The destruction of the middle class Archives - Page 115 of 191

MIchael Hudson: The Slow Crash

Michael Hudson discusses some of his favorite themes; debt deflation, the high cost of consumer debt, negative interest rates.

Brexit: The Crisis Begins

The Brexit vote was a stunning repudiation of neoliberalism and austerity. But what comes next?

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….

How Financial Crises Produce Political Polarization

Financial crises move the struggles between debtors and creditors into the political sphere.

Unequal Gains: American Growth and Inequality Since 1700

American history suggests that inequality is not driven by some fundamental law of capitalist development, but rather by episodic shifts in five basic forces: demography, education policy, trade competition, financial regulation policy, and labour-saving technological change.

Wolf Richter: These Debt Slaves are the Government’s Largest Asset Class, and It Will Haunt the Economy for Years

Student debt isn’t just a millstone around young people’s necks; it’s weighing down the economy.

Elizabeth Warren Slams SEC’s Mary Jo White for Putting “Information Overload” Project Ahead of Dodd Frank Rulemaking

Elizabeth Warren and Mary Jo White cross swords again…but how effective can Warren be after she hitches her star to Clinton?

And Now, Price Deflation in India and China?

Price deflation, and classic debt deflation dynamics, are staring to appear in India and China.

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.