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Louis Hyman

Entries by Louis Hyman

How to Protect the Working Poor From 300 Percent Interest Rates

(1) Comments | Posted October 2, 2015 | 4:09 PM

The payday loan is not, as Republican presidential candidate Ben Carson recently wrote, a "short-term loan secured by their next paycheck with an interest rate around 15 percent." Rather than 15%, payday loans, which few borrowers pay off the following week, end up with effective interest rates actually...

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Happy Workers, Happy Meals: The Strategic Case for Higher Wages at McDonald's

(1) Comments | Posted April 15, 2015 | 12:02 PM

McDonald's, the chatterbox tells us, is on its last legs. The food is bad, or at best, unfashionable. Everybody now eats at Chipotle. Moreover, it pays its employees so badly that, at least for liberals, eating there is unconscionable. The bad food, on some level, reflects bad politics (echoing a...

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In Transition: MOOCs and Non-Traditional Students

(0) Comments | Posted February 26, 2014 | 3:58 PM


Today a senior student dropped by my office hours to chat about the new MOOC on the history of capitalism that my colleague Ed Baptist and I are launching next month.

Around Cornell, there has been a lot of controversy...

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Market Values Are Not MOOC Values

(0) Comments | Posted February 11, 2014 | 10:41 AM


Co-authored by Edward Baptist, Historian, Cornell University

If, as the New York Times claimed, 2012 was the Year of the MOOC (Massive Online Open Course), then 2013 was the Year of Pushback Against the MOOC. The point versus counterpoint played out according to...

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Why Ports Are the New Factories

(60) Comments | Posted January 3, 2013 | 4:26 PM

Last month, union activists across the country celebrated what they saw as the latest opportunity to kickstart the moribund labor movement: a strike at Wal-Mart on Black Friday. Retail workers, or as Wal-Mart calls them, "associates," across the country were to walk out on the greatest shopping day of the...

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A Brief History Of Debt

(3) Comments | Posted January 25, 2012 | 10:04 AM

If you listen to our grandparents, in the old days nobody ever borrowed. Angelic models of virtue, they bought only what they could afford. The Great Depression had instilled values in them that these young people today just do not have. On some level, older Americans consider all this borrowing...

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