The Alienation of Work

April 26th, 2014
in Op Ed

by Charles Hugh Smith, Of Two Minds

The emerging economy is opening up new ways to reconnect workers to their work and the profits from their work.

One of the most striking blind spots in our collective angst over the lack of jobs is our apparent disinterest in the nature of work and how work creates value. This disinterest is reflected in a number of conventional assumptions.

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Watch Corporations Strip-Mine their Future (and Ours)

April 25th, 2014
in Op Ed

by Fabius Maximus, FabiusMaximus.com

Summary: Al Qaeda (Bin Laden's organization, if it still exists in meaningful form) is a threat to America. A greater threat are our CEO's, some of whom who have discovered discovered a formula to vast personal wealth: leverage the company up (borrow), use those funds to buy back stock (boosting earnings per share), cut capital expenditures (capex) to boost short-term profits, pay most of the profits in dividends - all of which disguises massive payouts to senior managers (via salary, benefits, pensions, golden parachutes, grants of stock and stock options, etc). They're strip-mining away America's future. Slowly people begin to fit these pieces together. Today we help you to do so.

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Economics, Education and Unlearning

April 25th, 2014
in Op Ed

by Dirk Ehnts, Econoblog101

The Post-Crash Economics Society (PCES) has published its 'compelling analysis of the failings in economics education and set out a road map for reform.' The forword is written by Andrew Haldane, who is executive director for financial stability at the Bank of England. I agree with most of it, but think that some parts are worthy of being discussed in more detail. Often, it is exactly those discussions that we do not have that are the most interesting. Blogs are a great way to at least leave a record for those interested in controversies of the time. Let me discuss two points raised in the forword, which spins around the work of Adam Smith.

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Rescuing the 1%

April 24th, 2014
in Op Ed

by J.D. Alt, New Economic Perspectives

In an earlier essay I suggested we just forget the 1%. This was an idea not entirely supported by the commentary that followed. On reflection, I've decided it isn't the right approach after all. What we really need to do is rescue the 1%.

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Only in Economics: When Data and Theory Disagree, Change the Data

April 24th, 2014
in Op Ed

The Whole World Runs A Capitalism, Macro-Economic "Barro" Experiment, And The Results Come Out Opposite To Theory

by Roger Erickson

This is just astounding. Was there ever another peep from Barro?

Bill Mitchell Unearths Yet More Options [not taken] for Europe

If this occurred in the field of physics - or any other science/engineering field - they'd IMMEDIATELY change the theory ... to fit experimental facts.

But not us!!! We just pretend it never happened, and try twice as hard to make the failed experiment-on-ourselves work "right" - right?

Read more »





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