Understanding Modern Money: A Tutorial for Labor

This is the second part of a series of guest blogs by Michael Merrill. He has written these pieces to introduce MMT to labor. In the first segment—posted yesterday—he argued that Americans should not be fooled by the claims that our government is broke. That piece is timely, given what is going on in Washington. […]

Aging Workforce Threatens China’s Low-Value Production Status

Labor-intensive industries will be forced to move upscale or automate facilities to sustain operations. With first-generation migrant laborers nearing retirement age, what propelled China to its status as the primary hub for low-cost production is now pushing the country out of this very position. Labor-intensive industries such as toys, footwear, caps and textile products are […]

Self-Fulfilling Prophecies

Is the Federal Reserve doing enough?  Joe Gagnon says no: For more than two years, the Fed has dragged its feet and resisted the obvious need for more aggressive action… …A large majority of the committee projects [pdf] that inflation will be below target over the next two and a half years. If they assign any weight to their […]