The Japan Times - 4 May 2018
In this short column (reads in 5-6 min.), one of the most astute economists on Japan argues that the country “deserves the Nobel Prize for applied economics”. He observes that Japan is performing well - a model of capitalism that manages better than most to balance income growth and income distribution. He provides loads of data showing that the system is good at bringing up the bottom of the income pyramid and generating exceptional inclusion for all in financial wealth creation.
Published in Weekly selection 12 May 2018
The New York Times - metered paywallk - 1 May 2018
The authors of the forthcoming “Radical Markets: Uprooting Capitalism and Democracy for a Just Society” argue that the true villain of our new Gilded Age is not globalization or automation but market (that is, monopoly) power. It reduces growth and increases inequality. They recommend the adoption of antimonopoly laws and laws protecting workers that are updated for the problems of the 21st century (reads in 6-7 min).
Published in Weekly selection 4 May 2018
The Atlantic - 4 Apr 2018
Signs abound that most economies, but the US one in particular, are tilting further towards jobs that give workers less market power. Walmart epitomizes this trend: it is raising wages, but its plans to use more gig labor and automation put workers at a disadvantage. In a nutshell, the labour markers are being ‘gig-ified’, with the ensuing concern: not about the number of jobs, but whether those jobs can support a reasonable standard of living (reads in 6-8 min).
Published in Weekly selection 13 April 2018