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Jan
2017
16
Jan
2017
7
Dec
2016

Despite the US economy doubling in size in inflation-adjusted terms in the 34 years from 1980 to 2014, a new paper suggests that "almost all of the meager growth in real bottom 50% post-tax income since the 1970s comes from Medicare and Medicaid (the federal programs for old and poor people). Excluding those two transfers, average bottom 50% post-tax income would have stagnated around $20,000 since the late 1970s. The bottom half of the adult population has thus been shut out from economic growth for over 40 years, and the paltry increase in their disposable income has been absorbed by increased health spending."

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3
Oct
2016
28
Sep
2016
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Sep
2016
9
Sep
2016

In a broad cross-section of advanced economies, incomes for the top 10% increased by about 40% in inflation-adjusted terms in the past 20 years, while growing little at the bottom according to the International Monetary Fund (IMF). Meanwhile growth over two decades has slowed — most strikingly in Italy where the IMF expects another decade of stagnation.

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8
Aug
2016

Capital in the Twenty-First Century the English version of the 2013 French book on inequality written by Thomas Piketty, a professor of economics at the Paris School of Economics, created a sensation when published in the US in 2014, entering The New York Times bestseller list and drawing positive reviews from leading economists. Last week, in an IMF working paper, Carlos Góes writes that while Piketty's "work is likely to remain influential in the times to come" and is "rich in data, the book provides no formal empirical testing for its theoretical causal chain."

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23
Jul
2016

Roy Cohn, as a prominent New York lawyer representing politicians, financiers and Mafia mob bosses, in the 1970s and until his death from AIDS in 1986, was an early mentor of Donald Trump as the latter was assuming more power in his father's business. Cohn is credited with instilling the 'always attack, never apologise' technique of the student who has been involved in about 3,500 lawsuits in the past three decades. Just this week Trump's lawyer threatened retribution for criticism from the ghostwriter of Trump's 1987 book 'The Art of the Deal.'

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2
Jun
2016

Global manufacturing activity was in a stagnation rut in May with factory output from Asia, Europe and the Americas barely improving, surveys published Wednesday showed. The Organisation for Economic Cooperation and Development (OECD) also issued a gloomy report Wednesday, which said that the global economy is stuck in a low-growth trap that will require more coordinated and comprehensive use of fiscal, monetary and structural policies to move to a higher growth path and ensure that promises are kept to both young and old.

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