Outsourcing State and Local Government Services is About Looting

For decades, citizens have been sold on the mantra that the hungry private sector can do a better and cheaper job of providing services than “inefficient” government. Now it is true that there were some badly run government entities that have done better when privatized (the poster child is British Telecom).

New Study Confirms that Lower Corporate Tax Rates Don’t Create Jobs

by Yves Smith, Naked Capitalism Corporate executives love to peddle the notion that they need to have their low tax payments reduced even further, even as the share of GDP represented by company profits is at unprecedentedly high levels. In fact, corporations paid between 5% and 6% of GDP in taxes in the early 1950 …

Economic Zeitgeist

The Ideology to End Ideologies – A Response to Corey Robin on Nietzsche, Hayek, Mises, and Marginalism by Philip Pilkington This article was first published by Naked Capitalism (May 13, 2013) Editor’s Note: Econintersect considers this a fundamentally important discussion of the philosophical underpinnings of 20th and 21st century economic thinking.  It is contentious, to …

U.S. Student Debt is Blowing Up

by Philip Pilkington, from Naked Capitalism Perhaps the most obvious indicator that the U.S. has become a society of debtors is the ever-expanding market for student loans. Recently clocked at $870 billion and rising quickly, this market has been a focal point for the recent Occupy movements. The White House knows that this is a …

What Does a Foreclosure Moratorium Mean for the Housing Market?

A foreclosure moratorium could have a complex effect on residential real estate markets. Housing sales could decline but prices could rise at first. Later sales could rebound and prices drop.