2017/04/24: Economists are very worried about the decline in labor’s share of U.S. national income. One reason they’re concerned is because when less of an economy’s wealth flows to workers, it exacerbates inequality and increases the risk of social instability. But another reason is that this trend throws a wrench in economists’ models. For decades, macroeconomic models assumed that labor and capital took home roughly constant portions of output -- labor got just a bit less than two-thirds of the pie, capital slightly more than one-third. Nowadays it’s more like 60-40.
There are four main theories, each of which falls apart under scrutiny.
For one month, I became the "micro-entrepreneur" touted by companies like TaskRabbit, Postmates, and Airbnb. Instead of the labor revolution I had been promised, all I found was hard work, low pay, and a system that puts workers at a disadvantage.
Those concerned about the 11.1 million undocumented immigrants who come to the United States from around the world may one day miss a time when the U.S. ...
You've probably heard of this intriguing new crowd-funding service called Kickstarter, right? (If not, how are you getting this website from that cave of yours?). A lot of people are using it to fund all kinds of exciting new things, and it's obviously useful option for free software projects. Properly used, it can allow us to close the gap against proprietary applications that still have more polish or exist in niches that require more capitalization. But the idea that it is somehow immoral to ask for money to work on free software has got to go!