The Amazon Economy
Amazon undoubtedly brings efficiency to the shopping process, but there is a considerable price to pay for this. By monopolizing online market access, it forces most other online sellers to […]
An Unexpected Tax Cut Bonanza
The Trump tax cut could produce more economic stimulus than many economists (ourselves included) expected. This could occur if others copy the example of several big corporations that announced they […]
A Bitcoin Economy?
While we are in the midst of a speculative frenzy, the value of Bitcoin will ultimately be determined by its usefulness. Even if we think the speculative frenzy is likely […]
Why Trickle Down Doesn’t Work
Tax cuts for the wealthy doesn’t trickle down, at least not in the US, the evidence is clear. Tax cuts for corporations might fare a little better through increased investments […]
The Consequences Of Permanently Low Interest Rates
It is possible that, in the absence of rising inflation, interest rates remain extremely low for much longer. This has several important consequences for asset prices and the dollar, for […]
The Uber Economy
Here is one reason why wages are not rising – the uberfication of the economy, which has actually preceded Uber for decades; outsourcing is very similar in its effects. Structural […]
A Tax Cut For Shareholders
The proposed tax cuts aren’t likely to do much for the economy or the middle class. But they are an important factor in keeping the markets up and are likely […]
Amazon Has Become A Macro Phenomenon
Has Amazon become so big that it is starting to affect how the US economy behaves? The evidence is somewhat mixed, Amazon probably exerts downward pressure on prices, but not […]
Some Weird Facts About The U.S. Labor Market
Whether the US labor market is tight or still has considerable slack is one of the most important economic puzzles right now. For instance, it determines whether the Fed should […]
The IMF Blasts The U.S.
The IMF has become pretty critical of the US economic model, arguing it isn’t addressing rising inequality, stagnant wages, declining participation and social mobility and high poverty levels. While this […]