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Olduvai III: Catacylsm
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A tale of two deflations

A tale of two deflations Japanification is a term that has re-emerged recently.  It refers to the prolonged economic stagnation of Japan, which commenced after a financial crash in the early 1990s. The stagnation of Japan has been marked by very low inflation (recurring periods of deflation), stagnating productivity growth and a massive increase in government […]

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No Wonder We’re Poorer: Wages’ Share of GDP Has Fallen for 46 Years

No Wonder We’re Poorer: Wages’ Share of GDP Has Fallen for 46 Years  The problem is that limiting financialization will implode the system. The majority of American households feel poorer because they are poorer. Real (i.e. adjusted for inflation) median household income has declined for decades, and income gains are concentrated in the top 5%: Even […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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