June 26, 2019

Money

"There’s a story we like to tell about American capitalism. Ours is a country that prizes merit, rewards risk and stands apart in its commitment to the collective success of open markets and the free flow of capital. We are a nation of strivers..."

"Stereotypically, there are two sources of anxiety constantly nagging all millennials at a semi-conscious level like a pair of battery-draining mobile phone apps that can’t be uninstalled. One app is called “Massive Debt,” and the other is..."

"In a couple of days I’m going to be participating in an Economic Policy Institute conference on “excessive wealth disorder” — the problems and dangers created by extreme concentration of income and wealth at the top. I’ve been asked to give a..."

"n the early twentieth century, sociologist Max Weber set off decades of debate when he proposed that a Protestant ethic emphasizing hard work, thrift, honesty, and deferred gratification ignited the Industrial Revolution in Western Europe..."

"American money is unbeautiful—uniquely so. One is confronted with this fact at the currency-exchange counters at airports, where one’s workaday green stack of bills is traded for a pile of paper art. The design differences between the dollar and..."

"Facebook has announced a plan to launch a new cryptocurrency named the Libra, adding another layer to its efforts to dominate global communications and business. Backed by huge finance and technology companies including Visa, Spotify, eBay, Pay..."

"Sen. Bernie Sanders, I-Vt., tells us that wealth inequality is at grotesque and immoral levels. Sen. Elizabeth Warren, D-Mass., has a plan to tax everyone lots and lots to solve this. The slight problem is that the Federal Reserve tells us that..."

"Over the last decade, more Americans have turned to renting houses instead of owning them. Data from 2017 says there are more people renting than at any other point in the past 50 years—since 1965. While a majority of these people are in their 20s"

"Whether the Tax Cuts and Jobs Act (TCJA) disproportionately helped the rich may be 2020’s biggest political issue. Treasury Secretary Steve Mnuchin claims that it benefited most Americans. Sen. Bernie Sanders (I-Vt.) calls it a massive giveaway..."

"The recent California Democratic Party convention in San Francisco exposed the divide between the state’s progressive and working-class voters. Progressives, in their militant certitude, support left-wing policies that often don’t affect them..."

"To save the planet, mankind must rapidly reduce its greenhouse gas emissions. But where should we be reducing those emissions from? What would make the biggest difference? Journalists and environmentalists often answer that question by looking..."

"I woke up on a recent Tuesday morning and, while my husband got ready for work, I fixed some not-quite-healthy breakfast for the kids, harangued them until they brushed their teeth and put on shoes and socks, and drove them to school..."

"At the Center for Responsible Lending, we understand how access to safe, affordable credit can help ensure people have a path to building wealth. But access to harmful payday loan products does the opposite."

"Much has been made lately of the hot economy, a narrative driven largely by a long run of strong jobs numbers. But this enthusiastic story line is ignoring a few disturbing structural problems that suggest that the economy is not as strong as..."

"Trump declared the Fed should cut short-term interest rates by half a point at its May meeting; the Fed ignored him, keeping rates unchanged. The Senate, too, ignored his stated desire to appoint two political cronies to the Federal Reserve Board."

"Free markets are supposed to allocate goods and economic activity through self-regulating price signals. But money itself is not just another commodity on the markets — it's the medium of exchange..."

"The digital age has allowed a host of businesses—from online lending to for-profit education—to access detailed information about potential customers, the platforms that can target them, and the money to put it all together."

"Televangelist Todd Coontz has a well-worn routine: he dresses in a suit, pulls out a Bible and urges viewers to pledge a very specific amount of money."

"Delo signed what’s known as the Giving Pledge, a commitment started by Bill Gates and Warren Buffett to encourage fellow ultra-wealthy people to “dedicate the majority of their wealth to giving back.” "

"Bernie Sanders has lived most his adult life in the middle class. But thanks to the book he published in 2017 after his first presidential run, he is now a millionaire."

"When was the last time you talked with colleagues about how much money you earn? If you’re like most people, your answer is “never.” As a society, we’re incredibly weird about discussing how much we earn."

"People are moving to smaller cities in search of affordable houses that don't exist. Millennials are stuck renting in places they would never have chosen if not for the dream of owning a home."

"How did he amass three houses and a net worth approaching at least $2 million? The surprisingly conventional middle-class climbing of a radical-sounding socialist."

"Are public-school teachers really underpaid? It’s a claim often made during teacher pay disputes, but the same data and statistical methods that produce the “teacher salary gap” lead to some ridiculous conclusions..."

"The sunny job numbers and steady growth hide the fact that most people think the economy works only for people in power."

"The money is already here—and has been for years. 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."

"The biggest challenge in measuring real compensation and Americans’ well-being is the extraordinary growth in new products that have brought new benefits not captured in any government consumer price metric."

"The vacation rental industry is mired in claims that it harms neighborhoods and housing markets. Can a nonprofit co-op make the tourist trend a community asset?"

"Tariffs on foreign goods are supposed to help companies that make things in the United States by increasing the costs of products sold by foreign competitors."

"The market for earth-friendly products is ever-growing. In 2018, the reusable water bottle market was valued at more than $8 billion, up 3 percent from 2017, and it’s expected to reach $10.4 billion by 2025."

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