As the chart beneath shows, prior midcycle development scares had been met with moderating returns, but had been adopted by reaccelerating gains as economic momentum resumed. While we wouldn’t be shocked by an episode of volatility, we expect this helps the case for getting into a quick lived market weak spot. We’d characterize this as a soft patch, not a sustained new direction for the labor market. Coupled with the downturn in recent consumer-confidence readings, this does signal potential weakness in … Read More

The idea of markets as mechanisms of social coordination is predicated on an image of all people as sovereign, absolutely knowledgeable, and fully rational choosers. Wherever this is not the case, markets can lead to the exploitation of vulnerable people https://www.businessnewsdaily.com/ by others. These arguments do not necessarily indicate an entire rejection of markets, but they increase questions concerning the wider institutional framework by which they’re embedded.

And … Read More