Paul Krugman is on a roll again, this time it’s about US inequality. Much of the discussion comes out of his 2008 paper ‘Trade and Wages, Reconsidered’. Here is the last paragraph: How can we quantify the actual effect of rising trade on wages? The a… more »

by Elliott R. Morss Editor's note: This is the second of two articles discussing the analysis of a study "The Way Forward", link below. Part 1 is here. Introduction In my last article, I wondered how the authors of The Way Forward could compl… more »

by Dirk Ehnts Today, Eurofound (don't ask) has published pay developments for the European Union, which includes euro zone members. Let's start with the results: Figure 1: Average nominal collectively agreed pay based on collective agreements databa… more »

by Guest Author Eduard Fischer So here we are at the cusp of another bear market, or some might call it the next leg down in a cyclical bear market. Or is it just a bull market correction? Why are stocks selling off and what is likely to happen nex… more »

It was obvious to those who understand Modern Money Theory that the set-up of the European Monetary Union was fatally flawed. We knew that the first serious financial and economic crisis would threaten its very existence. In a sense, it was from the beginning much like the US in 1929, on the eve of the Great Depression—with excessive lender fraud, household and business debt, and a boom that had run on too long. more »