economics
Taylor Berman · 10/14/13 06:43AM
Janet Yellen Is So Rich She Has More Than $100K in Her Checking Account
Hamilton Nolan · 10/09/13 10:10AMLacey Donohue · 09/23/13 10:10PM
Investment Advisors Are Worthless, The End
Hamilton Nolan · 09/23/13 03:58PMHamilton Nolan · 08/20/13 11:17AM
Yes, Wall Street Is Overpaid
Hamilton Nolan · 08/08/13 03:37PMUp until the Reagan years, workers in the finance sector of the economy were paid, on average, pretty close to what workers in most other industries were paid. That's all changed over the past 30 years. Do employees of the financial sector deserve to be paid so much more than most other workers? No.
The More Your Pension Fund Pays Wall Street, the Less You Get
Hamilton Nolan · 07/03/13 08:54AMThe highly paid money managers of Wall Street often point out that they're not just making money for themselves; they're helping to enrich the retirement funds of millions of state workers, just like you. False! A new study points out that the more Wall Street makes, the less your pension fund makes.
The Real Economy vs. The Wall Street Economy
Hamilton Nolan · 06/05/13 12:19PMObama's Trade Nominee Stashes Cash in Offshore Tax Haven
Hamilton Nolan · 06/04/13 04:13PMRegular People Are Only Halfway Recovered From the Recession
Hamilton Nolan · 05/30/13 03:43PM"The typical household has regained less than half [the wealth lost in the recession]," according to a new analysis by the St. Louis Fed. "That's far below the estimate in a Federal Reserve report in March that calculated that Americans as a whole had regained 91 percent of their losses." Uhhh... yeah.
Surprise: The Tax Code Mostly Benefits the Rich
Hamilton Nolan · 05/30/13 10:10AMHamilton Nolan · 05/29/13 11:49AM
We Need an International Minimum Wage
Hamilton Nolan · 05/22/13 12:02PMSlumburbia Is Real
Hamilton Nolan · 05/20/13 09:25AMFor years now, affluent (mostly white) Americans have been moving back into our nation's "inner cities," those once-scary locations populated only by forgotten minorities and a distinct lack of quality condo development. And poor people, in turn, have been decamping for the suburbs, those once-deluxe bastions of white flight. Slumburbia is no longer our future. It is our present.
'Too Big to Fail' Has Not Changed a Bit
Hamilton Nolan · 05/10/13 09:45AMA small handful of huge Wall Street banks are quite literally Too Big to Fail: the failure of any one of these institutions would rip such a large hole in the global economy that we'd all fall in and break our necks. In times of trouble, therefore, these banks will always, always, always be bailed out by the public— by you, and me, and your poor little grandma. We learned this the hard way during the last financial crisis. So what has changed since then? Nothing.
Harvard Prof Slams Keynesian Economics Because Keynes Was Gay
Max Rivlin-Nadler · 05/04/13 09:04AMHarvard professor and prominent Obama-critic Niall Ferguson told more than 500 financial advisers at a conference on Thursday that Keynesian economics, an economic philosophy that advocates stimulus spending and is not kind to the idea of empire (which Ferguson loves), is flawed because Keynes was gay and uninterested in future generations.
Americans Now Spending Millions of Dollars on Collectible Nickels
Caity Weaver · 04/26/13 05:43PMThe Part-Time Recovery Is Here To Stay
Max Rivlin-Nadler · 04/20/13 11:54AMIn March of this year, about 7.6 Million Americans were working involuntarily part-time, in that they would rather be working a full-time job instead of the part-time job they have either taken out of desperation or been forced into by their employer. These part-time jobs have fueled the 30-month economic recovery, leading to an unstable economy built on an increasingly uneven labor force.
A Sloppy Excel Error Might Have Messed Up the Way We Think About GDP
Maggie Lange · 04/16/13 01:46PMA new study reveals that one of the most cited economic principles regarding GDP and debt is most likely based on a "sloppy Excel coding error." According to a 2009 book by Carmen Reinhart and Kenneth Rogoff, This Time It's Different, countries with a high debt to GDP ratio have slow economic growth. But three economists at the University of Massachusetts have published a critique of Reinhart and Rogoff entitled: "Does High Public Debt Consistently Stifle Economic Growth?" They found a major and embarrassing error in the original calculations.