Tag: Dubious statistics

Hubert Horan: Can Uber Ever Deliver? Part Twenty-One: Mike Isaac’s Book Ignores Economics and Financial Results and Gets the Uber Story Almost Entirely Wrong

By Hubert Horan, who has 40 years of experience in the management and regulation of transportation companies (primarily airlines). Horan has no financial links with any urban car service industry competitors, investors or regulators, or any firms that work on behalf of industry participants One of the recurring themes of this series has been the […]

Read More

Axios: What’s the Actual Cost of Not Addressing Climate Change?

Yves here. To put the cost of Sanders’ Green New Deal plan in context, it’s roughly what we spend on the US military when you throw in all the black budgets. Yet we somehow can’t afford to save the climate, particularly, as the article points out, the “cost” pays for itself? But sadly, as some […]

Read More

Is it Really “Full Employment”? Margins for Expansion in the US Economy in the Middle of 2019

Yves here. This post is particularly timely given the seeming disconnect between weak job creation but headline unemployment holding rock steady. We’ve described some of factors that make employment conditions less rosy than they seem, such as that job creation has overwhelmingly been in relatively low-skill, poorly paid positions, and that the level of involuntary […]

Read More

Hong Kong’s Economy Is Still Important to the Mainland, at Least Financially

Yves here. There’s a school of Hong Kong protestor critics that tries to depict them as sore losers over Hong Kong’s decline in status relative to mainland cities, particularly Shanghai. Some go further and charge that China doesn’t need Hong Kong. This article explains why those claims are exaggerated. By Alicia Garcia Herrero, the Chief […]

Read More

‘The Next Flint,’ and America’s Problem with Lead in Its Water

By Molly Enking, a news fellow at Grist. Originally published at Grist Tell me if you’ve heard this one before: A U.S. city is facing a public health crisis, after years of denying that it had a problem with lead in its drinking water supply. In 2016, that would have been a reference to Flint, […]

Read More

No, Productivity Does Not Explain Income

Yves here. Even though the mere use of the word “productivity” might lead readers to expect a wonky post, this is a highly accessible treatment when the argument is clearly stated. More like this, please. Mind you, that does not mean I find all elements of author Blair Fix’s argument equally convincing but the spare […]

Read More

What Plunging Global Semiconductor Sales Says About Autos, IT & How the Economy Reacts to Uncertainties

By Wolf Richter, publisher of Wolf Street. Originally published at Wolf Street Global chip sales plunged 16.8% in June from June last year, to $32.7 billion, on a three-month moving average basis, and are down 22% from the peak in October 2018, according to the World Semiconductor Trade Statistics today. As deepest and most relentless […]

Read More

The Military-Industrial Jobs Scam

Yves here. This is a very important post, documenting how despite defense contractor claims to the contrary, increased military spending has been accompanied by job losses in the US. This should come as no surprise. Military contracting is an exercise in pork, and regularly flagrantly disregards national security. A classic example: US uniforms and boots […]

Read More

The Trump White House Is Upending Decades of Policy-Making Procedures

By Stuart Shapiro, Professor of Planning and Public Policy, Rutgers University. Originally published at The Conversation Whether it’s overhauling asylum procedures, adding a question about citizenship to the 2020 Census, or rolling back fuel standards, a pattern has emerged when the Trump administration changes policies and creates new ones. An announcement is made, media attention […]

Read More

Facebook: Mark Zuckerberg’s Fake Accounts Ponzi Scheme

Yves here. We edited this post from a version to appear on Aaron Greenspan’s website. Lambert reordered it to make the likely magnitude of Facebook fake accounts the starting point, which we see as the most damning evidence against Facebook. Most people accept the proposition that Mark Zuckerberg is running a less than trustworthy business […]

Read More

Martin Wolf v. Trumponomics Whiffs Due to Fealty to Orthodoxy

There’s a lot not to like about what passes for Trump’s economic policy. But theFinancial Times Martin Wolf’s critique of it, in Donald Trump’s boom will prove to be hot air, leaves a lot to be desired. The fact that “boom” appears in the headline is a big tell. It’s a reasonable surmise that Trump […]

Read More

The Myth of Expansionary Austerity

By Christian Breuer, Junior Professor, Chemnitz University of Technology and Head of Wirtschaftsdienst and Intereconomics, zbw – the Leibniz Information Centre for Economics. Originally published at the Institute for New Economic Thinking website Many critics have sharply attacked orthodox economics, the International Monetary Fund, the European Central Bank, and policymakers for their emphasis on austerity […]

Read More

Should We Tax Wealth?

Yves here. I’m surprised that Richard Murphy skips over a key shortcoming with the notion of taxing wealth: the difficulty of valuing non-actively-traded assets. What is that racehorse, or private business, or piece of lakeshore land worth? Having more than occasionally been asked to value private companies, I have seen instances of huge differences between […]

Read More

Are Economists Blocking Progress on Climate Change?

By Servaas Storm, Senior Lecturer of Economics, Delft University of Technology. Originally published at the Institute for New Economic Thinking website Dutch economist Servaas Storm, co- author of a widely-read 2018 study on climate change, “Why Green Growth is an Illusion,” talks to the Institute for New Economic Thinking about where we are today. Lynn […]

Read More

What Is a ‘Climate Refugee’ and How Many Are There?

Yves here. The Pentagon was anticipating large-scale climate-change induced migration and resulting conflicts in its scenario planning starting in the early 2000s. Wonder why they didn’t make noise about it then. By Eve Andrews, who writes Ask Umbra, Grist’s civic advice vertical. Follow her on Twitter: @eefandrews. Originally published at Grist Q. Dear Umbra, How […]

Read More

Boeing Sells 0 Planes on First Day of Paris Air Show v. 123 for Airbus, Yet Boeing Still Pushing for More Weakening of FAA Standards Via Greater Use of Computer Testing

Boeing execs must be smoking something very strong. The manufacturer first tried blaming pilots for its two 737 Max crashes, even after groundings by airline regulators showed they thought something was wrong with the plane. Even as of this week, CEO Dennis Muilenberg has only gone as far as admitting to being “not consistent” in […]

Read More

The Inverted Yield Curve

Yves here. As the old saying goes, “The yield curve predicted nine of the last five recessions.” By Inês Gonçalves Raposo, an Affiliate Fellow at Bruegel who previously worked for the Financial Stability Department of the Bank of Portugal. Originally published at Bruegel Longer-term yields falling below shorter-term yields have historically preceded recessions. Last week, […]

Read More

Economic Growth: A Short History of a Controversial Idea

By Gareth Dale, who teaches at Brunel University. He publishes occasionally in The Ecologist. This article includes passages from previously published texts, including ‘The tide is rising, don’t rock the boat!’ Economic growth and the legitimation of inequality (2018), Seventeenth century origins of the growth paradigm (2017), and The growth paradigm: A critique (2012). Originally […]

Read More

Forget Lower Jobs Growth, The Number of People Who’ve Stopped Looking for Work Is Much More Worrisome

Yves here. This article helps debunk the idea that the low headline unemployment numbers mean the jobs market is strong. In addition to continued poor labor force participation, involuntary part time employment is also high. By Michael Klein, Professor of International Economic Affairs, Fletcher School, Tufts University. Originally published at openDemocracy The latest jobs report […]

Read More