It is plausible to view much of the profits booked in the financial industry in the years from 2003 to 2007 as fake profits, as they were closer to a story of mass counterfeiting than a story of a shift from wages to profits

But Don’t Reverse Decades of Wage Stagnation

While it is often traumatic for workers to lose jobs, especially long-held jobs, it is important to realize that relatively few jobs are at stake in the coal mining industry

If we had some mechanism for sharing research costs across countries, then new drugs could sell for a few dollars per prescription, instead of a few thousand

It is very convenient for the people who deliberately structured the economy to give more money to people like themselves, at the expense of the rest of the population, to act as though the upward redistribution was something that just happened

There is little reason to doubt that Trump will use tariffs and their application as a tool to reward friends and punish his political enemies. After all, vengefulness is the one principle that Trump has adhered to consistently

The first and most basic point is that in nearly all cases drugs would be cheap. Drugs are very rarely expensive to manufacture

Some events give extraordinary insights into the biases of the economics profession. The trade war with China clearly fit the bill

This is yet another policy the U.S. government is pursuing that will increase inequality

A two-to-one ratio of Black unemployment to white unemployment is a national outrage