U.S. GDP grew at a 5.2% rate in the third quarter, even stronger than first indicated
The U.S. economy grew at an even stronger pace then previously indicated in the third quarter, the product of better-than-expected business investment and stronger government spending, the Commerce Department reported Wednesday. Gross domestic product, a measure of all goods and services produced during the three-month period, accelerated at a 5.2% annualized pace, the department’s second […]
New Technologies to Get Around Old Laws: AI Is Being Used to Evade Antitrust Rules, Fix Prices and Worse
The legal woes keep piling up for the Texas-based tech company RealPage, which is accused of using algorithmic software to enable landlords across the country to collude to inflate rents. The landmark cases will likely decide whether AI can be used to circumvent antitrust laws and evade other regulations. The Washington, DC, attorney general, Brian […]
Market Talk – November 28, 2023
ASIA: The major Asian stock markets had a mixed day today: NIKKEI 225 decreased 39.28 points or -0.12% to 33,408.39 Shanghai increased 6.85 points or 0.23% to 3,038.55 Hang Seng decreased 170.92 points or -0.98% to 17,354.14 ASX 200 increased 27.60 points or 0.39% to 7,015.20 Kospi increased 26.10 points or 1.05% to 2,521.76 […]
It’s Time to Discard Piketty’s Inequality Statistics
Thomas Piketty is well-known for his work on estimating income and wealth inequality. That work made him an “economics rockstar” in the eyes of the media, as he appeared to confirm a popular narrative about rising inequality. Piketty’s stats showed a consistent trend across the 20th-century United States. Top income and wealth concentrations followed a […]
