Category Archives: Economics

I’m Going With “Economic Elite Domination”

There’s a very interesting post by Larry Bartels about a recent political science paper that examines which groups in the U.S. succeed in the political system. You’ll never guess what happened next! A forthcoming article in Perspectives on Politics by … Continue reading

Posted in Bidness, Economics, I For One Welcome Our Austerity Overlords | 5 Comments

No, the U.S. Can’t Run Out of Money (And What This Means for Scientists)

Dylan Matthews, now of Vox, tweeted the obvious: We have taxes to encourage public use of fiat money, control inflation, and discourage harmful behaviors. Not bc we "need" the money. — Dylan Matthews (@dylanmatt) March 27, 2014 To his credit, … Continue reading

Posted in Economics, Funding | Leave a comment

Inequality Is a Symptom, Not the Disease

Or diseases, plural. Lane Kenworthy notes that the data are mixed when it comes to the effect of inequality: The evidence supports a number of the most prominent hypotheses only weakly or not at all. As best I can tell … Continue reading

Posted in Economics, Uncategorized | 5 Comments

All of Our Economic Gall Can Be Divided Into Three Parts

And these three parts are not equal to each other. Sarah Jaffe notes (boldface mine): It is probably safe to say that journalists, outside a small but dedicated cadre of labor reporters, have talked to more minimum-wage workers in the … Continue reading

Posted in Economics | 2 Comments

There Aren’t Enough ‘Good’ Jobs

A while ago, I noted what should be obvious about poverty-level wages: as long as there is a job that does not pay a living wage, one of us will have to fill it. There’s a flip side to that … Continue reading

Posted in Basic Human Decency, Economics, Jobs | Leave a comment

RadioShack, Woolworth’s, and Farriers

Sadly, RadioShack, once an American business landmark, is on the ropes: Back when stereo was cutting-edge, RadioShack sold hi-fis driven by a smooth diamond stylus at one end, cloth-covered speakers at the other and a warm, glowing tube amp in … Continue reading

Posted in Economics | 8 Comments

Yes, People Have to Like This Crap

Outsourced to Josh Barro: The one period of really robust wage growth in the last 40 years was the late 1990s, when the labor market was tight and workers could effectively demand higher wages in exchange for their labor. Fiscal … Continue reading

Posted in Economics

Yes, We Need a Living Wage

In an article about sex workers in The Nation, we stumble across the following (boldface mine): When we say that sex work is service work, we don’t say that just to sanitize or elevate the status of sex workers, but … Continue reading

Posted in Economics, Let's Talk About Sex, Baby

NIH Cuts and Science Job Losses

Jeremy Berg lays out what the failure to replace the sequestration cuts at NIH means: Also, based on previous years, we can reason that about 30 percent of those who would have been funded without the sequester would have been … Continue reading

Posted in Economics, Funding, I For One Welcome Our Austerity Overlords, NIH | 2 Comments

A Pessimist’s View As To Why Bitcoin Is Not a Currency

Despite Bitcoin being called a currency, what gets lost about Bitcoin is that it’s a commodity–like gold or tulips), whereas a sovereign currency, such as the dollar, is what you use to pay your debt to the government (also known … Continue reading

Posted in Economics | 8 Comments