate CEOs with such high salaries and bonuses? Do the CEOs themselves decide on their pay? Isn't it always said that no one is indispensable? —Gwen Nottingham, Laurel, Montana