Tags: Corporate

Rising stock market means ordinary workers are ‘screwed’ says Nobel prize-winning economist

Soaring global stock markets during the coronavirus pandemic are a worrying sign that corporations are going to boost their profits by crushing ordinary workers’ wages when the crisis is over, the Nobel economic prize winner and inequality expert Sir Angus Deaton has warned. Global stock markets collapsed in March when the pandemic was declared but…

How should government spend carbon tax revenues?

The other day, a high-powered group of former senior Republican policy advisers and business executives proposed replacing regulations aimed at reducing greenhouse gases with a gradually increasing carbon tax starting at $40-a-ton. The tax itself is a fairly standard carbon levy that many others have endorsed. The two most interesting things about this initiative are who proposed it, and…

Is Mnuchin trying to sabotage the economy?

As the economic outlook worsens, Steven Mnuchin is “stripping lifeboats from the Titanic,” said Elliot Smith at CNBC. That’s how one economist described the Treasury secretary’s decision to end several of the Federal Reserve’s emergency lending programs by Dec. 31. The $650 billion in potential aid put in place by the CARES Act could soon…