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Paresh Nath | Eurozone Jobs / media.cagle.com

Paresh Nath | Eurozone Jobs / media.cagle.com

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The End of U.S. Capitalism

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  • Young people can see that the (capitalistic) system does not offer any solutions. They can see that a two-party system is not working for them. But what is the alternative? We (socialists) have to provide the alternative…
  • An interview with Seattle's new socialist councilmember, Kshama Sawant.

Josh Eidelson, Salon

Kshama SawantKshama Sawant, Salon / AP/Ted S. Warren

November 18, 2013 | On November 5, Seattle voters made Occupy activist and economics professor Kshama Sawant the first avowed socialist city council member in their city’s history – and the country’s first big city socialist council member in decades. In an interview Thursday – one day before her vote count lead spurred her opponent to concede the race – Sawant slammed Obama economics, suggested she could live to see the end of U.S. capitalism, and offered a socialist vision for transforming Boeing. A condensed version of our conversation follows.

It appears you’re on the cusp of winning a major city’s council race as a socialist. How did that happen?

Josh Eidelson was a union organizer for five years. He covers labor for Salon, Nation,  and In These Times.

Full story…

Paul Krugman | A Permanent Slump?

  • What if depression-like conditions are on track to persist, not for another year or two, but for decades?
  • Why the Boeing machinists' fight matters
  • What if this is the end of recovery, the new "normal"?
  • Obama should have listened to Paul Krugman

Paul Krugman, New York (NY) Times

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Austerity graphic

November 17, 2013 | Spend any time around monetary officials and one word you’ll hear a lot is “normalization.” Most though not all such officials accept that now is no time to be tightfisted, that for the time being credit must be easy and interest rates low. Still, the men in dark suits look forward eagerly to the day when they can go back to their usual job, snatching away the punch bowl whenever the party gets going.

But what if the world we’ve been living in for the past five years is the new normal? What if depression-like conditions are on track to persist, not for another year or two, but for decades?

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

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Why the Boeing machinists' fight matters, Ari Paul, Aljazeera America

Corporate Accountability & Workplace Banner

Boeing's fight against its machinists raises a terrifying possibility about U.S. capitalism. It appears that instead of industrial growth translating into national prosperity, the United States is beginning to conform to what economists call the Iron Law of Wages, which says the natural price of labor is subsistence. The only reasonable pay for workers, the theory goes, is enough to sustain them to live and work to produce value for their bosses and nothing more.

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Obama should have listened to Paul Krugman, Walden Bello, Salon

Why the Boeing machinists' fight matters

Corporate Accountability & Workplace Banner

  • Boeing's fight against its machinists raises a terrifying possibility about U.S. capitalism. It appears that instead of industrial growth translating into national prosperity, the United States is beginning to conform to what economists call the Iron Law of Wages, which says the natural price of labor is subsistence. The only reasonable pay for workers, the theory goes, is enough to sustain them to live and work to produce value for their bosses and nothing more.
  • Paul Krugman | A Permanent Slump?

Ari Paul, Aljazeera America

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Machinist Colton Yalowicki at the Everett Machinists Union Hall during a rally on Monday, Nov. 11, 2013. Mark Mulligan/The Herald/AP

November 18, 2013 | In a one-sided vote on Nov. 13, unionized machinists in Everett, Wash., rejected a multiyear contract to build Boeing’s new 777x jetliner, choosing dignity over a paycheck. Their union — the International Association of Machinists District 751 — is opposing the profitable company's proposal that would have eviscerated workers' pensions and cut back on health care. Considered extremely long in U.S. labor relations (most contracts are for no more than five years), the eight-year contract proposed by Boeing would keep the union from striking and from negotiating for higher wages that keep up with inflation.

Boeing, in response, has threatened to move production to a nonunion state, which is why Washington has offered the company the biggest state tax subsidy in U.S. history ($8.7 billion over the next 16 years) and why union leadership urged a yes vote. The result was not only a stunning rebuke but also a testament to the gloomy idea that U.S. workers may never share in the prosperity of the companies they serve.

Ari Paul is a labour journalist in New York City, writing for the Nation, the American Prospect, al-Jazeera English and others.

Full story...

 

Related:

Paul Krugman | A Permanent Slump? Paul Krugman, New York (NY) Times

  • What if depression-like conditions are on track to persist, not for another year or two, but for decades?
  • Why the Boeing machinists' fight matters
  • What if this is the end of recovery, the new "normal"?
  • Obama should have listened to Paul Krugman
 
Section(s): 

The Superrich Don't Need Our Middle Class Infrastructure any more

  • Times have changed -- and the elites inhabit their own private economy.
  • 5 Ways Super-Rich Are Betraying America

Thom Hartmann, Truthout

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Break Through(Image: Break through via Shutterstock) 

November 5, 2013  |  America is falling apart — and this nation's super-rich are to blame.

