– by New Deal democrat On this Labor Day, it is fitting to update the economic state of ordinary workers. There is a variety of economic data series to track both average and median wages: The most commonly known measure average hourly pay for nonsupervisory workers, which is part of the monthly jobs report. The Bureau of Labor Statistics, which conducts the household employment survey, also reports “usual weekly earnings” for full-time...

Debt Relief Could Have Changed Everything.

[embedded content] 643,567 views May 20, 2024Why would I be timely with this Keynote Address to the Class of 2024 by Ken Burns. Fifty-something addresses to graduating classes at Brandeis University. Good listen if you have 25 minutes to hear it. Ken Burns books are good reads and make for something to do while spending 10 or more hours on a plane. ...

The university where I was on faculty for 37 years has one of ten NIH-funded vaccine testing and evaluation units in the US. I vividly recall attending a presentation by the clinical director of our vaccine center in January of 2020 on the then-new SARS-CoV-2 virus. By the summer, our vaccine center became a clinical trial site for the Moderna mRNA vaccine. I immediately enrolled, even though I knew I had a 50% chance of being in the placebo arm (in...

Mainstream economics has a blind spot. It ignores private debt. This oversight is like trying to navigate a ship without a compass. You might think you're on course, but the reality is you're lost at sea. Credit is the lifeblood of the economy. It fuels growth and drives performance. When we overlook it, we miss the crucial factors that determine economic health. Take a look at the relationship between credit and unemployment. From 1990 to 2014, a staggering correlation...

Predict Crisis before it happens - Get Ravel for free here: patreon.com/ravelation Engineers, Finance, and IT Pros: Learn 50+ years of Real Economics in only 7 Weeks. Weekly with me. Learn more: apply.stevekeenfree.com Join ~10,000 others in downloading my free 'Funny Money' Bundle (2 books, worth $60): new.stevekeenfree.com -- Who is Dr. Steve Keen? Dr. Steve Keen is an influential economist who has dedicated over 50 years to challenging mainstream economic theories. Since his days as...

from Dean Baker In the last-half century, productivity has outpaced the growth of real compensation for the median worker by more than 40 percent. This means that if workers’ pay had kept pace with productivity, as it did in the three decades after World War II, it would be roughly 40 percent higher than it is today. This would mean that instead of a typical worker earning $34 an hour, they would be earning close to $48 an hour. That implies an annual wage of $96,000 a year for a worker...

We have shopped at both stores and also Frys which is also a part of Kroger. Of the three, Ftys is less costly. Our Frys always seems to be out of product. We end up at Bashas to fill out the rest of or grocery shopping, or Sprouts which has excellent veggies, or make the trip to WalMart which is on the other side of town. In any case, you will not save much. They all know what the other is charging. The real issue is, when there is a shortage, do...

 I guess if it is said enough times it has to be true or does it have to be? The Biden rescue since he took office is far better than what we experienced in 2008 onward. Yet Another in the Economy Is Bad Under Biden by Dean Baker CEPR Like other major news outlets, the Washington Post is perfectly happy to ignore the data to tell you the economy is bad under Biden. Past entries in this series included the many pieces telling us young...

Biden-Harris Admin awards $100 Million to navigators to help Americans sign up for healthcare coverage by Charles Gaba ACA Signups ~~~~~~~ The Biden-Harris Administration today continued its historic investment in health care coverage and the Affordable Care Act (ACA) by awarding a new round of $100 million to organizations vital to helping underserved communities, consumers, and small businesses find and enroll in quality, affordable...