Why Trump’s Promise to Save Manufacturing Was One He Never Intended to Keep
Trump’s promise to save manufacturing jobs and rebuild infrastructure was all bluster, no surprise from the man known for stiffing workers.
Read more...Category Archives: The destruction of the middle class
How Hypocrites in High Places Have Contributed to the Riots in the Streets
Why the riots of this summer resulted from the ever-increasing exploitation of low-income Americans, and how a Job Guarantee would reverse this power imbalance.
Read more...Coronavirus Economic Distress Hitting Indebted Professionals
Coronavirus damage is working its way up the economic food chain and is now hitting professionals in a meaninful way.
Read more...It’s Time for a Debt “Jubilee”
Households and businesses are overloaded with debt. Richard Vague offers a set of proposals for how to restructure it.
Read more...How NAFTA Lost Democrats the South
How the New Democrats’ trade deals fractured the multi-racial coalition that Martin Luther King had helped forge in the South.
Read more...Wolf Richter: Unemployment Crisis Going in Wrong Direction: Week 25 of U.S. Labor Market Collapse
Unemployment claims continue to increase, with nearly 20% collecting unemployment insurance. even according to the stringent claims criteria.
Read more...America’s Dire Inequality Demands a New Conceptual Framework. This Economist Has One.
Lance Taylor explains that wage repression — far more than monopoly power, offshoring or technological change — is driving rising inequality.
Read more...Regressive Taxation Must Be Reversed
Discussing taxation proposals by inequality mavens Emanuel Saez and Gabriel Zucman.
Read more...Democracy Scares, from the Destruction of Bryan to the Abdication of Bernie: Why America Desperately Needs a Second Populist Movement but Ain’t Gonna Get One an interview + Review of The People, No! A Brief History of Anti-Populism by Thomas Frank
Thomas Frank explains why populist campaigners face such a hostile environment now.
Read more...How Warming Will Widen the Italy North-South Economic Gap
In Italy and elsewhere around the globe, climate change will worsen existing inequalities, researchers say.
Read more...History Gives Reason to Hope That We Can Beat Inequality
Not surprisingly, fighting inequality has always been an uphill battle, but history gives some insight on tactics.
Read more...‘The Situation Is Dire’: As Trump Takes Victory Lap, New Jobs Report Reveals Alarming Surge in Permanent Unemployment
As we cruise into Labor Day, the state of permanent U.S. unemployment is dire; and with no end in sight to the pandemic, will only worsen.
Read more...Are Riots Counterproductive, and Who Decides?
Riots and street violence are often blamed for producing a political backlash, but the real picture is more complex.
Read more...Michael Hudson: How an “Act of God” Pandemic Is Destroying the West: The U.S. Is Saving the Financial Sector, Not the Economy
The coronavirus’ effect has been to help defeat the financial sector’s enemy, governments strong enough to regulate it.
Read more...More Giveaways to Capitalist Finance? It’s High Time To Change the Objective
Jan Kregel explains the fundamental problem with the economic system is its focus on providing finance to investors.
Read more...