Economics

In the past, fears of job losses from automation were often overstated. Technological progress eliminated some jobs but created others, and often better-paying ones. In the early days of the high-tech revolution, many of the pioneering firms—such as Hewlett-Packard, Intel, and IBM—were widely praised for treating their lower-level workers as part of the company and deserving of opportunities for advancement, as well as benefits including health insurance and a pension.  read more »

The global response to the impact of the Coronavirus seems consistent in at least one respect: everything we previously took for granted is now up for grabs. Long held truisms, established patterns of corporate and individual behaviour, doctrinal teachings, professional articles of faith – nothing is immune from Covid-19 induced change.  read more »

Like so many before them, our recent disorders have been rooted in issues of race. But in the longer run, the underlying causes of our growing civic breakdown go beyond the brutal police killing of George Floyd. Particularly in our core cities, our dysfunction is a result of our increasingly large, and increasingly multi-racial, class of neo-serfs.  read more »

The economic distress resulting from the COVID-19 pandemic and strategies to limit its spread have been substantial. The most intense effects have been inflicted on the estimated 26 million workers who have lost their jobs, either temporarily or permanently. Many businesses may not be able to recover, while others may never be restored to their previous employment, as customer revenues take years to recover.  read more »

It's time to put the current protests revolving around the Minneapolis police killing of George Floyd in the appropriate emotional and historical context. More importantly, it's time to consider what comes next.  read more »

Whatever the medical benefits achieved from the prolonged coronavirus lockdown, California’s small business community will be suffering severe symptoms, likely for decades to come. The state’s small entrepreneurs, particularly in poorer areas, face major readjustments and perhaps obliteration, a situation further complicated for some by damage stemming from the protests over the killing of George Floyd.  read more »

Minneapolis and urban centers across America are burning, most directly in response to the brutal killing of a black man by a white Minnesota police officer. But the rage ignited by the death of George Floyd is symptomatic of a profound sense of alienation that has been building for years among millions of poor, working class urbanites.  read more »

Amazon Air is 2020’s transportation juggernaut, flying high above the many airlines struggling to keep aloft during the coronavirus epidemic. This wholly owned subsidiary of retailing giant Amazon is growing rapidly in response to another surge in online buying. Amazon Air’s expansion marks one of the most significant developments in the U.S. air-cargo business in years—and is giving a shot-in-the-arm to smaller airports oriented primarily towards freight shipments.  read more »

The COVID-19 pandemic has disrupted many things, but also accelerated America’s descent into a new form of feudalism. The preexisting conditions of extreme economic concentration, inequality and reduced social mobility already were painfully evident before, but the pandemic has made them considerably worse.  read more »

In this miserable COVID-19 spring, it’s tempting for remote workers to vent our frustrations with being hemmed in, forced to stare at screens while unable to do much else other than walk around the block or go to Costco. Yet the pain felt by the teleworking middle class is dwarfed by that of working-class Americans.  read more »