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Posts Tagged ‘economics’

Signs that China’s real-estate bubble will burst and take the economy with it

China's real-estate bubble is the largest in human history, and despite years of warning signs, it has grown and grown, spilling over into the rest of the world.

It's hard to overstate just how crazy China's real-estate market is: 25% of the country's GDP comes from construction, and 80% of the nation's ...

Thomas Piketty explains how Elizabeth Warren’s wealth tax is American as apple pie

Last month, Democratic presidential hopeful Elizabeth Warren proposed an annual tax on the largest fortunes in America, with some of the cash generated by the tax being funneled into the IRS to catch dodgers who move or hide their money to escape the tax.

The Warren proposal was modelled on the work of French economist ...

Bill Gates debates Alexandria Ocasio-Cortez ‘tax the rich’ policy

Microsoft co-founder Bill Gates made some comments this week on the 'tax the rich' ideas making the rounds in America.

Taxing the rich is fine, he said in an interview with The Verge, and "more progressive" taxes on the ultra rich are okay.

Gates then went on to characterize Alexandria Ocasio-Cortez as an 'extreme' politician ...

If you work for a living, America taxes you at double the rate of wealthy investors with “unearned income”

Starting in the early 1990s with a Democratic Congress (and continued by other congresses, Republican and Democrat, since), the rate of tax on "passive, unearned income" has been in decline, but someone has to pay to keep Uncle Sam's lights on, so the tax on workers' wages have diverged, until today, when the tax bite ...

The Curse of Bigness: Tim Wu channels Brandeis on Big Tech (and Big Everything Else)

Tim Wu (previously) is best known for coining the term "Net Neutrality" but the way he got there was through antitrust and competition scholarship: in his latest book, The Curse of Bigness: Antitrust in the New Gilded Age, Wu takes a sprightly-yet-maddening tour through the history of competition policy in the USA, which ...

Rethinking Capitalism: like the Feynman lectures but for economics

From 1961-1963 Richard Feynman -- one of the preeminent physicsts of his day -- taught an undergraduate class in physics at Cal Tech, a gig that was nominally well below his paygrade, and gave such a virtuoso performance that "They Feynman Lectures" have gone down in the annals of physics history as some of ...

Another day, another reversal in the stock market

Signs that the Federal Reserve could hold off on further interest rate hikes coupled with a booming jobs report sent stocks on Wall Street surging to close a volatile first trading week for the New Year. After yesterday’s Apple-induced slide, and in the face of economic indicators that signaled a potential slowdown in global and ...

Trustbusting is now a bipartisan issue

Ronald Reagan may be sainted by the right, but 2018 was the year conservatives broke with his slavish, simpleminded adherence to the Chicago School antitrust theory that says that governments should only regulate monopolies when they give rise to higher consumer prices -- it's also the year the right realized that extreme market ...

Regulating Airbnb drives down local rents (as well as house prices)

Airbnb has led to much of the rental housing stock in some of the world's most expensive cities being turned into unlicensed hotel rooms, driving up both rents and house prices even further.

Opponents of regulatory approaches to fix this often say that Airbnb's contribution to inflation in housing costs and values is negligible, and/or that ...

Calculating Facebook’s value by figuring out how much you’d have to pay users to quit

A group of academics from economics, business, and policy schools at Kenyon, MSU, Susquehanna and Tufts performed a series of ingenious experiments to determine how much typical Facebook users value the service, by getting experimental subjects to participate in sealed-bid auctions for payments in exchange for quitting the service.

They found that "the average Facebook user ...