Skip to main content

Economics Daily Digest by the Roosevelt Institute banner

By Tim Price, originally published on Next New Deal

Click here to receive the Daily Digest via e-mail.

Day of Greed (Harper's)

Roosevelt Institute Senior Fellow Jeff Madrick responds to critics who think it's an exaggeration for him to call the current era the Age of Greed by presenting a devastating collection of evidence: the morning business headlines from the Wall Street Journal.

Is JPMorgan a farmer? (Salon)

David Dayen explains how Wall Street wound up routing all its shadiest bits of business through the House Agriculture Committee, which most people probably wouldn't expect to have the power to gut Dodd-Frank's derivatives regulations. (Spoiler: It just did.)

A Tale of Two Economies (Colorlines)

Imara Jones writes that if you're not at the top of the economic ladder, above the altitude of little problems like wage stagnation, racial discrimination, or the complete breakdown of our governing institutions, recent news doesn't offer much cause for celebration.

What the looming debt ceiling fight (yes, another one) tells us (WaPo)

Jamelle Bouie notes that with the deadline for raising the debt limit approaching, House Republicans want entitlement cuts in exchange for their cooperation. They'll also want a helicopter fueled up and ready to go once the hostages are released unharmed.

Austerity for Everyone, Prosperity for None (U.S. News)

Pat Garofalo writes that George Osborne, Paul Ryan's counterpart in the U.K.'s Tory government, has presented another austerity budget to help put the "blight" back in Old Blighty. Plan B is to ask if they can maybe do the Olympics there again next year.

Women in Healthcare Suffer Abuse Inside and Outside the Home (The Nation)

NND Editor Bryce Covert writes that while women are dominating the growing domestic work and health care industries, workers in those fields also tend to suffer high rates of physical and emotional abuse and injury. Who nurses the nurses back to health?

Why the Trader Joe's Model Benefits Workers -- And the Bottom-Line (National Journal)

Sophie Quinton writes that low-cost retailers like Trader Joe's and Costco have found that paying their workers well results in increased profits, since customers have a better shopping experience when store employees aren't stone-faced and grunting.

Witness the GOP's Vanishing SKILLS Act (In These Times)

Mike Elk reports that Eric Cantor's grand plan to redefine the GOP as the party of jobs with his "Make Life Work" agenda got off to a great start as a bill to mush all federal jobs training programs into an undifferentiated lump barely cleared the House.

Tim Price is Deputy Editor of Next New Deal. Follow him on Twitter @txprice.


Originally posted to Daily Kos Economics on Thu Mar 21, 2013 at 06:38 AM PDT.

Also republished by Daily Kos.

EMAIL TO A FRIEND X
Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags

?

More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

  •  Love Trader Joe's (3+ / 0-)
    Recommended by:
    p gorden lippy, commonmass, allenjo

    Drinking their merchandise now. Agree about the shopping experience, but they are NOT a low-cost retailer.

  •  that Greed piece was excellent. Short, to the (0+ / 0-)

    point, spot on. Echoes of the Roaring 20's or the Gilded Age.

    Thanks for these useful links, RI.

    Fear is the mind-killer - Frank Herbert, Dune

    by p gorden lippy on Thu Mar 21, 2013 at 01:35:41 PM PDT

  •  I look forward to this series everyday. eom (0+ / 0-)

    'Guns don't kill people, video games do - paraphrased from Lamar Alexander (Sen-R-TN)'

    by RichM on Thu Mar 21, 2013 at 01:46:30 PM PDT

  •  fluff article (0+ / 0-)

    The Trader Joe's articel seems like fluff.  It doesn't even really talk about Trader Joe's.  One of those things that mentions a national name that people tend to think about, then talks about something completely different.  The only information in the whole thing is that at some convenience store I have never heard of they pay around $40K, twice as much as the "average cashier".  Both these numbers are listed without context, and no information on what Trader Joe's Pay.

    For instance, are these wages paid to get "certain" workers, or is there some diversity. I don' know because the article does not say and the only Trader Joe's I have been to has the problem that Whole Foods used to have.

    Yes it would be nice to have high wages, and one way to make that happen to have small stores like Trader Joe's with high prices, or very large stores with bulk low prices.

    What I do know is that many college grads are working for $10-13 a hour in jobs that require a college degree, and this is what a person appears to makes at whole foods or trader joe's.  Unfortunately there is not a large market for such a thing, since everyone is making low wages, so the number of such jobs is limited.

    All we can do is vote with our dollars and go to places that pay well.  Unfortunately sometimes that is hard to do financially.

  •  n.b. don't confuse QuikTrip with Kwik Trip, (0+ / 0-)

    the WI chain that supports Walker.

  •  Independent contractor vs employee story (0+ / 0-)

    here's an interesting story on labor rights:  http://money.cnn.com/...

  •  The only time I went to a Wal-Mart (0+ / 0-)

    (many years ago) the first word I heard was "Fuck"  Two 'associates' were arguing and calling each other names.  The store was dirty and had a lot of empty spots on shelves.  I've never been tempted to go back.

  •  The 'Florida Financier' in the Greed article (0+ / 0-)

    is Craig Berkman - former head of the Oregon Republican Party and Republican candidate for governor.  He was successfully sued for stealing $5 million of his clients' money in 2006 - and promptly declared bankruptcy and moved to Fla.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site