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Source:https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States#/media/File:Wealth_distribution_by_percentile_in_the_United_States.png  Source: https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States#/media/File:If-us-land-mass-were-distributed-like-us-wealth.png Source:  https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States#/media/File:U.S._economic_variables_related_to_the_distribution_of_wealth_and_income.png...

I’ve written numerous posts pointing out that expansion of nuclear power is not a serious option in decarbonizing the electricity supply. In a sense, there’s no need to make the case, as no profit-oriented corporation is ever likely to start a new plant. The recent abandonment of two proposed plants in the UK, despite the offer of massive subsidies, illustrates the point. The only purpose of talk about new nuclear power is to attack the only realistic options, wind and solar PV. On...

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from Shimshon Bichler and Jonathan Nitzan Like most of those subjected to the capitalist mode of power, Toro Molina, the protagonist of Budd Schulberg’s novel The Harder They Fall (1947), knows nothing about the larger scheme of things.  From boom to doom Until a few months ago, the stock market narrative in the United States could have been summarized by the popular acronym BTFD – or ‘buy the fucking dip’. Analysts and strategists, emboldened by the world’s synchronized recovery,...

That’s the headline for my latest piece in The Guardian. Final para Events like the Menindee fish kill bring home the cost of treating the environment as a cultural battleground. The culture warriors’ policy amounts to listening to what scientists say we need to do, then doing the opposite. This is a guaranteed route to global disaster. Like this:Like Loading...

from Dean Baker Let’s see, cattle ranchers are against vegetarianism, coal companies are against restricting CO2 emissions, and the Davos crew is trying to combat populism, according to The Washington Post. It is kind of amazing that the rich people at Davos would not understand how absurd this is. Yeah, we get that rich people don’t like the idea of movements that would leave them much less rich, but is it helpful to their cause to tell us that they are devoting their rich people’s...

McDonalds Anyone, Trump Buys for Lunch? Dems Refuse over Bad Offer on the Table. Giving this guy some coverage is questionable; but he is an idiot along the lines of his boss who also says the dumbest things. KEVIN HASSETT, Trump economic adviser: “You know as soon as it’s resolved, then people get their paychecks, and the government will go back to acting normal, and the economy will go back to the 3 percent growth that President Trump’s policies have...

from Lars Syll “Getting philosophical” is not about articulating rarified concepts divorced from statistical practice. It is to provide tools to avoid obfuscating the terms and issues being bandied about … Do I hear a protest? “There is nothing philosophical about our criticism of statistical significance tests (someone might say). The problem is that a small P-value is invariably, and erroneously, interpreted as giving a small probability to the null hypothesis.” Really? P-values are not...