Category Archives: The destruction of the middle class

Rethinking Unemployment: From Adam Smith to Marx “Reserve Army of the Unemployed” to the Neoliberal War on Full Employment

Unemployment as a balancing act between workers ‘fearing the sack’ and employers ‘fearing the quit,” with employers usually winning out.

Bob Pollin: Modest Inflation Is Good for Workers

If inflation is linked to higher wages, that’s not bad for workers, says Bob Pollin of the Political Economy Research Institute in Amherst.

When Is a Co-Op Not a Co-Op? When Vested Interests in California Want to Keep Platform Workers From Having Power

California Assembly Bill 1319 is a convoluted scheme to create so-called co-ops designed to keep gig workers disempowered.

What if Large Businesses Are Really Macroeconomic Entities?

Mega businesses are a huuge problem. But what to do?

Larry Summers Doubles Down On His Inflation Prediction

Unfortunately, Larry Summers still gets attention, most recently for inflation hawkery. Fortunately, it’s not hard to see through him.

How Enforcement of the USMCA Will End a Corporate Race to the Bottom

USMCA, which promised to help American workers by improving labor bargaining rights, is being put to its first road test. Will it perform?

Slack in the Economy, Not Inflation, Should Be Bigger Worry

Despite fear-mongering about inflation, unemployment remains elevated and stimulus is needed to prevent a collapse in demand.

War as the Enemy of Reform: Biden’s Dilemma or His Excuse?

How much is keeping the US on a war footing really constraining Biden on the domestic front?

Michael Hudson on American as Absentee Landlord on The Greyzone: Biden Administration, New Cold War, Super Imperialism, Dollar Weaponization

Michael Hudson discusses geopolitics including currency power plays, global institutions like the IMF, the new Cold War, and Bill Gates

How Upskilling America Will Rebuild the Middle Class

A sanity check on how far “let them eat training” will go in restoring the fallen American middle class.