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.
Latest news (Page 136)
Treasury Lacks Oversight Of Bailout Billions
Congressional investigators have discovered that some of the largest banks receiving U.S. taxpayer bailout funds have been lending billions
Renters Hit Hard In Foreclosure Crisis
Renters make up 40% of the people facing eviction because of foreclosure. Banks don't care if the tenants
A Couple of Items on the Bank Bailout
Here are a couple of items on the bank bailout that I've been meaning to post. First is
Ha-Joon Chang on Democracy Now
Cambridge University economist Ha-Joon Chang was on Democracy Now! today. (Hat-tip to Taki M.) We ran an online
Hey Econ Profs - Get Your Textbooks Here
An economist is walking down the street with a friend. The friend stops and says "Hey look, a $20
Several Links on Capitalism/Socialism
Here are some links that have crossed our virtual desks on the topic(s) (roughly) of capitalism's implosion,
Financial Times on 'The Future of Capitalism'
FT launches this new series today. The first day’s pieces dutifully concede that neoliberal policies with respect to the
Sen. Labor Committee Hearing on Abuse--TODAY
A press release from our friends at Interfaith Worker Justice, about a hearing this afternoon. Kim Bobo, author of Wage
More Craziness: Japan Runs Record CA Deficit
From The Financial Times: Japan in record current account deficit By Michiyo Nakamoto in Tokyo Financial Times Published: March 9
ADB: Asset Prices May Have Fallen $50 Trn
From The Financial Times: Plunging assets cost $50,000bn By Raphael Minder in Hong Kong and Alan Beattie in Washington
TDCotE (viii): The Use and Abuse of Trust
The Dull Compulsion of the Economic (viii) A series of blog postings by D&S collective member Larry Peterson