economicsFriday, July 17, 2026
A ballot measure to tax billionaires is the big economic story today, pitting revenue needs against fears of capital flight. Meanwhile, public pessimism about the economy persists despite strong markets, and the Iran war continues to ripple through global supply chains.
California's proposed wealth tax is the day's most consequential domestic economic story, with implications for state competitiveness and federal tax policy.
California's November ballot measure for a 5% tax on billionaires is the first of its kind in the U.S. Critics warn it could drive out wealthy residents and hurt the state's economy, while supporters see a revenue windfall. The outcome could set a precedent for other states.
The disconnect between economic data and public sentiment persists, while the Iran war continues to reshape energy and critical mineral markets.
A CNBC survey shows 61% of Americans are pessimistic about the economy, matching post-pandemic lows, despite a booming stock market and cooling inflation. Trump's approval on economic handling is deeply negative, though Democrats haven't capitalized on it.
Iran has reportedly asked the Houthis to ready a blockade of the Bab el-Mandeb Strait if the U.S. strikes its power grid. With Hormuz already disrupted, closing the Red Sea chokepoint would threaten roughly 25% of global oil and gas shipments.
China's export controls have cut U.S. yttrium shipments by 95%, and industry executives warn of production halts by year-end. The AI chip boom is now hostage to Beijing's discretion over critical rare earths.
AI Is a Productivity Engine for the US Economydatainnovation.org
Organization Design for Complex Worlds — an interactive walkthroughjonlib.com
Spend $2 Billion, Make $8 Billion: The New Presidential Mathnewsletter.platypuseconomics.com
Burnham's 'Manchesterism' got him to No 10 - but will it work for the UK?www.bbc.co.uk
Data centers are 'lowering costs' for the average American, Manhattan Institute economist says | Fox Business Videowww.foxbusiness.comSpain and Argentina Share a Common Language and Love for Soccer—but Not Much Elseforeignpolicy.com
Their teams will face off in the upcoming FIFA Men’s World Cup final.
SBA reminds Colorado businesses of disaster loan deadline for Lee and Elk Fires impactbusinessdailynetwork.com
The U.S. Small Business Administration has announced an Aug. 18 deadline for Colorado small businesses affected by last year’s Lee and Elk Fires to apply for federal disaster loans. Eligible applicants may receive working capital support through low-interest Economic Injury Disas
Armenia increases subsidies for South Caucasus Railway, Russia concession remains on Holdjam-news.net
Under the concession agreement signed with Russia, the Armenian government partially compensates the annual losses of the company operating the country's railway network. Analysts argue that now is not the time to escalate tensions with Moscow.
School of Humanities, Arts, and Social Sciences welcomes six new faculty for 2026news.mit.edu
New professors join the Comparative Media Studies/Writing, Economics, Linguistics, and Music and Theater Arts departments.
Latin America’s Oil Boomforeignpolicy.com
Some exporters are reaping financial benefits amid the Iran war.
A Phone is a Cowmarginalrevolution.com
Philip Auerswald’s A Phone is a Cow is three books in one, it’s a history of the mobile phone, it’s a business biography of Iqbal Quadir, who brought the cell phone to Bangladesh at at time when that seemed quixotic and doomed to fail, and it’s a theory of economic growth. It suc
Mahmood called for banker bonus tax to fix youth unemploymentwww.cityam.com
Shabana Mahmood has previously called for a tax on banker bonuses to fix youth unemployment in a move that will renew fears the sector could be targeted for a cash grab. The front-runner to be Andy Burnham’s Chancellor was a staunch supporter of a bill set out by Labour in opposi
The Latest Merger: Annual Reviews Acquires Underline Sciencescholarlykitchen.sspnet.org
Annual Reviews have been on a steady growth trajectory these last few years, so we sat down with Richard Gallagher to learn more about their latest acquisition. The post The Latest Merger: Annual Reviews Acquires Underline Science appeared first on The Scholarly Kitchen .
FTSE 100 Live: Stocks to drop after IEA warns of ‘critical’ oil issuewww.cityam.com
Welcome back to the City AM liveblog. Oil is on track to gain around 12 per cent for the week after the continued escalation of strikes between the US and Iran. Brent crude – the international benchmark for oil – is holding steady around the $85 per barrel mark after US’ multiple
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