Author Archives: Yves Smith

Race to the Bottom: Cities and States Spend >$45 Billion Per Year Competing for Jobs

The Wall Street Journal published an important story on how states and communities throw money at companies via tax incentives and other gimmies in a desperate effort to win or hold jobs. These subsidies are a big drain on government budgets: Economic-development tax incentives more than tripled over the past 25 years, offsetting about 30% […]

The Canadian Establishment and Prime Minister Trudeau Aim at Ousting Foreign Minister Chrystia Freeland

Is Canada’s Foreign Minister Freeland, in a scandal over lying about her Nazi propagandist grandfather, being hung out to dry by the PM?

4 Charts on Wall Street’s Outsized Pay

Wall Street denizens whinge about embarrassingly rich pay packages.

Confirming Our Chicago Meetup Next Friday, March 24

I hope to see Chicago area readers next week at our meetup! Details here.

How Common Ownership is One Route to Social Transformation

Can changes in ownership rules tame the bad features of capitalism?

Links 3/16/17

Here Come the Robots: Your Job Is at Risk

How robots threaten jobs in emerging economies.

February Jobs Report: Hitting on All Cylinders but Wages

Economists and the Fed are declaring victory on jobs while merely delivering yet more stagnant real wages. Nicely played!

Mainstream, Pro-EU Rutte’s VVD Beats Populist, Anti-Immigration Wilders in Dutch Election

Far right winger Geert Wilders fails to cinch a win for his party in the Dutch election, contrary to polling in recent months.

Taxing Robots?

Contra Bill Gates, economists are not keen about taxing robots.

Links 3/15/17

Can Uber Ever Deliver? Part Nine: The 1990s Koch Funded Propaganda Program That is Uber’s True Origin Story

The perception that Uber is a competitive success comes from a recycled propaganda campaign.

Flint Official Escapes Imprisonment, Only Has to Write Apology Letter

The optics around a Flint water plea deal are not good.