The hypothesis of $uperhubs: How the Financial Elite and Their Networks Rule the World, by Sandra Navidi ... [is that] people with the most connections and influence, “superhubs”, increase their power [and gain] their competitive advantage [through] their ability to build relationships ... however: they tend to disable corrective mechanisms like regulatory reform, and their self-serving insularity helps sow the seeds of populist rebellions against [themselves].
Read More“Automatic returns” could vastly simplify tax season for millions of people.
Read MoreEconomists Stephanie Kelton and Rohan Grey take Jon down a Modern Monetary Theory rabbit hole, where they learn that the Fed could actually do a lot more than it is.
Here it is: The full story of wealth inequality in America. The top 1% holds 15x more wealth than the bottom 50% combined.
Read MoreUS employers are recruiting teenaged workers to solve their difficulties in hiring and retaining workers, and some Republicans and industry groups are pushing for looser child labor laws to allow those industries to put teens to work for longer hours.
Powell sold between $1 million and $5 million worth of stock from his personal account on October 1, 2020, according to disclosure forms … Powell’s sale of shares from a Vanguard Total Stock Market Index Fund … occurred right before the Dow Jones Industrial Average suffered a significant drop. A Fed media relations spokesperson was not available for comment
Read MoreBlockchain research firm Blockdata suggests that out of the 100 biggest banks by assets under management (AUM), 55 of them have investments in crypto or blockchain-related businesses, either directly or through subsidiaries.
Read MoreIncome and wealth are now more concentrated at the top than at any time over the last 80 years, and our unjust tax system is a big reason why. The tax code is rigged for the rich, enabling a handful of wealthy individuals to exert undue influence over our economy and democracy.
After receiving $500 per month for two years without rules on how to spend it, 125 people in California paid off debt, got full-time jobs and had “statistically significant improvements” in emotional health, according to a study released Wednesday.
More than 40 million Americans hold $1.7 trillion of student loan debt — whether they graduated from college or graduate school or not. The economic devastation of the COVID-19 pandemic has only compounded this crisis.
To make matters worse, the FTC alleges that Amazon “then intentionally failed to notify drivers of the changes to its pay plan and even took steps to make the changes obscure to drivers.”
All the debates over ‘fintech,’ once you get beyond the scams and the hype, are really a debate about the future of money. The recent rise of ‘fintech’ is just the latest saga in a centuries-old struggle between democratic accountability & unaccountable private power, with the latter hiding behind promises of technological innovation.”
How an army of Reddit users massively inflated the price of a flailing video game chain—in no small part to stick it to Wall Street.
Short sellers have been called a lot of things. Bloodsuckers. Parasites. Other words not fit to print. Now in the vortex engulfing GameStop Corp., they have a new name: the establishment.
Read MoreUntil 1968, the minimum wage not only kept pace with inflation, it rose in step with productivity growth. For workers at the bottom to share in the overall improvement in society’s living standards, the minimum wage should also rise with productivity … that means that as workers are able to produce more goods and services per hour, on average, minimum wage earners will be able to buy more goods and services through time.
Read MoreThe worse-than-expected data marked the 35th straight week that new jobless claim applications have remained above the worst single week of the 2008-2010 global financial crisis, and analysts fear the latest increase is just the beginning.
$500 million. It’s extremely difficult to comprehend, since most people on planet Earth will never possess even a fraction of that wealth.
Read MoreThailand will ban three popular pesticides starting Sunday over public health concerns. Many farmers aren't happy. The U.S. government is urging Thai officials to reconsider.
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