Summary: Now inequality has become too extreme to ignore and the 1% has crushed all opposition, we begin to see the results of their successful counter-revolution. But we do not yet see the hidden struggle that brought the 1% back to power, and cannot yet see how to reform America. Until we see these things … Continue reading The 1% won a counter-revolution while we played. We forgot that we are America’s crew, not passengers.
Summary: The monthly employment report provides the opportunity to look at the New America being built on the ruins of the own. While seldom remarked, it clearly appears in the data. Also, we take a moment to reflect on the purpose and operation of the FM website. "Big industry constantly requires a reserve army of … Continue reading Let’s reflect on the course of the US economy. Not a pretty picture.
Summary: One of the great challenges of the 21st century will be managing the next wave of automation. This rise in productivity can make us richer, create feudal-like inequality, or spark massive social conflict. The result depends on our decisions. The first step, as always is problem recognition. Today we took another small step forward. … Continue reading Krugman discovers the Robot Revolution!