economics

The Capitalist's Plan to Prevent the Revolution 

Hamilton Nolan · 03/20/15 03:30PM

Paul Tudor Jones—whose net worth is $4.6 billion—is one of the most famous hedge fund managers in American history. He is a heavy donor to Republicans. And he is warning of the possibility of class-based revolution in America. Also, he has some ideas.

Where Inequality, Poverty, and Geography Meet

Hamilton Nolan · 11/19/14 02:21PM

American is an economically unequal country. It is also plagued by a great deal of poverty, particularly by the standards of rich, developed nations. Today, poverty and inequality are meeting in more American places than ever before.

The New Reign of the Top One Thousandth

Hamilton Nolan · 11/11/14 11:32AM

Ever since Thomas Piketty's coming out party, debate has raged in America over the implications of inequality of wealth and income. A new research paper shows just how much the extremely rich—the top tenth of the top 1%—have taken control since the 1980s.

Is The Stock Market Driven Mainly by Bullshit?

Hamilton Nolan · 10/20/14 09:41AM

Last week saw the stock market take its worst plunge in years, prompting fears that—after several years of uninterrupted good times—the economy may be ready to falter once again. Why the new fear on Wall Street? Could the reason be... imaginary bullshit?

Does Organized Labor Have a Future? Ask Stanley Aronowitz

Hamilton Nolan · 10/13/14 10:50AM

Economic inequality in America has reached staggering levels. Union membership has reached all time lows. What is the future of labor in America? Let's discuss it right now, with author and labor expert Stanley Aronowitz.

Poor People Do Not Just Blow Any Money They Get

Hamilton Nolan · 09/23/14 01:20PM

It's come to my attention that many of our readers believe that if you give anything more than a modest sum of money to a poor person, that person will just go out and waste the money on impulse purchases. Allow me to point out that this is false.

What Reparations in America Could Look Like

Hamilton Nolan · 09/22/14 12:30PM

Ta-Nehisi Coates made the case that America owes reparations to its black community. But he purposely left out the details of what a reparations program might look like. We will now make a proposal, for your consideration.

Is a Carbon Tax Really Too Expensive?

Hamilton Nolan · 09/03/14 10:22AM

Edward Lazear, a former economic adviser to George W. Bush, argues today that cutting carbon emissions enough to mitigate global warming is a lost cause, and we are better off pursuing a strategy of "adaptation" to a fiery new world. This is why pessimists should not be in charge.

What Rich People Mean By "Beneficial" Use of Capital

Hamilton Nolan · 06/03/14 09:22AM

These days, it's not enough to simply direct vitriol at the rich; you must put the offenses of the rich in the context of society as a whole. It's not just that they dedicate their lives to decadence in a sea of want; it's that they want credit for it.

Hamilton Nolan · 04/22/14 09:26AM

The unlikeliest publishing and economics news of the year: Thomas Piketty's new book, Capital in the Twenty-First Century, is so popular that it is sold out on Amazon, as well as in every fucking book store in NYC. Harvard University Press has yet to master supply and demand.

Adam Weinstein · 04/15/14 11:09AM

The Congressional Budget Office now says Obamacare will cost $104 billion less and cover millions more people than it previously estimated. Also, more employers are offering workers health coverage. Open-market-sustainable socialism is on the march, comrades!

Obama's Itty Bitty Teeny Tiny War on Inequality

Hamilton Nolan · 03/12/14 11:09AM

President Obama plans to use executive action to expand the number of American workers eligible for overtime pay. For those conservatives whose hackles are raised, take heart: Obama is tossing pebbles against a huge, advancing monster of inequality that may not be slain in this generation.

Hamilton Nolan · 01/06/14 11:00AM

A new survey finds that male economics Ph.D.'s who get married early in their careers see their salaries grow 25%, while females who do the same thing see their salaries shrink by 23%. You can't argue with the free market, I guess.