You are here

Economics

Andy Singer | Consumer Couple Go Off Cliff / media.cagle.com

Andy Singer | Consumer Couple Go Off Cliff / media.cagle.com

Section(s): 

Poverty Is Not Inevitable: What We Can Do Now to Turn Things Around

Having poor people in the richest country in the world is a choice. We have the money to solve this. But do we have the will?

Dean Paton, Yes! Magazine

%2522%40%2522%20Logo%20with%2010%20yr%20banner.jpgTo stay on top of important articles like these, sign up here to receive the latest updates from all reader supported Evergreene Digest.

3922730610_06438fdbe7_b.gif/imagePearl Street, New York City. "This little girl and this man (I assume homeless) were talking, and they were laughing, smiling, and loving every minute of it," writes photographer Eric Magnuson. "The little girl couldn't care less what the man looked like or what situation he was in. She just saw him as another person." Photo by Eric Magnuson.

Aug 21, 2014 | Inequality and poverty are suddenly hot topics, not only in the United States but also across the globe. Since the early 1980s, there has been a growing underclass in America. At the same time a much smaller class, now called the superrich, built its wealth to levels of opulence not seen since France’s Louis XVI. Despite this, the resulting inequality went mostly unnoticed. When the Great Recession of 2008 hit, and the division between the very wealthy and the rest of us came starkly into focus, various people and groups, including the Occupy movement, began insisting more publicly that we tax wealth. But still, helping the poor has been mostly a discussion on the fringes. At last, the terms of public debate have changed, because inequality and poverty now are debated regularly in the mainstream media and across the political spectrum, not solely by labor, by the left, and by others imagining a new economy.

Inserting such a controversial topic into mainstream discourse is French economist Thomas Piketty. His 700-page tome, Capital in the Twenty-First Century, shocked everyone this year when it made The New York Times bestseller list and bookstores found themselves backordering an economics book for legions of eager readers. Piketty did exhaustive searches of tax records from Great Britain, France, and the United States, going as far back as the late 18th century

why-poverty-is-not-inevitable/image_preview.gifAmerica Keeps People Poor on Purpose: A Timeline of Choices We've Made to Increase Inequality

in France. Using sophisticated computer modeling and analyses, the professor from the Paris School of Economics debunks a long-held assumption—that income from wages will tend to grow at roughly the same rate as wealth—and instead makes a compelling case that, over time, the apparatus of capitalism grows wealth faster than wages. Result: Inequality between the wealthy and everyone else will widen faster and faster; and, without progressive taxation, his data show we’ll return to levels of inequality not seen since America’s Gilded Age.

Dean Paton wrote this article for The End of Poverty, the Fall 2014 issue of YES! Magazine. Dean is executive editor of YES!

Full story … 

Section(s): 

Kochonomics: Koch Goes Local

Politics%20Banner.jpg

  • The Koch Brothers Are Rigging The System At The Local Level No Matter Who It Hurts
  • The Kochs’ Fig Leaf

Center for American Progress (CAP) Action Fund 

/Thank%20You%20%28Lg%29%20w%3A10%20yr%20banner.jpgThis article is made possible with the generous contributions of all reader supported Evergreene Digest readers like you. Thank you!

Jeff%20Danziger%20%7C%20Koch%20Brothers-%20Spewing%20Their%20Garbage%20Against%20Us.jpgAugust 19, 2014 | Much has been written about the efforts of billionaires Charles and David Koch to exert influence at the highest reaches of government through shadow groups, lobbying, political action committees, think tanks, and more.

In recent years, the Koch brothers have expanded their efforts to another area as well: local elections and local government. Through their front groups, most notably Americans For Prosperity (AFP), the Koch network has waded into county tax debates, city transportation decisions, and even school board elections. As Eli Miller, director of the Ohio chapter of AFP, put it: “There is no issue we won’t get involved in.”

The Center for American Progress Action Fund is an independent nonpartisan education and advocacy organization dedicated to improving the lives of Americans through ideas and action.

Full story … 

Related:

The Kochs’ Fig Leaf, Think Progress

images/pr-banner.png

  • Americans For Prosperity Fesses Up To Their Dirty Agenda
  • The Koch’s goal is to keep the economic deck stacked in their favor and that means a government that only work for the wealthiest. And they will spend whatever it takes to protect their bottom line.
  • Series | Class War for Idiots, Part 1: The Roots of Stalin in the Koch Brothers and the Tea Party Movement

 

 

The Carnage of Capitalism

  • Lives are being ravaged by unregulated, free-market capitalism, in the U.S. and around the world. According to the Global Forum for Health Research, less than 10 percent of the global health research budget is spent on the conditions responsible for 90 percent of human disease.
  • Global Greed

Paul Buchheit, Common Dreams

I%20Want%20You%20with%2010%20yr%20banner.jpgIf you like reading this article, consider joining the crew of all reader-supported Evergreene Digest by contributing the equivalent of a cafe latte a month--using the donation button above—so we can bring you more just like it.

green_capitalism.jpg?itok=WnvBSqoT(Photo: flickr / cc / 401(K) 2012)

Monday, August 18, 2014 | Capitalism is expanding like a tumor in the body of American society, spreading further into vital areas of human need like health and education.

