John Schmitt

#Introduction (2nd try)

Hi all,

I am an #economist at @epi@econtwitter.net in Washington. I focus on economic #policy, especially in the #labor market. Previously I've worked at @ceprdc@econtwitter.net and WCEG. I received a PhD in #economics from #LSE in 1993.

I'm interested in the causes and consquences of wage and income inequality in the US.

I'm also interested in international comparisons of labor market institutions and outcomes.

I'm still getting up to speed here, but I'm feeling pretty good about the future.

In 2022, Kroger, the largest supermarket chain in the US announced plans to acquire Albertsons, the second largest US chain, for $24.6 billion.

According to a new @epi@econtwitter.net analysis by @benzipperer@econtwitter.net: "The merger will lower wages for 746,000 grocery store workers in over 50 metropolitan areas [because] increased concentration will suppress wages for all grocery store workers in affected cities—not only those workers currently employed by Kroger or Albertsons"

https://www.epi.org/publication/kroger-albertsons-merger/

Glenn Beck interviewing Trump yesterday: “Do you regret not locking [Clinton] up? And if you’re president again, will you lock people up?”

Trump: “The answer is you have no choice, because they’re doing it to us.”

Via Martin Pengelly, The Guardian:

https://www.theguardian.com/us-news/2023/aug/30/trump-interview-jail-political-opponents-glenn-beck

In the context of contract negotiations between the United Auto Workers and their employers, @DeanBaker13@econtwitter.net writes: "Think of how different the world would look if the CEOs at our largest most successful companies were pocketing $3 million a year, instead of $30 million, or even more."

https://cepr.net/negotiating-on-ceo-pay-the-uaw-has-the-right-idea/

See also, Dean's: "Imagine a World Where CEOs Get Paid $3 Million a Year"
https://braveneweurope.com/dean-baker-imagine-a-world-where-ceos-get-paid-3-million-a-year

#CEOpay #UAW

"The Economic Policy Institute mourns the passing of AFL-CIO chief economist and Howard University professor William Spriggs"

"Spriggs was a fierce proponent of racial and economic justice whose influence as a public intellectual and economist reached across academia, labor, think tanks, positions in the Clinton and Obama administrations, and the civil rights community."

An enormous loss.

https://www.epi.org/press/the-economic-policy-institute-mourns-the-passing-of-afl-cio-chief-economist-and-howard-university-professor-william-spriggs/

New Economic Policy Institute ( @epi@econtwitter.net ) report on the recent surge in union organizing and strike activity in the United States.

Lots of interesting data. This chart shows the role that the decline in union membership has played since 1979 in slowing wage growth for the typical US worker. If union membership had held steady, wages would have been 8% higher by 2017.

https://www.epi.org/publication/summer-strike-activity/

#unions #laborday #economics

New analysis by @epi@econtwitter.net's @benzipperer@econtwitter.net of the Raise the Wage Act, which would increase the US federal minimum wage from its current level of $7.25 per hour to $17 per hour in 2028.

Key numbers:

Number of workers affected
27,858,000

Share of U.S. workforce affected
19%

Total additional wages provided
$86 billion

Average increase per worker
$3,100

https://www.epi.org/publication/rtwa-2023-impact-fact-sheet/

A U.S. "Domestic Workers Chartbook" out today from my @epi@econtwitter.net colleagues Asha Banerjee, Katherine DeCourcy, Kyle K. Moore, and Julia Wolfe.

Provides a comprehensive look at demographics, wages, incomes, benefits, and poverty levels, including comparisons to workers in other occupations.

https://www.epi.org/publication/domestic-workers-chartbook-2022/

Congressional district level estimates of the impact of increasing the minimum wage to $17 by 2028 (as proposed by the Wage the Raise Act).

Includes total number of workers receiving a wage increase by 2028, and the average annual wage increase of affected workers.

Via @benzipperer@econtwitter.net @epi@econtwitter.net

https://www.epi.org/publication/rtwa-2023-impact-by-cd/

#MinimumWage #RaiseTheWageAct

Via El País:

"La Corte Suprema chilena ha condenado...a 7 exmilitares del Ejército como autores del secuestro y homicidio del cantautor Víctor Jara en vísperas de que se cumplan...50 años del crimen, perpetrado...pocos días después del golpe de Estado que en septiembre de 1973"

"el cantautor tenía 56 fracturas óseas y 44 balas en su cuerpo"

https://elpais.com/chile/2023-08-28/condenanos-por-el-asesinato-de-victor-jara-siete-exmilitares-chilenos.html

#SalvadorAllende #AugustoPinochet

A four-part webinar series on the "Continuing Struggle for Jobs and Freedom" from the Center for Economic and Policy Research (@ceprdc@econtwitter.net).

(1) The Forgotten History of March for Jobs and Freedom
https://www.youtube.com/watch?v=0L633j80IK4

(2) The Continuing Struggle for Jobs
https://www.youtube.com/watch?v=gRRKl47KgYk

(3) The Continuing Struggle for Freedom
https://www.youtube.com/watch?v=I_WN4_vzDHk

(4) Evaluating Our Progress on Jobs and Freedom and Needed Next Steps
https://www.youtube.com/watch?v=Vz-Q5bjCRrU

#economics #RacialJustice #MarchOnWashington #ceprdc

Reading Astra Taylor's excellent "Democracy May Not Exist, But We'll Miss It When It's Gone."

In the middle of all these court cases, I'm struck by the clarity and simplicity of this half sentence: "Under even marginally more democratic structural conditions, a demagogue like Trump probably wouldn't stand a chance..."

#ElectoralReform #VotingRights

@kcivey@mastodon.social @theprospect@mastodon.world

Ahh, you're right! Sorry about that. Definitely does not appear to be active, which is a shame.

Via The Cornell Daily Sun: "Cornell [University] will be terminating its partnership with Starbucks no later than the expiration of its current contract, Student Assembly President Patrick Kuehl ’24 announced in an Aug. 16 email to the student body. The contract is set to expire in June 2025."

https://cornellsun.com/2023/08/16/cornell-to-end-partnership-with-starbucks-by-june-2025/

#Starbucks #Union

@Midnight@mastodon.social

You are right. The issue of possible fraud and collusion between Sotheby's and others involved in the auction is a serious and legitimate concern. Thanks for helping to clarify my thinking on this.

My earlier post was motivated less by the specifics of the suit and more by my general dismay that when it comes to NFTs some people seem to have more money than sense.

@Teri_Kanefield@law-and-politics.online ♥️🔥💪💥

Via Gabrielle Gurley at The American Prospect:

"Amtrak and Texas Central are exploring a possible partnership to launch a long-anticipated high-speed rail line between Dallas and Houston."

"The Battle to Link Up Texas"
https://prospect.org/infrastructure/transportation/2023-08-24-battle-to-link-up-texas-rail/

#HighSpeedRail #Texas #PublicTransport