Presentation to the Congressional Progressive Caucus, Opening Remarks October 5, 2017 Amazon recently bought Whole Foods, following a pro-forma approval by the Federal Trade Commission. Amazon touted its plans to cut prices on popular items on the very day the merger closed, and it advertised those discounts as resulting from the merger. It was as

“Market Power Rising” Panel on Antitrust in the Labor Market, Opening Remarks September 25, 2017 Antitrust policy has typically viewed monopsony power in the labor market as arising from an essentially competitive context—if it exists at all. The maintained assumption in the antitrust orthodoxy has been that the economy is on or near its production

Fighting Short-Termism With Worker Power asks, “Can Germany’s co-determination system fix American corporate governance?” Prioritizing immediate increases in share price and payouts at the expense of long-term business investment and growth—a behavior we refer to as short-termism—has driven the inequality crisis in America and weakened our economy. By comparing the German stakeholder system of co-determination

Progressives should embrace employee ownership as one of the best ways to challenge corporate power from the bottom up and put supporting the growth of worker-owned firms in the center of our strategy. As the economy becomes Uber-ized and dominant firms in all sectors take up more and more market share, structural reforms like better

Boeing! Bombardier!! Bears!!!

From a casual look at today’s business headlines, you’d think the Commerce Department had declared war on the world. “The Commerce Department will slap stiff tariff on Bombardier’s new jet” “Bombardier hit with 219% duty on sale of jets to Delta Air Lines” “UK warns Boeing over Bombardier trade row” “Bombardier stock watchers bracing for

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Despite energetic conversations around stagnant wages and job creation, few consider that the financialization of America’s public corporations has contributed just as much to economic inequality as more commonly-cited factors. The debate seems well-settled: scholars point to globalization[1], skill-biased technical change[2], and the decline of union density[3]. Others point to the “rise of the robots”[4],

Washington State workers got a Labor Day reprieve when the World Trade Organization sided with the U.S. over the state’s aircraft subsidies. But — after years of the U.S. trying to throw its weight around in the Geneva court — the result may be more mixed than it appears at first glance. What They Found Today’s decision reverses a

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How would a massive federal spending program like a universal basic income (UBI) affect the macroeconomy? We use the Levy Institute macroeconometric model to estimate the impact of three versions of such an unconditional cash assistance program over an eight-year time horizon. Overall, we find that the economy can not only withstand large increases in

“Right now,” wrote Senator Chuck Schumer in a New York Times op-ed on Monday, “millions of unemployed or underemployed people, particularly those without a college degree, could be brought back into the labor force” with appropriate government policies. With this seemingly anodyne point, Schumer took sides in a debate that has sharply divided economists and policymakers: Is

Late on Monday, the Trump administration released their long-awaited objectives for the renegotiation of the North American Free Trade Agreement (NAFTA). If it looks familiar to trade wonks, that’s because it is. In area after area, the Trump administration proposes to change the North American pact to make it more like the Trans-Pacific Partnership (TPP).