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.
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Giving the Nod to Conglomerates
Europeans use the term "universal banks" to describe their all-purpose financial institutions. Germans, for example, have long
Japanese Bank Mergers - Bigger, Not Better
Japan will boast the largest bank in the world once the merger of three of its already very large — but
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
Creating a New Internationalism for Labor
More than 800 South African rubber workers employed by Germany's Continental Tire AG put down their tools for
The Wealth Gap Widens
During the 1920s, the wealthy accumulated such exorbitant stocks of cash, they couldn't spend it all. Instead, they
World Bank Bigwig Blames Economists for Bad Advice
The World Bank's chief economist took Western economists to task for their blind adherence to the market and