A new study from the United Way claims that 43% of American households are in a status called "asset limited, income constrained, employed" (ALICE), which denotes employed people who can't afford housing, food, childcare, healthcare, transportation, and a cellphone — the basics of modern living.
Umair Haque (previously) writes about how the last days of the Soviet Union were filled with "forced apathy" (an inability to care about what was going on because just surviving took everything you had) and "self-referentialism" (an obsession with domestic affairs to the exclusion of everything else going on elsewhere in the world) — Read the rest
Umair Haque (previously) is in the unfortunate position of being both inarguably correct and horribly depressing when he says "catastrophic climate change is probably inevitable."
Umair Haque (previously) is on fire: If the Point of Capitalism is to Escape Capitalism, Then What's the Point of Capitalism? "You can see it in stark, comic terms. What are Bezos and Musk doing? Trying to flee to Mars. — Read the rest
Americans' median income is $60,000 — but the average American couldn't stump up $500 to bail themselves out of an emergency, and a third of Americans can't afford food, shelter and healthcare.
Here's a fabulous interview with activist Sarah Kendzior, a journalist and researcher who made a great, concise argument against unpaid internship as a series of four tweets last June. Policymic talks with Kendzior about her work on the "prestige economy" and the widening wealth-gap, and also talks about the theory of presenting arguments over Twitter, a subject on which Kendzior is every bit as smart as she is on matters economic and political.
The Washington Post today published several big scoops related to the National Security Agency's surveillance programs. The paper's investigations were triggered by documents leaked to them "earlier this summer" by former NSA contractor Edward Snowden. He has sought political asylum from a number of nations, and is currently in Moscow. — Read the rest
Snip from a Harvard Business blog post by Umair Haque on the digital-age business lessons to be learned from Michael Jackson's death, and analysis of the purported revenue from his career over the last three decades:
— Read the rest
Want to know why we have a zombieconomy?