economics

News flash: Trickle-down economics is a lie!

David Lazarus of the L.A. Times reminds us that trickle-down economics is a lie. Turns out Thatcher and Reagan got it totally backwards. Countless others haven’t figured it out 40 years later. Noteworthy quote: “compensation for American chief executives increased by 940% from 1978 to 2018, while pay for the average worker rose by a […]

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The bond vigilantes are coming! (Or not.)

Barron’s published this article about the imminent Debtageddon. Here’s a message I sent to the author: Mr. Forsyth, I read your article “Trump’s Budget Deal Shows Deficits Don’t Matter Anymore”. Others more qualified than I might rebut this article to some extent or other, but from my amateur perspective, you clearly misstated or misunderstand some

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Saving Capitalism: For the Many, Not the Few

In Saving Capitalism, author Robert Reich explores the myth of the “free market” and shows how it has been shaped by the wealthy and powerful to benefit themselves and increase income and wealth inequality. What we think of as the “market” is defined by the many rules governing property rights, corporations, bankruptcy, patents and trademarks,

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