Tag: Dubious statistics

What Truck Drivers Say about “Driver Shortage” & Pay Increases

Yves here. Of course, one then wonders how many of the other worker shortage stories are exaggerated. And remember that profits have been at record levels as a percentage of GDP, so the idea that most companies can’t pay more is spurious. By Wolf Richter, a San Francisco based executive, entrepreneur, start up specialist, and […]

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Why the Green New Deal Is the Stuff of Fantasyland

Yves here. I’ve been disappointed by the cheerleading over the Green New Deal. Its claim is that if we mobilize enough resources, we can convert to a renewable-energy-based economy and arrest the rise in greenhouse gases soon enough to prevent the worst global warming outcomes. That might have worked if we had started 20 years […]

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$15 Minimum Wage: Job Killer or Path Out of Poverty?

This Real News Network segment sets forth the most common arguments against increasing the minimum wage to $15 an hour, or alternatively, a living wage level, and shows why they don’t hold up to scrutiny. A decent minimum wage is even more important when the supposedly robust US economy is increasingly creating McJobs. JAISAL NOOR: […]

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Richard Murphy: Davos Wants a Better Measure of Failure

Yves here. Unfortunately, the Davos man is still very much with us. And now they want us to think that they care. Gah. By Richard Murphy, a chartered accountant and a political economist. He has been described by the Guardian newspaper as an “anti-poverty campaigner and tax expert”. He is Professor of Practice in International Political Economy […]

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Piketty’s World Inequality Review: A Critical Analysis

Yves here. It’s surprising to see Piketty and even more so, one of this co-authors, Gabriel Zucman, make such strong claims for tax data as a way to measure income inequality. The rich and super rich engage in tax avoidance and evasion, to the degree that Zucman has estimated that 6% of the world’s wealth […]

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Christmas Hucksterism: The Last Mile of the Supply Chain is Safer Than You Think

By Lambert Strether of Corrente. Last week, I ran a video on “package thieves,” in which YouTube personality, “ex-NASA brain,” and putatively high net-worth individual Mark Rober created a “glitter bomb revenge package,” which harmlessly exploded when a thief apparently stole a package from his porch. Here’s the video, which naturally went viral (“If you […]

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Michael Hudson: The Vocabulary of Economic Deception

Originally published at Michael Hudson’s website This is Guns and Butter, October 8, 2018. The aim of classical economics was to tax unearned income, not wages and profits. The tax burden was to fall on the landlord class first and foremost, then on monopolists and bankers. The result was to be a circular flow in […]

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The UK’s Reform of Limited Partnership Law: Dead on Arrival (II)

British company structures which hide the identity of those behind them were branded a disgrace by the whistleblower who brought to light an alleged 200 billion euro (178 billion pounds) money laundering scandal involving Danske Bank (DANSKE.CO). “The role of the United Kingdom is an absolute disgrace. Limited liability partnerships and Scottish [limited] partnerships have […]

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The UK’s Reform of Limited Partnership Law: Dead on Arrival (I)

“Scottish Limited Partnerships are used by thousands of legitimate British businesses – from pension schemes to owning farm land in Scotland – to invest more than £30 billion in the UK a year. We have seen mounting evidence that in their current form they are vulnerable to abuse. Last year it emerged more than 100 […]

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Do Climate Policies ‘Kill jobs’? An Economist on Why They Don’t Cause Massive Unemployment

Yves here. I don’t mean to sound churlish, but this article considers the sort of orthodox “green growth” policies that are inadequate do address the magnitude of changes we need to make merely to reduce how fast and catastrophic climate-change and population-induced damage to the biosphere occurs. From Why “Green Growth” Is an Illusion: Our […]

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The Inconvenient Truth about Climate Change and the Economy

By Gregor Semieniuk, Lecturer in Economics, SOAS, University of London and Associate Research Faculty, Science Policy Unit (SPRU), University of Sussex; Lance Taylor, Arnhold Professor of International Cooperation and Development, New School for Social Research; and Armon Rezai, Assistant Professor, Environmental Economics, Vienna University of Economics and Business. Originally published at the Institute for New […]

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Why “Green Growth” Is an Illusion

By Enno Schröder, Economist and Servaas Storm, Senior Lecturer of Economics, Delft University of Technology. Originally published at the Institute for New Economic Thinking website Sounding the Alarm on Global Warming If the Paris climate agreement of December 2015—the so-called COP21 —provided cause for optimism that, after years of fruitless diplomatic squabbling, coordinated global action to […]

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Machine Learning and Economics

Yves here. I hate sounding like a skeptic, but how well machine learning and AI do depends very much on data integrity and data selection, such as which training sets you use for AI. Economics has such a strong track record of being not at all good with empirical research and ideologically driven that machine […]

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How Economists Impede Addressing Climate Change

On a recent post, some readers recoiled at the idea of putting a monetary value on human life. Yet that happens all the time. Courts come up with damages for injuries and wrongful deaths. Younger people with high earnings are more “valuable” than other people. And remember the Pinto? Companies similarly put a value on […]

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Our New Yorker Article: “Fake ‘Unicorns’ Are Running Roughshod Over the Venture Capital Industry”

Our new article is a revisitation of an important study on so-called venture capital unicorns that we posted on last year. Our immediate reason was that the article didn’t appear to have the impact that it warranted, so we wanted to do our little bit to help. But as you’ll see, the study had bigger […]

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Is This Time Different? Examining Recent Emerging-Market Turbulence

By Dr. Marek Dabrowski, a Non-Resident Scholar at Bruegel, Professor at the Higher School of Economics in Moscow, co-founder and Fellow at CASE – Center for Social and Economic Research in Warsaw and Member of the Scientific Council of the E.T. Gaidar Institute for Economic Policy in Moscow. Originally published at Bruegel Since the beginning […]

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Trump and the Midterms: Is It Not The Economy, Stupid?

By Barkley Rosser, Professor of Economics at James Madison University in Harrisonburg, Virginia. Originally published at EconoSpeak On many Mondays I indulge in taking Robert J. Samuelson to task after his regular Washington Post column of the day.  Today he was almost right, or if you prefer, even mostly right.  This one was titled “It’s […]

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Stock Markets Do Not Create Value

By Richard Murphy, a chartered accountant and a political economist. He has been described by the Guardian newspaper as an “anti-poverty campaigner and tax expert”. He is Professor of Practice in International Political Economy at City University, London and Director of Tax Research UK. He is a non-executive director of Cambridge Econometrics. He is a member of […]

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Former Health Insurance Executive Debunks Trump Attacks on Single Payer

Yves here. This Real News Network interview with former Cigna executive Wendell Potter, who among other things now heads Tarbell.org, a site that investigates money in politics, provided a point-by-point takedown of the factually-challenged criticisms Trump has made of single payer. The fact that this rebuttal comes from a former health industry insider may make […]

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