The End Of Economics?
Economists have fallen in love with the supposed rigor that derives from the assumption that markets function perfectly. But the world has turned out to be more complex and unpredictable than the equations. Human beings are rarely rational—so it’s time we all stopped pretending they are.
How Texas Instruments Monopolized Math Class
Some major textbooks feature illustrations of Texas Instruments–series calculators alongside the text, so students can use their Texas Instruments calculator with the lesson plan, emphasizing how deeply interwoven Texas Instruments remains with the educational hegemony.
How McKinsey Destroyed The Middle Class
Consultants seek to legitimate both the job cuts and the explosion of elite pay. Rather than simply improving management, to make American corporations lean and fit, they fostered hierarchy, making management, in David Gordon’s memorable phrase, “fat and mean.”
Will The Boomers Cause A Financial Bust?
It’s the baby boomers who won the generational lottery, and they now appear to want their children and grandchildren to cover their low taxes and rising health care costs.
Buying Organic Veggies At The Supermarket Is A Waste Of Money
It has happened to all of us. You’re standing in the produce aisle, just trying to buy some zucchini, when you face the inevitable choice: Organic or regular? Is it worth the extra money? The answer: Probably not.
How The 0.001% Invest
Global finance is being transformed as billionaires get richer and cut out the middlemen by creating their own “family offices”, personal investment firms that roam global markets looking for opportunities.
Why Bigger Planes Mean Cramped Quarters
The current Boeing 737s, the world’s most flown craft, are all longer than the original by up to 45 feet. And yet, on the inside, we’re getting squeezed. That’s because more space doesn’t equal more space in Airline World. It equals more seats—and typically less room per person.
Beyond The Growth Gospel
The Hotel Belvédère du Rayon Vert symbolizes the very empire these adherents of “degrowth,” as the movement is known, wish to overthrow: consumption, wealth, inequality, travel, and cement, the whole modern industrial condition.
How Oxford University Shaped Brexit — And Britain’s Next Prime Minister
You turn the pages of yellowing student newspapers from 30 years ago, and there they are, recognisably the same faces that dominate today’s British news. Boris Johnson running for Union president, Michael Gove winning debating contests, Jeremy Hunt holding together the faction-ridden Oxford University Conservative Association (OUCA).
A Belief In Meritocracy Is Not Only False: It’s Bad For You
Meritocracy has become a leading social ideal. Politicians across the ideological spectrum continually return to the theme that the rewards of life – money, power, jobs, university admission – should be distributed according to skill and effort.
Why Do We Work So Hard?
Work, in this context, means active, billable labour. But in reality, it rarely stops. It follows us home on our smartphones, tugging at us during an evening out or in the middle of our children’s bedtime routines. It becomes our lives if we are not careful. It becomes us.
America Is About To Witness The Biggest Labor Movement It’s Seen In Decades
The past four decades have been perhaps labor’s weakest since the Industrial Age. For a half-century, those working for hourly wages have won almost no real gains. The real average hourly wage in 2018 dollars adjusted for inflation was $22.65 in 2018, compared with $20.27 in 1964 — just an 11.7% gain.
Tourism Is Eating The World
The number of international tourist arrivals has been increasing more or less exponentially since the mid-20th century, and totaled about 1.4 billion in 2018. Europe has seen the biggest share, but the Asia-Pacific region is growing fast.
In San Francisco, Tech Money Doesn’t Buy Happiness
In the midst of a housing crisis, an injection of cash into the superheated real-estate market seems likely to cause an uptick in evictions and displacement.
Meet The Bag Man: 10 Rules For Paying College Football Players
How to buy college football players, in the words of men who deliver the money. These men are fans who believe they’re leveraging football success $500 or $50,000 at a time.
Give Me Capitalism Or Give Me Death
Politicians are floating the idea that the economy supersedes the needs of living, breathing human beings; cruise and airline companies are demanding bailouts and full control over the terms; senators are doing crimes in broad daylight; and billionaire corporatists who did the same are asking regular people for money.
The Complexities Of A Universal Basic Income
“Universal basic income” was for a long time an obscure term bandied about in economics circles. That’s no longer the case. The idea, usually involving a monthly cash grant to every person with no strings attached, has entered mainstream discourse. Small programs hint at how it might work — or not — on a national scale.
Saudi Arabia: What Happens When The Oil Stops
Mohammed bin Salman is about to find out what happens when the world does not need his oil. In the past, the standard response to that hypothesis was condescending looks. Not any more. The prospect of Saudi becoming a debtor nation is real.
Down And Out In the Gig Economy
Gig economies are ersatz structures, designed to skirt labor laws and offload risk and expense onto workers themselves. They serve the whims of capital.
How America’s Biggest Theater Chains Are Exploiting Their Janitors
The major chains — AMC, Regal Entertainment and Cinemark — no longer rely on teenage ushers to keep the floors from getting sticky. Instead, they have turned to a vast immigrant workforce, often hired through layers of subcontractors. That arrangement makes it almost impossible for janitors to make a living wage.
Will Upzoning Neighborhoods Make Homes More Affordable?
Housing affordability is a growing issue in America, and there’s a battle over how to fix it happening on blocks across the country. Zoning—the rules that govern how cities use their land—is on the front line. Cities and states across the country are proposing new upzoning laws to combat the housing crisis. Will they work?