Milton Friedman said in 1980: "The free market system distributes the fruits of economic progress among all people." The father of the modern neoliberal movement couldn't have been more wrong. Inequality has been growing for 35 years, worsening since the 2008 recession, as a few well-positioned Americans have
made millions while the rest of us have gained almost nothing. Now, our college students and medicine-dependent seniors have become the source of new riches for the profitseeking free-marketers.

Paul Buchheit is a college teacher, an active member of US Uncut Chicago, founder and developer of social justice and educational websites (UsAgainstGreed.org, PayUpNow.org, RappingHistory.org), and the editor and main author of "American Wars: Illusions and Realities" (Clarity Press).

263fe7d0f0e40c0321b799a4dbd97ae1.portrait.jpgFull story … 

Related:

The rich want us to believe their wealth is good for us all, George Monbiot , The Guardian

  • As the justifications for gross inequality collapse, only the Green party is brave enough to take on the billionaires’ boot boys.
  • The U.S. Is Even More Unequal Than You Realized.

 

The rich want us to believe their wealth is good for us all

  • As the justifications for gross inequality collapse, only the Green party is brave enough to take on the billionaires’ boot boys.
  • The U.S. Is Even More Unequal Than You Realized.

 

George Monbiot, The Guardian

 

%2522%40%2522%20Logo%20with%2010%20yr%20banner.jpgTo stay on top of important articles like these, sign up here to receive the latest updates from all reader supported Evergreene Digest.

  •  
  • robin-hood-Campaigners-ge-011.jpg‘However grotesque inequality becomes, political norms shift to defend it.’ Tax campaigners in London last year. Photograph: David Sandison

Tuesday 29 July 2014 | When inequality reaches extreme and destructive levels, most governments seek not to confront it but to accommodate it. Wherever wealth is absurdly concentrated, new laws arise to protect it.

In Britain, for example, successive governments have privatised any public asset that excites corporate greed. They have cut taxes on capital and high incomes. They have legalised new forms of tax avoidance. They have delivered exotic gifts such as subsidised shotgun licences and the doubling of state support for grouse moors. And they have dug a legal moat around the charmed circle, criminalising, for example, the squatting of empty buildings and most forms of peaceful protest. However grotesque inequality becomes, however closely the accumulation of inordinate wealth resembles legalised theft, political norms shift to defend it.

George Monbiot is an English writer, known for his environmental and political activism. He is the author of the bestselling books The Age of Consent: A Manifesto for a New World Order and Captive State: The Corporate Takeover of Britain.

Full story …

Related:

The U.S. Is Even More Unequal Than You Realized, Maxwell Strachan, Huffington Post 

  • When it comes to income inequality, no other developed economy does it quite like the U.S.A. If you need some proof, here it is.
  • America’s rotting empire
  • What's a Union For?

Special Project | America's Economic Crisis: Week Ending August 3, 2014

  • “…it seems that our remedies are instinctively those which aggravate the sickness: the remedies are expressions of the sickness itself“. --Thomas Merton
  • 9 New Items including:
    • Corporate Artful Dodgers
    • Virtual Economy’s Phantom Job Gains Are Based on Statistical Fraud
    • Austerity Is Poisoning The Economy, In 2 Charts
    • The Deteriorating Economic Outlook
    • The Crash of 2016 Gets Closer Every Day
    • What the EFM is going on in Michigan?
    • America's Economic Crisis, June 30, 2014
    • The U.S. Is Even More Unequal Than You Realized
    • US Economy Contracted  By 1 Percent In First Three Months Of 2014

Compiled by David Culver, Ed., Evergreene Digest

Rick McKee144693_600.jpg

Corporate Artful Dodgers, Paul Krugman, New York (NY) Times

  • Tax Avoidance du Jour: Inversion
  • None of this has anything to do with investment and job creation. 
  • Virtual Economy’s Phantom Job Gains Are Based on Statistical Fraud

###

Virtual Economy’s Phantom Job Gains Are Based on Statistical Fraud, Paul Craig Roberts, Institute for Political Economy

  • And More Fraud Is in the Works
  • America has left us. We now have the tyranny of the Orwellian state that rules, not by the ballot box and Constitution, but by force and propaganda.

###

Austerity Is Poisoning The Economy, In 2 Charts, Mark Gongloff, Huffington Post

  • "Congress has severely damaged the economy with deep spending cuts in a misguided attempt to solve a short-term debt crisis that simply does not exist," wrote Center for American Progress (CAP) economists Harry Stein and Adam Hersh.
  • How Austerity Wrecked the American Economy

###

The Deteriorating Economic Outlook, Paul Craig Roberts, Dave Kranzler, and John Williams, Institute for Political Economy

  • The first quarter contraction, especially our corrected number, implies a second quarter negative real GDP. In other words, the years of Quantitative Easing (money printing) by the Federal Reserve has not resulted in economic recovery from the 2008 downturn and has not prevented further contraction.
  • The Crash of 2016 Gets Closer Every Day

###

The Crash of 2016 Gets Closer Every Day, Thom Hartmann, OpEdNews

  • How our corporate overlords are setting us up to fail (again)
  • While profits soar, wages continue to stagnate and anti-tax zealots gut the safety net — a recipe for disaster.
  • America's Economic Crisis, June 30, 2014

###

Adam Zyglis 

###

What the EFM is going on in Michigan? Margaret Flowers and Kevin Zeese, Clearingthefog on Mixcloud

This week's (June 27) Clearing the FOG is described as "We take a look at the disturbing trends in Michigan. Emergency Financial Managers are being appointed by the governor to run cities and school boards, particularly in black majority communities, in a dictatorial fashion."  

