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Another Failure For The Best And The Brightest
The Federal Reserve Bank recently released 1,197 pages of transcripts of its 2006 closed door meetings. As the Wall Street Journal comments: “The transcripts paint the most detailed picture yet of how...
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Confronting Savage Growth
The media is full of stories about the ever more heated debate over the best way to reignite growth: austerity or deficit spending. Paul Krugman, a leading proponent of the deficit spending side,...
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The Shrinking Government
The conventional wisdom seems to be that our biggest economic challenge is runaway government spending. The reality is that government spending is contracting and pulling economic growth down with it....
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The Election And The Economy
Its election season and Republicans and Democrats are working hard to demonstrate that they support dramatically different policies for rejuvenating the economy. While the Democratic Party’s call for...
View ArticleFree Trade As A Coroporate Project
I was recently interviewed by David Delk on his Populist Dialogue cable TV program. I shared my criticism of free trade as a corporate project, looking in particular at the Transpacific Partnership...
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Low-Wage Employment Recovery
The media has focused on the lack of jobs as a major election issue. But the concern needs to go beyond jobs to the quality of those jobs. As a report by the National Employment Law Project makes...
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The Growth Of Monopoly Power
Market advocates have had their way for years now—one of the consequences has been the growing dominance of industry after industry by a select few powerful corporations. In short, unchecked...
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The Jobs Gap
There is growing talk that the economy is finally on its way to recovery—“A Steady, Slo-Mo Recovery”—in the words of Businessweek. Here is how Peter Coy, writing in Businessweek, explains the growing...
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The Times They May be Changing
One of the biggest obstacles to improving economic conditions has been majority belief that our current economic system is capable of delivering steady improvements in living and working conditions....
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One Reason It Is Tough To Pass Progressive Legislation
Dylan Matthews, blogging in the Washington Post, discusses a very interesting paper that provides evidence showing that politicians seriously underestimate the progressivity of their constituents....
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An Economy For The 1%
The following table reveals much about the way our economic system operates. It shows that the top 1% captured 68% of all the new income generated over the period 1993 to 2012. Now that is a long time...
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Worries About Inequality
The Wall Street Journal had an interesting article about income inequality. What follows is a chart from the article which shows that average income for the bottom 90% of families actually fell by over...
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Profits Without Social Benefit
The conventional explanation for our economic problems seems to be that our businesses are strapped for funds. Greater business earnings, it is said, will translate into needed investment, employment,...
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Africa And Globalization
Economists continue to celebrate the free movement of goods, services, and capital. However, faced with slowing economic conditions in core countries, it is now third world growth that is highlighted...
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Declining Prospects For Growth
You know things are serious when leading mainstream economists and established international organizations continually revise downward their estimates for future growth. The chart below shows...
View ArticleA Critical Look At Capitalist Globalization
My latest article, on capitalist globalization, appears in the current issue of the journal Critical Asian Studies. For a limited time the journal is making it freely available. Here is the abstract...
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The Growth Of Monopoly Power
Market advocates have had their way for years now—one of the consequences has been the growing dominance of industry after industry by a select few powerful corporations. In short, unchecked...
View ArticleClik here to view.
The Jobs Gap
There is growing talk that the economy is finally on its way to recovery—“A Steady, Slo-Mo Recovery”—in the words of Businessweek. Here is how Peter Coy, writing in Businessweek, explains the growing...
View ArticleClik here to view.
The Times They May be Changing
One of the biggest obstacles to improving economic conditions has been majority belief that our current economic system is capable of delivering steady improvements in living and working conditions....
View ArticleClik here to view.
One Reason It Is Tough To Pass Progressive Legislation
Dylan Matthews, blogging in the Washington Post, discusses a very interesting paper that provides evidence showing that politicians seriously underestimate the progressivity of their constituents....
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