Yves here. This post provides a history of the rise of the current mainstream antitrust theory, the so-called Consumer Welfare Standard, and why it is deeply flawed, and in a pro-corporate direction, naturally. While it acknowledges that the contemporary intellectual...
Wages for farm workers and food processing will likely rise, if the past is any guide. Figure 1: Farm worker wage, 2023$ (blue, left log scale), and share of civilian employment foreign born (tan, right scale), both s.a. NBER defined...
By Lambert Strether of Corrente. Bird Song of the Day Northern Mockingbird, Quitman Farm, Brooks, Georgia, United States. * * * In Case You Might Miss… DOGE. Kamala’s future. If any. The state of tech: like industrial chemical accident. Covid...
Lambert here: Ah, “Accurate information.” By Daron Acemoglu, Institute Professor in the Department of Economics at Massachusetts Institute of Technology (MIT), Cevat Giray Aksoy, Associate Director of Research in the Office of the Chief Economist at European Bank for Reconstruction...
A decent portion of the members of the actual or wannabe capitalist classes have realized they are on the losing end of class warfare and are identifying more and more with the great unwashed public. The most obvious sign is...
Deming, Ong and Summers have a good overview of long-run and very recent changes in the US labor market. Using a measure of occupational titles the authors find: The years spanning 1990-2017 were the most stable period in the history...
About Lambert Strether Readers, I have had a correspondent characterize my views as realistic cynical. Let me briefly explain them. I believe in universal programs that provide concrete material benefits, especially to the working class. Medicare for All is the...
The RAND Corporation, one of the more influential US think tanks that help craft US foreign policy, is out with a new paper arguing that it’s time the US use a divide and rule strategy with Beijing and Moscow in...
Yves here. This article shows that the robustness, or lack thereof, of the elderly is starting to get official attention. The authors constructed a frailty index, using data from the Health and Retirement Study and the English Longitudinal Study of...
Several theories for the rash of drone sightings in New Jersey Source link...
