China has become the world’s leading billionaire factory, producing more new billionaires in 2014 than any other country. But the powerful billionaires who run China do not want to live there.
You don’t have to buy the theories in Thomas Piketty’s Capital in the Twenty-First Century to use his data. And those data show that the United States has become a model for maldistribution.
Making the market “decisive” means that the Chinese government has decided to place profits before people — and even before that previously invincible talisman, economic growth.
A new kind of social disease has spread from recession in the United States to austerity in Europe to manufactured crisis in Australia. Tenured and emeritus academics should be hoisting the banner of civilization, raising the battle-cry for justice.
If Europe successfully implements a financial transactions tax (FTT), it will demonstrate that it is possible to make banks pay for the privilege of trading financial instruments like stocks, bonds, and derivatives.
This year’s fast GDP growth underlines one of the great myths of economic statistics: the myth that growth benefits everyone, or at least most people.
Fox News may have failed to have an impact on the outcome of the 2012 Presidential election in the United States, but media organizations controlled by Rupert Murdoch celebrated a victory this year in Australia.
Call their bluff. Take the plunge. Go over the cliff. Let the government default on its bonds.
People need jobs. Put them to work. It’s that simple.
Is $15 an hour really a fair wage for serving fast food? Is it reasonable? Is it affordable? In a word: YES.