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 138)
Feb. Unemployment tops 8%...
...and December's figure revised, making it the worst reading since 1949. From Reuters: U.S. February payrolls fall
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Via Corbin Hair at The Nation: In this interview with Robert Johnson, the former chief economist for the Senate Banking
Can My Boss Do That?
We received a press release from the good folks at Interfaith Worker Justice in Chicago. They had a conference call
Unemployment (Including Closures and Layoffs)
Two more unemployment items: * The unemployment rate in our fair commonwealth, Massachusetts, went over 7% for the first time in
Citi and GM Deathwatch
Citibank has now joined the ranks of the penny stocks. In 2006 the stock was trading at $55.70 and
Two Items on the Employee Free Choice Act
Economist Dani Rodrik had this nice post on his blog last week: What do Philippe Aghion and Dean Baker have
WSJ and Hightower on Wall Street Compensation
The bonuses and compensation at Merrill Lynch are front-page news in today's Wall Street Journal; here'
NYT Missing It on Women's Paychecks
From D&S collective member Amy Benjamin: The gender gap in pay is as persistent as ever, according to
OECD: Downturn Deeper than IMF Forecast
From Reuters: By Brian Love PARIS (Reuters) - The global economic downturn will be considerably deeper than even the International Monetary
The Costs of Hoarding at Elite Universities
Interesting article from BusinessWeek about finance in higher ed. Hat-tip to Bob F. Academic Endowments: The Curse of Hoarded
Costs of the Cuba Embargo--to the U.S.
There was a little bit of Cuba news today; the New York Times has an article about sightings of Fidel
Prisons: Pew on U.S., Monbiot on U.K.
Lots of prison news today. On the U.S. prison boom, a new study from the Pew Center on the