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Economic Surplus

Socialist Economics

Debating Whether Capitalism Shrinks Inequality

n the March 23 article headlined “Capitalism Will Shrink Inequality. In Fact, It’s Happening,” Bloomberg View columnist Noah Smith made the case that economic growth based on free markets doesn’t inevitably lead to greater inequality, and that the latest evidence from the developing world actually points in the opposite direction. Smith’s Bloomberg View colleague Cathy O’Neil took issue with his argument. They discussed it by email.

Why capitalism clings to fossil fuels

WHO CAN forget the image? George W. Bush's stupid, blank face staring out across the deck of the aircraft carrier USS Abraham Lincoln under a giant banner emblazoned with the words "Mission accomplished."

The date was May 1, 2003--a little over a month after the U.S. launched its invasion of Iraq--and Bush was there to declare an end to major combat operations. As it turned out, this was somewhat premature.

Diesel and petrol prices increase

PETALING JAYA: Fuel prices are up across the board for the fourth week of April under the new weekly pricing mechanism.

The price of RON95 petrol has gone up by three sen to RM2.27 per litre compared to RM2.24 last week, while the price of RON97 petrol has gone up by two sen to RM2.54 compared to RM2.52 per litre last week.

The price of diesel has also increased, with a five sen increase to RM2.21 this week compared to RM2.16 per litre last week.

The new prices will come into effect on Thursday and will remain in effect until April 26.

Hike of fuel prices: On a glide path?

iking fuel prices at petrol pumps is such a politically fraught exercise that there is even a hesitation to decrease prices so as to safeguard against a possible spike in global petroleum rates in the future. It is worth watching, therefore, how the proposed pilot project by the three public sector oil marketing companies — Indian Oil, Bharat Petroleum and Hindustan Petroleum — proceeds as an effort to reform the pricing mechanism. Starting next month, in select cities fuel prices at the pump point will be reset daily in tandem with global oil price movements.

New petrol price mechanism will not impact PetDag's earnings

KUALA LUMPUR: The newly-implemented weekly petrol price mechanism will not impact Petronas Dagangan Bhd (PetDag) in terms of its earnings.

Its chairman, Md Arif Mahmood, said there is technically "no new mechanism", as the price of petrol is still determined by a floating system. The only thing that has changed is the duration between announcements of price changes.

Md Arif said the new timeline will reduce the volatility of retail petrol prices and allow it to be better managed by dealers.

Don’t Bet on Cheaper Airfare After United’s Scandal

United Airlines is embroiled in controversy following the posting of a video showing a passenger being dragged off a flight by aviation police, bloodying his face in the process. But despite social media calls for a boycott and an initial stock tumble, the airline seems likely to recover from the scandal.

How Online Shopping Makes Suckers of Us All

Will you pay more for those shoes before 7 p.m.? Would the price tag be different if you lived in the suburbs? Standard prices and simple discounts are giving way to far more exotic strategies, designed to extract every last dollar from the consumer.

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