Guests: Claire McClinton, Rev. Ed Pinkney, Maureen Taylor and Tom Stephens

###

America's Economic Crisis, June 30, 2014Compiled by David Culver, Ed., Evergreene Digest

  • “…it seems that our remedies are instinctively those which aggravate the sickness: the remedies are expressions of the sickness itself“. --Thomas Merton
  • Part 1: US Economic Output  Tumbled By 2.9 Percent In The First Quarter 
  • Part 2: A New Recession And A New World Devoid Of Washington’s Arrogance?

###

The U.S. Is Even More Unequal Than You Realized, Maxwell Strachan, Huffington Post 

  • When it comes to income inequality, no other developed economy does it quite like the U.S.A. If you need some proof, here it is.
  • America’s rotting empire
  • What's a Union For?

###

US Economy Contracted  By 1 Percent In First Three Months Of 2014, Andre Damon, World Socialist Website

  • Nearly six years after the 2008 financial meltdown, the US economy remains mired in stagnation and slump. Behind the booming stock market and record corporate profits and CEO pay, daily life for broad sections of the population is dominated by unemployment, falling wages and growing poverty
  • America’s rotting empire

 
Section(s): 

Corporate Artful Dodgers

New%20Economic%20Perspectives%20banner.jpg

  • Tax Avoidance du Jour: Inversion
  • None of this has anything to do with investment and job creation. 
  • Virtual Economy’s Phantom Job Gains Are Based on Statistical Fraud.

Paul Krugman, New York (NY) Times

I%20Want%20You%20with%2010%20yr%20banner.jpgIf you like reading this article, consider joining the crew of all reader-supported Evergreene Digest by contributing the equivalent of a cafe latte a month--using the donation button above—so we can bring you more just like it.

July 27, 2014 | In recent decisions, the conservative majority on the Supreme Court has made clear its view that corporations are people, with all the attendant rights. They are entitled to free speech, which in their case means spending lots of money to bend the political process to their ends. They are entitled to religious beliefs, including those that mean denying benefits to their workers. Up next, the right to bear arms?

There is, however, one big difference between corporate persons and the likes of you and me: On current trends, we’re heading toward a world in which only the human people pay taxes.

The Nobel Prize-winning New York Times Op-Ed columnist Paul Krugman comments on economics and politics.

Full story … 

Related:

Virtual Economy’s Phantom Job Gains Are Based on Statistical Fraud, Paul Craig Roberts, Institute for Political Economy 

  • And More Fraud Is in the Works
  • America has left us. We now have the tyranny of the Orwellian state that rules, not by the ballot box and Constitution, but by force and propaganda.


 

 

Virtual Economy’s Phantom Job Gains Are Based on Statistical Fraud

New%20Economic%20Perspectives%20banner.jpg

  • And More Fraud Is in the Works
  • America has left us. We now have the tyranny of the Orwellian state that rules, not by the ballot box and Constitution, but by force and propaganda.

Paul Craig Roberts, Institute for Political Economy

Submitted by Evergreene Digest Contributing Editor John Stoltenberg

btn_donateCC_LG.gif At a time when corporations are buying up elections - not to mention the 24-hour news cycle - help ensure that a source for truly independent journalism lives on. Support all reader supported Evergreene Digest today by using the donation button in the above right-hand corner. 

img/book.jpg July 7, 2014 | Washington can’t stop lying. Don’t be convinced by last Thursday’s job report that it is your fault if you don’t have a job. Those 288,000 jobs and 6.1% unemployment rate are more fiction than reality.

In his analysis of the June Labor Data from the Bureau of Labor Statistics, John Williams (www.ShadowStats.com) wrote that the 288,000 June jobs and 6.1% unemployment rate are “far removed from common experience and underlying reality.” Payrolls were overstated by “massive, hidden shifts in seasonal adjustments,” and the Birth-Death model added the usual phantom jobs.

Paul Craig Roberts was Assistant Secretary of the Treasury for Economic Policy and associate editor of the Wall Street Journal. He was columnist for Business Week, Scripps Howard News Service, and Creators Syndicate. 

Full story … 

Related:

Austerity%20Measures%20Graphic.jpgAusterity Is Poisoning The Economy, In 2 Charts, Mark Gongloff, Huffington Post

  • "Congress has severely damaged the economy with deep spending cuts in a misguided attempt to solve a short-term debt crisis that simply does not exist," wrote Center for American Progress (CAP) economists Harry Stein and Adam Hersh.
  • How Austerity Wrecked the American Economy

 

Pages

Subscribe to Economics