There was once a time in America when the super-rich needed you, and me, and working-class Americans to be successful.

They needed us for their roads, for their businesses, for their communications, for their transportation, as their customers, and for their overall success. The super-rich rode on the same trains as us, and flew in the same planes as us. They went to our hospitals and learned at our schools. Their success directly depended on us, and on the well-being of the nation, and they knew it.

Thom Hartmann is an American radio host, author, former psychotherapist, entrepreneur, and liberal political commentator.

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Related:

5 Ways Super-Rich Are Betraying America, Paul Bucheit, AlterNet

This small group of takers is giving up on the country that made it possible for them to build huge fortunes.

Paul Krugman Trolls Deficit Hawks With One Amazing Chart

Mark Gongloff, Huffington Post

This article is made possible with the generous contributions of all reader supported Evergreene Digest readers like you. Thank you!

10/29/2013 | Debt scolds like Harvard economists Kenneth Rogoff and Carmen Reinhart constantly warn us that too much government debt causes terrible things like soaring interest rates and wrecked economies. History often disagrees.

Paul Krugman teased Rogoff and Reinhart about this on Tuesday with a chart he found on the Bank of England's website. It's a chart that shows 300 years of British debt and interest rates, which is just awesome in its own right, if you are the kind of geek that gets into that sort of thing. Adding to the risk of nerdgasm, the chart highlights England's "major war periods." 

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

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David Sirota | 4 Things You Need to Know About the Plot to Sell Your Pensions to Wall Street, David Sirota, AlterNet

  • What your state legislators actually mean when they start throwing around the Orwellian phrase “pension reform."
  • Now  we know the kind of corruption and damage the 'reforms' mean for taxpayers and retirees, and we know what kind of new muscle is behind the effort to bring that corruption and destruction to other states.
  • The right’s sinister new plot against pensions
  • AFL-CIO To Democrats: We'll Work To End Your Career If You Cut Social Security Or Medicare

The Surreal Logic Of The Debt Ceiling Deniers

  • The whole plan here is to hold the debt ceiling hostage in exchange for a series of demands. And they are making no offer in return -- raising the debt ceiling is what's supposed to be the concession.
  • The Reign of Morons Is Here

Jason Linkins, Huffington Post

This article is made possible with the generous contributions of all reader supported Evergreene Digest readers like you. Thank you!

10/08/2013 | Over at Slate, Dave Weigel profiles the strangest subset of the debt ceiling hostage-taker caucus -- the members of the House GOP who seem to genuinely believe that breaching the debt ceiling would be no big deal, and that everyone warning of dire economic consequences is either wrong or weaving elaborate conspiracies.

In general, the people Weigel profiles fit into a specific camp -- one that believes that the Treasury has more leeway to prioritize payments than they are letting on, and that by carefully making choices, the government can keep paying bills for a long time after the debt ceiling is breached.

Jason Linkins is a Political Reporter at the Huffington Post, covering media and politics.

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Related:

The Reign of Morons Is Here, Charles Pierce, Esquire.com

  • We have elected an ungovernable collection of snake-handlers, Bible-bangers, ignorami, bagmen, and outright frauds; a collection so ungovernable that it insists the nation be ungovernable, too. We have elected people to govern us who do not believe in government.
  • We looked at our great legacy of self-government and we handed ourselves over to the reign of morons.
  • Elizabeth Warren | This Is a Democracy
  • Special Project | The Dumbing Down of American Politics

 

 

The Top 6 Things We Could Be Doing To Kick-Start This Country

  • Here are the six steps we need to do pronto to get this country back on track. 
  • Robert Reich's 'Inequality' movie: As influential as Al Gore's blockbuster?

Brandon Weber, Upworthy

 

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October 1, 2013 | The film "Inequality for All" by economist Robert Reich pretty clearly lays out how we got here and where we need to go to fix things in our country. If you're wondering what needs to happen for jobs and our economic future, it's a must-see.

Here are the six steps we need to do pronto to get this country back on track.

Robert Reich's 'Inequality' movie: As influential as Al Gore's blockbuster? 

Brandon Weber  is  a labor union addict, educator, change catalyst, and a dreamer.

Full story…

Related:

Robert Reich's 'Inequality' movie: As influential as Al Gore's blockbuster? Rustin Thompson, Crosscut.com

  • The only comfort to be taken from this film is one of shared misery. Ninety-nine percent of us are struggling to keep our heads above water. Some of us are sitting in the lifeboat, bailing against the leaks. Some are clinging to the side. Others have lost their grip and are sinking fast. Meanwhile, all the life jackets are under lock and key on the luxury liner, sailing away into the sunset.
  • The former Labor Secretary tells a compelling story but offers few solutions.
  • Full show: Inequality for All
  • How the cult of shareholder value wrecked American business

 

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