Category Archives: The destruction of the middle class

How Dodgy Government Accounting Fueled Rapid Rise of Federal Student Loans

Why the student loan mess is even worse than you thought.

Why Workers Memorial Day Is a National Call to Action

On the odd decision by American labor unions to have their own solidarity day, the Workers Memorial Day, rather than participate in May Day.

Even Credentialed Young People Pessimistic About Their Futures

The fact that even well-placed young people are insecure and pessimistic is further proof of the impact of inequality and rentierism.

We Really Do Need to Rethink the Economics of Saving, Most of Which Is Nonsense

Savings plays an important role in household management (or does when the household isn’t desperate), yet economists don’t get it.

The Corporate Food Takeover

Corporate ownership in many sectors of food production has risen and is set to increase further. Another rentier program well underway.

Covid Is Hitting Workers Differently Than the Financial Crisis

Unlike the Great Recession, the pandemic has hit women workers harder than men, as well as the job prospects of lower education workers.

Opioids Crisis: Trial of Four Drugmakers Begins in California

Tennessee judge enters default judgment against opioids manufacturer Endo Pharmaceuticals for discovery misconduct.

Michael Hudson: America’s Neoliberal Financialization Policy vs. China’s Industrial Socialism

Further discussion of the American and Chinese economic models, focusing on financialization as a central distinction.

Pricey Learning Pods Are Now Helping Vulnerable Students. Will the Trend Survive the Pandemic?

A case study of the “innovation” of learning pods, and why they are being promoted as an alternative to remote instruction.

Why Work at Home Is Not Likely to Thrive After the Covid Era

Despite its popularity, expect work at home to be reined in when we reach life after Covid.

Lessons from the First New Deal for the Next One

Whether it is called “Build Back Better” or a Green New Deal, it is imperative to reject the false dichotomy of “jobs against climate.”

UNCTAD’s Richard Kozul-Wright on the Post-COVID World Economy: Out of the Frying Pan… Into the Fire?

Kozul-Wright warns that for a sustainable Covid-19 recovery, it is key to abandon policies that concentrate economic power and wealth

What is the Bullshit Economy?

Establishing some first principles of the bullshit economy.

Mitch McConnell to U.S. Business: Stay Out of Politics – But Keep Those Contributions Coming

Senate Minority Leader Mitch McConnell tells U.S. business: stay out of politics, but keep those campaign contributions coming.

Need Amid Plenty: Richest US Counties Are Overwhelmed by Surge in Child Hunger

While every U.S. county has seen hunger rates rise, the steepest jumps have been in some of the wealthiest counties, where overall affluence obscures the tenuous finances of low-wage workers.