A border on a forever loop where autonomous armaments are self producing and mutuealky destroying is a hellish idea. And much better than today's warfare.

Can confirm it is terrific and it doesn’t just tell the story of how labor share of income and labor power fell but focuses on how we’ve closed the gap (tight labor market) and how we can continue to do so (wage boards, stronger union density, creating a culture of fair share etc)

The hidden power keeping wages low For decades, economists gave short shrift to the idea of monopsony — a power employers can have to suppress wages. Now a wave of research suggests it's everywhere, and a new book argues it's key to un...

"The Wage Standard is a compelling book. It would be sad — and ironic — if it had only one buyer. Maybe check it out?"

Planet Money newsletter on monopsony and The Wage Standard, part 2

www.npr.org/sections/pla...

The Vindication of Bidenomics Are we finally ready to acknowledge its successes?

"Dube has a terrific new book out, The Wage Standard: What’s wrong in the labor market and how to fix it, which is a manifesto on how to improve the state of workers."

Thanks for the shoutout, @pkrugman.bsky.social

open.substack.com/pub/paulkrug...

#TeachEcon!

Chavez-DeRemer was supposed to be the pro-worker face of the Trump administration, according to many post-liberal thought leaders.

She was, by all accounts, an abject failure.

I did re-allocate.

When you're in the world where stock prices are heavily driven by higher-order beliefs (what Keynes called the beauty contest), there is very little force that tethers asset prices to "fundamentals."

Here's a way to think about why the stock market keeps "looking through" everything.

We're in a bubble, where valuations are high, held up by the belief that others will keep valuing them the same.

So any shock (say a war) gets shrugged off, because you assume everyone else will shrug it off too.

JD Vance talks about theology with the confidence that Silicon Valley types make macro-economic forecasts

"Strong priors lead to overconfident stories about noise" describes a great deal of writing about the economy.

I think the figure suggests if you look back over the past 10 or 15 years, these kind of swings are not particularly uncommon. It's easy to over-read subgroup swings and tell stories.

I'll be more mindful next time.

This is not to say AI has had no impact on any jobs, and certainly not that it won't in the future.

But it's good to take a step back sometimes.

Yes, and this is true for HS grads as well as those with a BA degree: latter supposed to be more exposed to AI.

Is there a mystery here? Not much. These swings are not unusual.

Strong priors led some influential voices to tell over-confident stories about noise.

Nobel laureate James Buchanan attacking (future) Nobel Laureate David Card over his work on the minimum wage

Just finished it this weekend. It's excellent! You even get to see Nobel Laureates fight

Fantastic book.

Not that anyone would care about my reading list...
but I am excited to inform you that... this is next!

bsky.app/profile/did:...

I appreciate the engagement from Nancy Folbre about The Wage Standard.

I'll just add that my proposals for sectoral standard would substantially reduce gender pay gap, and would operate in large part through building a better wage standard for the care economy.

What, Exactly, Is a Fair Wage? - The American Prospect Arindrajit Dube brilliantly dissects how wages really are set—but overlooks the particular hurdles that care workers face.

The Wage Standard, a new book by Arindrajit Dube, marshals decades of labor economics research to make a case that should be obvious: Most American workers have been systematically underpaid for the past half-century, not because of markets, but because of power.

The labor economics of 'Alien' — and its lessons for inequality on Earth Behind the acid blood and jump scares of the Alien franchise is an even more insidious horror: a single employer with unchecked power. How Weyland-Yutani helps explain monopsony — and the rise of ineq...

Meanwhile:
www.npr.org/sections/pla...

Coming soon:

Goodreads Discover and share books you love on Goodreads, the world's largest site for readers and book recommendations!

If anyone who has read The Wage Standard is so-inspired, feel free to share your thoughts (whatever they may be) on goodreads.com ... I'd be very interested to hear any and all perspectives!

Very excited about this event in NYC on May 1.

Here's the link to register: events.columbia.edu/go/labormarket

A lot of people have bet on the singularity that will change history and its terms.

The hot May Day ticket in NYC

Very excited about this event in NYC on May 1.

Here's the link to register: events.columbia.edu/go/labormarket

The labor economics of 'Alien' — and its lessons for inequality on Earth Behind the acid blood and jump scares of the Alien franchise is an even more insidious horror: a single employer with unchecked power. How Weyland-Yutani helps explain monopsony — and the rise of ineq...

Hey, @planetmoney.bsky.social is onto something here! New weekend plans: Reading @umassamherst.bsky.social Professor of Economics @arindube.bsky.social's new book + rewatching Alien 📖🍿

Very sad news.