-
Plenty of Work, Not Enough Pay
stoweboyd: One of the most troubling unresolved issues in modern economics is the continued lack of wage increases even as unemployment has dropped to under 5%. This is a worldwide phenomenon and appears to be linked to a number of intertangled factors, like the decline of unions and collective bargaining, the rise of freelancing and outsourced…
-
To the extent that it is driven by rents as opposed to productive activities, the extreme concentration of wealth we observe is not fair according to a meritocratic conception of social justice. Moreover, because rents do not compensate productive activities, redistributing them through taxes or regulation does not harm the economy, and could even boost…