Journalist and public education advocate Jennifer Berkshire traveled to the heart of DeVos-land — the Acton Institute for the Study of Religion and Liberty in Grand Rapids, Michigan — to learn more about Betsy DeVos and her family’s life-long attempt to dismantle the “nanny state.”
When writer Dale Maharidge and photographer Matt Black traveled through California, Ohio, and Maine to labor alongside the working poor, t hey found lots of things they expected — long hours, low pay, financial uncertainty — and one thing th ey didn’t: hope.
The ‘First Great Chocolate Boom’ occurred at the end of the 19th and early 20th century. The industrial revolution turned chocolate from a drink to a solid food full of energy and raised incomes of the poor. As a result, chocolate consumption increased rapidly in Europe and North America. As the popularity of chocolate grew, production spread […]
In a recent essay for Adbusters, Douglas Haddow posited that algorithms are the new “invisible hand” guiding our capitalist system. But before Haddow got to that conclusion, he explored the original idea of the invisible hand, and the man behind the phrase: If we want to interrogate the true nature of these numbers, the wizard […]
Andrew Odlyzko, a mathematician and bubble expert, proposes a simpler theory explaining speculative panics in his study on the British Railway Mania of the 1840s. Odlyzko credits Railway Mania in part to a “collective hallucination,” an extreme form of groupthink wherein a significant chunk of society feverishly buys into a shared dream with no regard for the skeptics and […]
It’s not just the workers who get a lousy deal. Over the years, Bob Baber, the Quiznos franchisee, became increasingly frustrated by the terms of his contract. One of the issues that galled him the most was that Quiznos was allowed to (and did) place additional sub shops in his franchise area, creating what he […]
Paul Krugman, in the New York Review of Books, on Capital in the Twenty-First Century, the new book from Thomas Piketty, professor at the Paris School of Economics: It therefore came as a revelation when Piketty and his colleagues showed that incomes of the now famous “one percent,” and of even narrower groups, are actually […]