Avert your eyes! My Sunday morning take a look at incompetency, corruption and coverage failures:
• The Fact About Musk, From His Biographer: A viral Bluesky thread launched tens of 1000’s around the globe to a primary glimpse of a forthcoming biography of Elon Musk. Right here—in a single essay—is a few of what the world simply discovered. (Proof)
• The California Job-Killer That Wasn’t: The state raised the minimal wage for fast-food staff—and employment stored rising. So why has the legislation been proclaimed a failure? (The Atlantic) see additionally The Minimal Wage Claims You Hold Listening to Are Completely Pretend. We Can Show It. In September 2023, California handed a legislation to convey quick meals staff’ minimal wage up from $16 to $20 an hour. A flurry of experiences predictably adopted from the likes of The Wall Avenue Journal, Employment Insurance policies Institute, and the Hoover Establishment claiming that eating places and different companies have been already shedding staff primarily based on the brand new legislation. This December, Ohanian retracted his declare; Hoover retracted 8 extra Ohanian claims. (Drop Web site)
• America’s Well being Insurance coverage Grinches: A Scathing Indictment of “Market” Economics: The nation’s flawed insurance coverage mannequin, pushed by greed, results in inefficiency, inequality, and denied care – a colossal rip-off that has sparked fury throughout the nation. (Institute for New Financial Considering)
• Insurance coverage and Taxes Now Value Extra Than Mortgages for Many Householders: Ballooning bills rewrite the maths of homeownership. (Wall Avenue Journal) see additionally Migration Into America’s Most Flood-Inclined Areas Has Extra Than Doubled For the reason that Begin of the Pandemic: Almost 400,000 extra folks moved into than out of probably the most flood-prone counties in 2021 and 2022—a 103% improve from the prior two years. The counties most weak to wildfires and warmth have additionally seen extra folks transfer in than out because the housing affordability disaster pushes People into disaster-prone areas. (Redfin)
• She Blew Her Life Financial savings. How Tech Is Turning Informal Spenders Into Binge Consumers. The rise of affiliate hyperlinks, Purchase Now buttons, and different expertise has made it simpler than ever to binge, usually with dire penalties. (Barron’s)
• Substack Has a Nazi Drawback: The publication platform’s lax content material moderation creates a gap for white nationalists desperate to get their message out. (The Atlantic) see additionally Antisemitism, False Data and Hate Speech Discover a Residence on Substack: Platforms with extra lenient content material moderation insurance policies, like Substack, present fertile floor for the unfold of hateful rhetoric and false info – a recognized catalyst for offline hurt and violence. (ADL)
• How Syria’s rebels overcame years of a bloody stalemate to topple Assad: The Syrian regime’s collapse got here extra shortly than the rebels had dreamed — the circumstances have been each serendipitous and half of a bigger international realignment. (Washington Publish)
• Is There One thing Extra Radical than MAGA? JD Vance Is Dreaming It. In a candid collection of conversations, Vance revealed an ominous philosophy behind his first 12 months in workplace. (Politico)
• How America Created the Enemy It Feared Most: America killed its personal allies, sabotaging itself in part of Afghanistan the place it by no means wanted to be. (New York Instances)
• Legalization of on-line sports activities betting generates an 8% improve in bank card debt amongst sports activities betters. The poor are disproportionately affected: low revenue households spend 32% extra on betting than excessive revenue households. (“Playing Away Stability: Sports activities Betting’s Influence on Susceptible Households“) (SSRN)
You should definitely take a look at our Masters in Enterprise interview this weekend with Sunaina Sinha, International Head of Personal Capital Advisory at Raymond James. She was named one of many 50 Most Influential Individuals in Personal Fairness for two years in a row by Dow Jones Personal Fairness Information, and earned a spot as one of many Twenty Trailblazing Girls in Personal Fairness in 2023.
U.S. Wealth Inequality: Gaps Stay Regardless of Widespread Wealth Positive aspects
Supply: Federal Reserve Financial institution of St. Louis
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