Category Archives: The destruction of the middle class

Paul Ryan Sorry for Calling Americans “Takers.” Let’s Talk About the Real Takers.

Rana Foroohar’s new book, Makers and Takers: The Rise of Finance and the Fall of American Business, addresses what Paul Ryan conveniently left out.

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Marshall Auerback: Donald Trump Understands the Nexus Between Trade and Immigration

By linking immigration and trade, however crudely, Trump has exposed the broader paradox and inherent contradictions which lurk between the two.

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Bill Black: Democrats Need to Give Up Being Deficit Hawks Even When it Feels Good Politically

Why do Democrats act like Republican wannabes with deficit scaremongering? Let us count the reasons: Wall Street, Pete Peterson, hatred of the poor…

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Michael Hudson and Chris Hedges: The Real World Cost of Turning Classical Economics Upside Down

Classical economics recognized the costs of rent extraction, excessive borrowing, and encouraging speculation over commerce. Ideologues have turned those lessons on their head.

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Assuming Away Unemployment and Trade Deficits from the TPP

It should come as no surprise that the Peterson Institute has managed to model the impact of the TPP so that it does not increase unemployment.

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Michael Hudson on Debt Deflation, the Rentier Economy, and the Coming Financial Cold War

Michael Hudson speaks with Justin Ritchie on his favorite topics, such as debt deflation, austerity, classical economists on rentiers, and the coming financial cold war.

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