America’s Coming Water Affordability Crisis
A symptom of pressure on water quality and supply: over 40 million American citizens may be unable to afford water in the next five years.
Read more...Category Archives: Infrastructure
How The Bond Buyer Hyped a Goldman Ripoff of DC Water as “Deal of the Year”
Municipal bond publication The Bond Buyer gives itself a black eye by touting a ripoff of a sewer and water authority as a good deal.
Read more...Yet Another Glaring Flaw With Trump Infrastructure Plan: Dependence on Vagaries of Tiny, Slow-Moving Tax Equity Market
The oh-so-clever Trump plan to use tax credits to fund infrastructure spending means it will be too small and slow to provide any real boost.
Read more...Progressives Need to Promote Deficit Spending Before Trump Makes It His Baby
The failure to do enough deficit spending is a big reason why the Democrats hemorrhaged losses. Progressives need to take up this issue.
Read more...Capitalism in the Time of Trump?
Neoliberal capitalism has led to underinvestment, lowering productivity and increasing inequality. Will Trump make things better or worse?
Read more...Donald Trump: “My 100-Day Action Plan”
A look at Trump’s major proposals.
Read more...Why Economic Recovery Requires Rethinking Capitalism
Capitalism needs a dose of socialism, aka public works. Mission-oriented public investment is vital to revive private-sector investment.
Read more...Self-Driving Cars: Will the Dogs Eat the Dog Food?
Ethical problems inherent in programming self-driving cars could make them hard to market.
Read more...Japan Isn’t Playing Neoliberalism’s Word Games
Has the progressive left in western democracies forgotten how to embrace the mainstream? When I compare the approach which anti-neoliberal causes take in the U.S. and Europe with the approach taken by the same causes in Asian countries, especially Japan, I can only say yes, it has. One explanation for how pro-labor movements have been […]
Read more...A New Low: The New York Times’ Children’s Bedtime Story of Private Equity
The New York Times wraps up a feeble yet costly series on private equity with a cringe-maknig slide show.
Read more...Bill Black and Stephanie Kelton: Is it Time for a New Deal Federal Jobs Program?
On the need for New Deal levels of spending on national priorities and the myths and political grifting that prevent it.
Read more...IMF Warns That Inequality, Poverty, Low Productivity Growth, Falling Workforce Participation Will Drag on US Growth
The IMF has become an unlikely reporter of unpleasant realities about the US economy, particularly the costs of inequality and distress. If only its prescriptions were better….
Read more...North Carolina Threatens to Cancel Toll Road Project, Showing Political Risk of Infrastructure Deals
North Carolina’s House has voted to exit a toll road deal despite high expected cancellation costs.
Read more...Cyber Risk as Systemic Risk
The threat to the financial system posed by cyber risk is often claimed to be systemic. This column argues against this, pointing out that almost all cyber risk is microprudential. For a cyber attack to lead to a systemic crisis, it would need to be timed impeccably to coincide with other non-cyber events that undermine confidence in the financial system and the authorities. The only actors with enough resources to affect such an event are large sovereign states, and they could likely create the required uncertainty through simpler, financial means.
Read more...Artificial Intelligence and Employment
The substitution of human labour by artificial intelligence and robots is a keenly debated topic. Some claim that a substantial share of jobs is at risk, while others argue that computers and robots will lead to product innovations and hence to unimaginable new occupations. This column uses a survey of Japanese firms to examine the impact of AI-related technologies on business and employment. Overall, firms expect a positive impact on business but a negative impact on employment. Firms with a highly skilled workforce, however, have a more optimistic view than firms with lower skilled employees.
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