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Not Working Makes You Ill (and Vice Versa)

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Where to find the missing workers.

Photographer: Ernest H. Mills/Getty Images

Maybe America’s Missing Workers Are Sick in Bed 

More than 11 percent of prime-age American men have dropped out of the job market, and nearly half of them use pain medications daily. Justin Fox sees a vicious circle that could affect millions: People lose their jobs — sometimes for health reasons, sometimes not — and fall into lifestyles that render them less capable of regaining them. 

Economics Nobel Rewards Theories Worth Building On

The Nobel Prize in Economics used to go to researchers with broad theories, but now, the tide is turning: The 2016 winners, Harvard’s Oliver Hart and MIT's Bengt Holmström, did “deep microeconomic stuff,” as Noah Smith says, analyzing incentives, information asymmetry, and relationships. As Smith considers the field’s shift from macro to micro, Tyler Cowen applauds the two for creating paths for improving future research.

Mass Surveillance Is Part of Yahoo’s Business Model (And It’s Not Alone)

Privacy advocates are outraged by reports that Yahoo scanned millions of users’ e-mails for American security agents, but Elaine Ou argues that spying for the government isn’t all that different from what internet companies do for advertisers.

Pity Mike Pence, But He Has a Path to Redemption

Donald Trump has been acting like his running mate is dispensable, but Margaret Carlson says he’s got the balance of power all wrong: The Indiana governor has a future in the GOP to protect, and his loyalty to the candidate might not be absolute.

The U.K.’s Dangerous New Identity Politics

Brexit has unleashed a wave of bigotry and given rise to hate crimes, and the Conservative government is fanning the flames. Pankaj Mishra examines the paradox of majoritarianism — the urge, licensed by a democratic majority, to scapegoat a minority — as it becomes an increasingly dominant force in British public life. 

Ritholtz’s Reads

  • What climate change means for investors (Barron’s)
  • Wal-Mart makes a risky bet it can loosen Amazon's grip online (Bloomberg)
  • How Wells Fargo’s rivals make it harder for employees to create fake accounts (L.A. Times)

(Read Barry Ritholtz’s full daily news roundup.)

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