Inequality

Economy

Moscow Isn’t Another Country

There is a certain Russian expression: “Москва — не Россия” (i.e. Moscow, isn’t Russia), to denote the idea that while the capital may be rich, at least by Russian standards, the rest of the country languishes in grinding poverty. This is a trope is frequently taken up by the Western media, which at times presents

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Economy

Another View of the US Economy: Observations on Exergy, GDP & Median Incomes

The standard view of the American economy is one of exponential growth: even if interrupted by a recession once a decade and a Depression once every two generations (the 1890’s, the 1930’s, the 2010’s?), the engines of industry would always come back roaring again. Output per American could always be expected to increase as it

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