Mammon category archive
Supply Change, Reprise 0
The Washington Monthly explores why, even as we as shoppers are greeted by shortages and empty shelves at our grocery stores, farmers are dumping milk and killing livestock because they are unable to get them to market.
They pose this questions; follow the link to see how they answer it:
(Syntax error corrected.)
Turning Trickles on Wall Street 0
Thom discusses the path from trickle on economics to our botched response to COVID-19.
The Art of the Steal 0
The Las Vegas Sun warns that scammers are determined to go viral with your stimulus check (and anything else they can get their paws on.
The Privatization Scam 0
Scott Maxwell tells the tale of a highway project in Orlando, Florida, in which it looks as if the primary thing being privatized is the public’s money. Here’s a bit:
It turns out they’re doing neither.
Part of the project is already a year behind schedule. Five workers have been killed. More than 1,000 drivers and property owners have filed claims for everything from misplaced barrels to chunks of concrete that fell through windshields.
And now there are $125 million in overruns — with no guarantee there won’t be more.
One Insure Thing 0
Wendell Potter, at one time a flack for CIGNA, reminds us that for profit insurance companies exist for profit. They don’t want you to get sick, and, if you do, they don’t want to take care of you. Here’s a bit (emphasis added):
The Snaring Economy 0
The Inky reports on the lack of protections–sick leave, worker’s comp, etc.–for those ensnared in the “gig” economy. Here’s a snippet (emphasis added):
(snip)
But even as their work is deemed “essential” in the face of government-mandated business closures, the delivery workers who power these apps are in a precarious position. There is no law that requires companies such as Instacart or GoPuff to keep their workers safe on the job. And if they get sick or hurt on the job, they do not qualify for sick pay or worker’s compensation. That’s because most app-based gig workers are classified — or misclassified, depending on whom you ask — as independent contractors, who aren’t afforded the same legal protections as employees.
I was an independent contractor for several years, designing and delivering training for several clients. I paid quarterly estimated income tax installments and my own health insurance premiums.
Delivering pizza for a pittance (plus tips) because it’s the only work you can find is not the same thing.
Masked Marauding 0
Farhad Manjoo investigates why an item so simple as a medical face mask is suddenly unobtainable, and the answer is all about the next quarterly report. It’s what Harry Shearer’s guest on Le Show, Matt Stoller, referred to as the “financialization” of business.
Here’s a bit; follow the link for the rest.
I am sorry to say that digging into the mask shortage does little to assuage one’s sense of outrage. The answer to why we’re running out of protective gear involves a very American set of capitalist pathologies — the rise and inevitable lure of low-cost overseas manufacturing, and a strategic failure, at the national level and in the health care industry, to consider seriously the cascading vulnerabilities that flowed from the incentives to reduce costs.