Sublime

When asked in a Bloomberg television interview if, given the dire state of the economy, his own taxes should be raised, Schwarzman, who was one of the most vigorous defenders of the carried-interest loophole, suggested that, to the contrary, the poor needed to pay more. “You have to have skin in the game,” he said. “The concept that half of the pub

The NIT pays you money if your income falls below some minimum level and effectively guarantees people a minimum income regardless of how much they earn working. Heather wanted to see whether the NIT reduced people’s incentives to work.

I’ve met Ayn Rand fanatics all over—among Silicon Valley venture capitalists, at the office of the Tampa Bay Tea Party, even on a road paving crew. Speaker of the House Paul Ryan (who read Atlas Shrugged in high school) brought her pitiless philosophy of egoism to policymaking on Capitol Hill. Libertarianism speaks to the American myth of the self-

Powering this downward spiral is falling wages: since 2008, real pay in Britain, which takes inflation into account, has dropped by more than 10 per cent. It should come as little surprise, then, that nearly 17 million Brits of working age have less than £100 in personal savings. In the United States it’s a similar story, with 63 per cent of Americ

For most of the 2020s, the driving economic force will be low growth in productivity, decreased opportunities for investment of accumulated capital, and low interest rates. It will also be a period of increasing unemployment, driven by continued decline in industry and stagnation in high tech as the result of the maturation of the core technology.

What appears to be a small slowdown becomes a very noticeable gap over time, and typical American families have been living with a growth slowdown for almost forty years. If you’re wondering, this observation about median income is not a secret, but we haven’t yet given it the correct interpretation. The American left has pointed out and indeed str