Category Archives: Economics

U.S. corporate profits soar with margins at widest since 1950

Bloomberg reports: A measure of US profit margins has reached its widest since 1950, suggesting that the prices charged by businesses are outpacing their increased costs for production and labor. After-tax profits as a share of gross value added for non-financial corporations, a measure of aggregate profit margins, improved in the second quarter to 15.5%… Read More »

Janet Yellen’s global campaign to defund Russia’s war machine

The Washington Post reports: Treasury Secretary Janet L. Yellen was feted by Japan’s leaders after arriving here on Sunday, lunching with the country’s top economists, meeting with senior executives from Sony and Panasonic and lighting incense at the wake of former prime minister Shinzo Abe. But beneath the public bonhomie, Yellen’s hosts quietly expressed concerns… Read More »

Nature is in crisis. A UN report says short-sighted economics is to blame

Grist reports: When governments make decisions, economic considerations often trump everything else — human well-being, social connections, the health of the environment. According to a new report from the United Nations, this imbalance is driving the global biodiversity crisis and the human suffering associated with it. “Despite the diversity of nature’s values,” the report says,… Read More »

Inflation is poised to ease according to three key indicators

Bloomberg reports: Three of the key supply-side factors driving today’s global inflation levels have already turned around, meaning relief could be on the horizon for shoppers worldwide. A bellwether semiconductor price — a barometer of costs of finished electronics products as diverse as laptops, dishwashers, LED bulbs, and medical devices delivered worldwide — is now… Read More »

Economic recession fears could be overblown

The Washington Post reports: If there is a recession brewing in the United States, it would be news to Doug Johnson. The president of Marion Manufacturing Co. in Cheshire, Conn., Johnson is enjoying some of the best times in his company’s 76-year history. Sure, he’s heard the negative chatter about rising prices, sinking stocks and… Read More »

What America needs is a liberalism that builds

Ezra Klein writes: In April, Brian Deese, the director of Biden’s National Economic Council, gave an important speech on the need for “a modern American industrial strategy.” This was a salvo in a debate most Americans would probably be puzzled to know Democrats are having. Industrial strategy is the idea that a country should chart… Read More »

Taking decolonisation beyond Eurocentrism

Ingrid Harvold Kvangraven writes: With the publication of Orientalism in 1978, Edward Said would become one of the most influential scholars of our era. The book transformed the study of the history of the modern world, as it offered insights into how racist discourses created and maintained European empires. As much for his political activities,… Read More »

How many billionaires are there, anyway?

Willy Staley writes: In 1981, Malcolm Forbes, the eccentric and fabulously wealthy magazine publisher, came to his editors with a request: Could they pull together a special issue about the 400 richest Americans? The idea was inspired by Caroline Schermerhorn Astor, the doyenne of Gilded Age New York, who regularly hosted the city’s high society… Read More »

What if jobs are not the solution but the problem?

James Livingston writes: Work means everything to us Americans. For centuries – since, say, 1650 – we’ve believed that it builds character (punctuality, initiative, honesty, self-discipline, and so forth). We’ve also believed that the market in labour, where we go to find work, has been relatively efficient in allocating opportunities and incomes. And we’ve believed… Read More »