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Why Mainstream Economics Got Inflation Wrong

James K. Galbraith Project Syndicate
Leading economists' misdiagnosis of inflation in 2021-22 was the latest episode in a long-running series of failures. Either mainstream economists need to re-examine their core beliefs, or the profession needs a new mainstream.

The Real Issue in the UAW Strike

Ronald Brownstein The Atlantic
Unions fear that the auto industry is using the transition toward EVs to advance a second shift away from well-paying jobs.

Why Capitalism Is Leaving the US in Search of Profit

Richard D. Wolff CounterPunch
The economic consequences of capitalism’s profit-driven movement out of its old centers (Western Europe, North America, and Japan) brought capitalism there to its current crisis.

AI, Job Loss, and Productivity Growth

Dean Baker CEPR
The moral of the story is that there is nothing about AI technology that should lead to mass unemployment and inequality. If those are outcomes, it will be the result of how we structured the rules, not the technology itself.

A Big Miss on Drug Prices

David Dayen The American Prospect
President Biden’s NIH rejects a petition to seize the patent of an unaffordable prescription drug.

Rent Going Up? One Company’s Algorithm Could Be Why.

Heather Vogell, ProPublica, with data analysis by Haru Coryne, ProPublica, and Ryan Little ProPublica
Texas-based RealPage’s YieldStar software helps landlords set prices for apartments across the U.S. With rents soaring, critics are concerned that the company’s proprietary algorithm is hurting competition.

Energy, Cost of Living and Recession

Michael Roberts Michael Robert's Blog
To avoid the energy catastrophe and reverse the huge loss in living standards already under way, we need to take over the fossil fuel companies and phase out their production with increased investment in renewables, to reduce fuel prices for households and small businesses.
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