Benjamin Studebaker

Yet Another Attempt to Make the World a Better Place by Writing Things

Tag: Household Debt

The Trouble with Sending Everyone to College

As time has passed, more and more people are going to college in the United States. Unfortunately, this is not a good thing. Let’s see why.

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Inequality: Krugman vs. Stiglitz

There’s an interesting debate going on within Keynesianism at the moment about whether or not the present economic malaise in much of the western world can be accredited to the persistent rise in inequality that has transpired over the last thirty years or so. Arguing in favour of the inequality connection is Joseph Stiglitz; arguing against is Paul Krugman. I’d like to examine what both economists have to say on the topic and deduce as best I can my own view on the subject.

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Rise of the Machines: The Robot Economy of the Future

My attention has been drawn to a rather interesting phenomenon by Paul Krugman–that of a gradual shift in the distribution of wealth from labour to capital. As a percentage of the economic total, workers are earning less and less over time, and more and more of our output is landing in the hands of people who own capital–the land, the buildings, the tools, the machines that make things tick. This has interesting implications, and, if I might be permitted to speculate today, those implications may demand changes in how we view what we produce.

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Occupy Wall Street and the Rolling Jubilee

I have been a long-time sceptic of the Occupy Wall Street movement–its reluctance to coalesce around any specific issues or solutions to said issues, its lack of structure, hierarchy, and organisation, and its fondness for Rousseauian direct democracy all have been and remain major turn-offs for me. There’s reason we remember Gandhi, Martin Luther King Jr., and Mandela; good protest movements require good leadership, specific goals, and specific means. However, I have discovered one strand of OWS that is not completely useless. In fact, it may provide an answer to one of the most serious problems afflicting our economy–high levels of household debt and governments unwilling to do anything about it.

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