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Trivial Pursuit

It would not be possible in the space of even a lengthy review to do justice to either the scope or the style of Brooks and Papo­la’s cine­matic achievement. I can only share some of what I saw. After a brief credit sequence we meet “Arthur,” which is what I will call the Brooks-esque character in the film. (I am going to assume we are not quite meant to identify him with the real-life Brooks, who cannot possibly be as stupid and sinister by turns as this guy…

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Affirming the American Family

Family policy brings into focus the importance of direct, govern­ment-driven measures ordered to achieve outcomes in accordance with the common good. For too many years in the United States, however, family policy has, in effect, been caught in the middle between Republican Party libertarianism and Democratic Party welfarism—both out of step with the broad wishes…

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New Gilded Age or Old Normal?

Since the mid-1970s, inequality has increased under Democratic as well as Republican administrations and Congresses. In retrospect, the four and a half decades from 1933 to 1978 were a historical aberration. The longer-term trend toward more inequality in capitalist economies, which prevailed before this period, has re­sumed after it. That leads us to conclude that there may well be no technocratic or tax policy fix for capitalism’s tendency to generate ever more inequality…

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Trade, Antitrust, and Restoring Domestic Competition

Will more restrictive trade policies harm the U.S. economy by shielding domestic businesses against competition? That’s what standard economic theory holds, insisting that pressure from foreign rivals is needed for U.S.-based businesses to continue to in­novate, to create the highest quality goods, and to sell them for the lowest possible prices. Although this theory has…

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Uber’s Path of Destruction

Since it began operations in 2010, Uber has grown to the point where it now collects over $45 billion in gross passenger revenue, and it has seized a major share of the urban car service market. But the widespread belief that it is a highly innovative and successful company has no basis in economic reality. An examination of Uber’s economics suggests that it has no hope of ever earning sustainable urban car service profits in competitive markets…

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Financing Advanced Manufacturing: Why VCs Aren’t the Answer

In 2013, a group of MIT researchers published a study examining the business trajectory of 150 start-up firms that grew out of technology developed at the university. These were production-related “hardware” firms that actually manufactured things. The firms were able to attract early stage venture capital (VC) funding. They were also able to find the…

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Automation Anxiety in an Age of Stagnation

A cursory glance at Google Trends reveals that interest in robot­ics and automation was far less intense throughout the last decade than interest in proposed solutions to the problems that these tech­nologies are supposedly creating, especially universal basic in­come (UBI). Automation—the process of applying technology and organ­ization to do more with less, with robotics being…

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Rethinking the Knowledge Economy

A new practice of production has emerged in all the major economies of the world. The simplest and most telling of its many names is the knowledge economy. It holds the promise of changing, to our benefit, some of the most deep-seated and universal regularities of economic life and of dramatically enhancing productivity and growth.…

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Losing Momentum: A Warning from the Fracturing British Left

In mid-November 2018, Alexandra Ocasio-Cortez issued a rallying cry that was not given sufficient attention. She called on left-wing activists to take over the Democratic Party. Her chief of staff Saikat Chakrabarti went one step further, openly calling on left-wingers to primary sitting Democrats. Together with YouTube personalities Cenk Uyger and Kyle Kulinski, Chakrabarti is…

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Solidarity under a Song: What Strikes in China Tell Us

Early one Monday morning in 2010, Tan Guocheng came to his shift at Honda’s Nanhai factory in Guangdong Province. Tan was a twenty-four-year-old migrant worker from Hunan, a neighboring province, and the factory manufactured automobile parts. But…

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