American freelancers could be in for a summer surprise. The Department of Labor under President Joe Biden has pitched a rule that would classify many gig workers as traditional employees, and Biden’s pick for the next secretary of labor backs such a policy. The proposal could secure benefits for freelancers. Yet those perks come at a price to them and the economy in general. As these gigs grow, a rushed rethink could do needless harm to millions of workers.
The European Union’s debt credibility is suffering from rising doubts, as well as rising rates. While yields are up across the 27-nation bloc, its jointly issued bonds now trade above those of France instead of roughly parallel. To close the spread the EU needs a shift in investor mindsets, and to make good on some revenue-raising promises.
At one point in Homer’s Odyssey, the hero has to steer his ship between twin dangers: Scylla, a multi-headed monster, and the whirlpool of Charybdis. Leaders of the Group of Seven rich countries meeting this month in Hiroshima may feel they are in a similar situation when it comes to China. They don’t want Beijing to invade Taiwan; but they also want to avoid war with the People’s Republic.
SEC Chair Gary Gensler might be feeling heat over a court deadline to explain how securities laws apply to digital assets. Sometimes procrastination is the best strategy, Anita Ramaswamy writes.
Monetizing children on social media is hard, more so for Mark Zuckerberg: He’s having a hard time encouraging kids to come onto his networks and stay in the first place, Anita Ramaswamy writes.