A huge congratulations to our board member Simon Johnson and his fellow laureates Daron Acemoglu and James Robinson on receiving the Nobel Prize! 🎉 A well-deserved honor!

Click-to-Cancel is one of those things that sounds minor but is at the heart of many of the frustrations of American life. Corporations were taking our money, we didn't want them to, and we couldn't stop them. Now we can.

And you can basically ignore Ireland's GDP data, so the US truly stands out for extraordinary economic performance in recent years, in significant part because its fiscal stimulus was on an appropriate scale.

Taxing the rich is the fair thing to do, and it can also be the pro-growth thing to do! Shayna Strom, David S. Mitchell and I have a new paper out today explaining how progressive taxation can help boost strong, durable, inclusive economic growth. Thread! equitablegrowth.org/research-paper…

One more paper showing sellers’ inflation!

'50 years of tax cuts for the rich failed to trickle down, economics study says' --CBS News cbsnews.com/news/tax-cuts-…

So Intuit spending millions lobbying against a free tax filing option is fine, but a reporter asking them a straightforward question about their lobbying efforts is “inappropriate,” “egregious,” and “disappointing." 🫠 theverge.com/2024/10/21/242…

American workers are often monitored by devices and software installed by their employers, outsourcing job decisions to background dossiers, algorithms, and AI. Today, @CFPB and U.S. Department of Labor are announcing new efforts to tackle unchecked worker surveillance. consumerfinance.gov/about-us/newsr…

Has pay kept up with the cost of living? Most voters say "no." Many economists, pointing to data on real wages, say "yes." But it turns out it's a surprisingly difficult question to answer. Whose pay? Whose cost of living? Over what time period? My story trying to unpack the

82% of Americans support rent caps. 4 in 5 Americans, across age, geography, political party. It's hard to imagine a more unifying issue. The rent is too damn high, everyone knows it, and everyone is aligned about the urgent solution: rent caps. redfin.com/news/survey-ho…

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LFG—congrats @lenorepalladino!!! press.uchicago.edu/ucp/books/book…

“Adjust pricing strategies” is code for “use disruption of tariffs as latest opportunity to rip the faces off your customers with price increases wildly beyond rises in input costs”

.Isabella M Weber in New York Times Opinion w an impt warning as we face massive tariffs… “The sudden news of cost shocks…grants companies more freedom to coordinate price hikes across sectors bc they realize that their rivals are very likely going to do the same.” nytimes.com/2024/11/12/opi…

The best defense against inflation is a good offense.

NEW PAPER: The 2022 fossil fuel price jumps caused an oil and gas profit explosion. We show the US reaped the largest profit increase (USD 275bn) of any country. Big Oil claims this benefits the American people. In fact, 51% went to the richest 1%, only 1% to the bottom 50%. A 🧵

The tariff shock will create an opportunity for sellers’ inflation 2.0. It functions like the pandemic cost shocks. There will be plenty of confusion on the part of consumers. Prices will rise promptly but inventories were bought at pre-tariff costs. This alone means windfalls.

Trump calls it a “little disturbance.” His Treasury Secretary says it’s a “detox period.” Let’s call it what it is: a billionaire-manufactured recession. Trump’s rich friends can weather these dips and come out on top. But normal American families will end up worse off. (2/8)

*so* excited to be a part of this new Ms. Magazine podcast with carmen f*cking rios 🚬👑🦄 tracing the last 50 years of the feminist movement. Tune in July 4th for the launch!

On Common Wealth's beautiful new website a US update: Rakeen Mabud is now a CW Associate Fellow. Rakeen is an esteemed economist and thinker on the political economy of everyday life. We are excited to work with her on inclusive liberalism and state reconstruction post-Trump.