Yves here. Trust me, you must read this post. In its entirety. Varoufakis discusses the operation of “liberal democracy” as opposed to “classical democracy,”. and argues that voter apathy is a feature, not a bug. But the real meat is in his discussion of how the economic rights of laborers has changed over time and how that has had profound implications for democracy.
Read more...Yves here. This Real News Network segment discusses what many readers know all too well, that even a $10 minimum wage fails to provide an adequate standard of living, particularly for parents.
Read more...Yves here. Lordie, anyone who has ever been on a limited income will recognize this charity as yet another version of “let them eat cake.”
Read more...You are supporting the habits of the rich in more ways than you know, including their love of water views.
Read more...ves here. Having lived through some of these developments, I concur with Krippner’s observation that financial deregulation was well underway prior to the Reagan era and the most important driver was interest rate volatility, which wreaked havoc with interest rate caps and other policies that made sense only if inflation stayed within a limited and not all that high range. But similar deregulatory forces were underway in the securities industry side as well.
Read more...Michael Hudson discusses austerity in Ireland, how US economic policy has affected Ireland, Europe and the rest of the world as well as how the various political parties in Ireland have mishandled the economic crisis.
Read more...The headline sounds too good to be true, right?
Read more...The ignorance of many highly experienced economists to the moral foundations of their work is quite alarming.
Read more...A new Wall Street Journal story on how many men aged 25 to 54 can’t find work, fails to mention but nevertheless shellacks an embarrassing New York Fed paper released earlier this week.
Read more...Yves here. Please welcome Igancio Portes to NC. He’s a sophisticated young writer who has a sharp eye for power dynamics and is keenly interested in why the left (the genuine left as opposed to the fake version we have in the US) so often fails to achieve its intended results when it gets control of a government. He’ll be providing posts from time to time on Latin America, which is too often covered in a cursory and propagandized manner in the mainstream English language press.
Read more...Normally I try not to pay much attention to Davos because it is meant to reinforce the idea that plutocracy is simply a manifestation of natural aristocracy.
Read more...Gar Alperovitz, professor of economics at the University of Maryland, speaks on Real News Network about the potential and limits of worker cooperatives like Mondragon.
Read more...So many of the assertions made about “maximizing shareholder value” are false that they should be assumed to be a lie until proven otherwise.
Read more...Why behavioural economics is nothing but Victorian morality passed down to the modern age.
Read more...Minimum-wage increases are associated with a lower probability that a job will end, and with a lower probability that an unemployed person will find work.
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