Monthly Archives: August 2013

Credit is Not Wealth: The Spanish Acid Reflux Edition

Much to my dismay, the Wall Street is reporting that people feel “confident” again to spend credit in consumer markets. There’s some problems with this scratch-the-surface theory: it simply isn’t true. Wall Street is making this claim as Retail sales are … Continue reading

Posted in Demand, Economics, Political Economy, Public Policy | Leave a comment

The Fallacy of Inflationary Wages

Sometimes it’s just a good idea to just let history be your guide. There’s the usual argument between Academic Economists (pdf) and the Wall Streeters who are at odds over whether or not raising the minimum wage would cause inflation. … Continue reading

Posted in Economics, Political Economy, Wages | Leave a comment

Slave wages versus wage slavery and Labor Rents

Using some data sets from the Bureau of Economic Analysis, I managed to figure out that a slave would make $3.77 per hour in 2011 dollars if he weren’t a slave. That makes $3.77 per hour the “slave wage”. The … Continue reading

Posted in Economics, Poverty, Slavery, Sociology, Wages | Leave a comment

Economic Numbers Behind Slavery

While I’ve been working on a paper on wage slavery for a Journal out of McGill University (more on that in a minute), there’s a great paper about the economic numbers behind slavery in 2011 dollars. Essentially, in 1859, in … Continue reading

Posted in Economics, Slavery, Sociology, Wages | Leave a comment

Arguing with Socioeconomic Insanity

The Huffington Post has a spread on a CNBC story about how the rich are hoarding cash, keeping it from the economy. This is nothing new, and insane that it hasn’t been in the news since, well, ever. Here’s the … Continue reading

Posted in Demand, Economics, Sociology | Leave a comment

The Delusions of Higher Education

My College, Buffalo State College, a part of the State University of New York forces students to take out tens of thousands of dollars in Student Loans, and then behaves as though they are doing students a “favor” by “allowing” … Continue reading

Posted in Public Policy, Sociology | 1 Comment

How the 401(k) is Sham-tastic

Helaine Olen over at Salon has a great description of the structural problems of the 401(k) system and quality of life issues. The 401(k) system has clearly failed, but in a different way than what Olen presents, which is mostly … Continue reading

Posted in Poverty, Sociology, Wages | Leave a comment