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Corporate takeover of groceries

Stacy Mitchell is the executive director of the Institute for Local Self-Reliance who studies the problem of big businesses eating the entire economy. An economy full of small businesses has Less monopoly power which can mean lower prices. Greater diversity

Posted in Labor, Macro, Managerial Micro

Is Wokeism bringing back a colorblind aristocratic class consciousness?

Updated March 29, 2023 Matt Yglesias argues that the old British class system had a lot of features that were eerily similar to recent trends in political correctness. For example, educational institutions, particularly at elite levels, have embraced DEI, but

Posted in Discrimination, Philosophy and ethics

Steve Jobs got a small part of the Giant Turnip at Apple and a large part at Pixar

When Steve Jobs died in 2011, Matt Yglesias said that he was a net-worth failure compared to other computer executives of his era like Michael Dell and Bill Gates: The rivalry between Steve Jobs and Bill Gates that dominated the

Posted in Labor, Managerial Micro

The Just Deserts of Capitalism and the Giant Turnip

Updated Feb/13/2023 ≈35 minutes to read. Why do some people earn more money than others? The overly simplistic answer from neoclassical economics is that people earn what they produce. If a doctor earns four times as much as her pastor

Posted in Inequality, Labor

Race Vs. Class At College

David Leonhard found that elite colleges have very little economic diversity.  At elite schools, only a little over 10% of the student body comes from families below the median income. William Bowen, …was a co-author of a study several years ago that

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Posted in Discrimination, Labor

Unions and the mafia

There is very little scholarly research about unions and organized crime according to an article and book I found on the topic. At this point the topic now seems unimportant because unions have been in decline in the USA and

Posted in Labor

Why buy a lotto ticket when other kinds of gambling are much more profitable?

The lottery is much less efficient than most form of gambling than most because each lottery ticket has an expected loss of more than 50% after taxes whereas slot machines have an expected loss of only about 10% and the

Posted in Labor

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