Rankled by federal funding to National Public Radio and the Public Broadcasting Service? Check out the People’s Daily, owned by China’s Communist Party, which hopes to raise $245 million in a public offering of shares in its online news business.
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Abusive labor practices were uncovered at Foxconn, the massive electronics supplier that produces many Apple Computer products, after a recent Fair Labor Association investigation. So why were employees used to working 70 to 80 hours a week angry after Foxconn announced it would limit the work week to 49 hours?
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Social engineering and economic tomfoolery are on display more prominently than usual in the United Kingdom amid calls for minimum prices on alcohol. “‘When beer is cheaper than water,” sermonized nanny David explained Prime Minister David Cameron, “it’s just too easy for people to get drunk on cheap alcohol at home before they even set foot in a pub.”
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Today at the New Republic, Jonathan Cohn analyzes the latest iteration of Rep. Paul Ryan’s federal budget overhaul (which our very own Jon Green parsed yesterday). Under the humble title of “The Stunning Immorality of Paul Ryan’s Budget,” Cohn argues that Ryan’s plan would “take health insurance away from tens of millions of people, while effectively eliminating the federal government except for entitlements and defense spending.”
Cohn focuses mostly on federal healthcare spending, but not before staking some big claims about tax policy Continue reading
Now-former executive Greg Smith’s departure from Goldman Sachs via the New York Times editorial page sparked a flurry of commentary, much of it restating the tired criticism that, in Mr. Smith’s words, the “toxic and destructive” firm is dominated by “morally bankrupt people” who “callously [...] talk about ripping their clients off.”
The curiosity of such a public and sanctimonious resignation aside, Mr. Smith’s argument that Goldman cares more about making money for itself than effectively serving its clients begs the question: why do clients put up with this kind of abuse? Continue reading
