Browsing articles tagged with " inequality"
Nov 2, 2012
boyce
Comments Off on Economics denial

Economics denial

The New York Times reports today on attempts to suppress a Congressional Research Service report showing that tax cuts for the rich don’t create jobs:

“The reduction in the top tax rates appears to be uncorrelated with saving, investment and productivity growth. The top tax rates appear to have little or no relation to the size of the economic pie,” the report said. “However, the top tax rate reductions appear to be associated with the increasing concentration of income at the top of the income distribution.”

Read the Times piece here.

Read the suppressed report here.

Nov 1, 2012
boyce
Comments Off on How not to create jobs

How not to create jobs

Lessons from Recent History 101: the Bush tax cuts.

It is Orwellian that after a decade of trillion dollar tax cuts and bailouts of the rich, and a steadily worsening jobs and employment picture for American workers, we are told to be kind to the rich and give them even more money because they are the “jobs creators”.

Read more here.

Oct 23, 2012
boyce
Comments Off on Waste

Waste

The food thrown away in Europe and North America would be enough to feed all the hungry people in the world three times over.

 

Source: http://whypoverty.net/en_GB/video/128.

Oct 12, 2012
boyce
Comments Off on How the rich can create jobs: pay taxes!

How the rich can create jobs: pay taxes!

Nick Hanauer, a successful capitalist, on why inequality is bad and taxes on the rich are good for job creation:

Source: http://www.youtube.com/watch?v=bBx2Y5HhplI

 

Oct 11, 2012
boyce

New Economy Working Group

Advancing democratic alternatives to oligarchy:

Extreme inequality undermines democracy, the economy, public health and culture. Concentrated wealth translates into political power to further shape elections, legislative priorities and rules in favor of global corporations and the already wealthy. This in turn leads to the kind of economic distortions that caused the 2008 financial collapse. In the lead up to the collapse, the bottom 70 percent of the U.S. population responded to stagnant wages by borrowing beyond their means, while the top 1 percent engaged in reckless speculation on highly rated but essentially worthless securities in financial markets freed from essential regulation and public oversight.

More here.

Oct 7, 2012
boyce
Comments Off on “One dollar, one vote”

“One dollar, one vote”

Nobel laureate Joe Stiglitz writes on revealed preference in our political system:

President George W. Bush claimed that we did not have enough money for health insurance for poor American children, costing a few billion dollars a year. But all of a sudden we had $150 billion to bail out AIG, the insurance company. That shows that something is wrong with our political system. It is more akin to “one dollar, one vote” than to “one person, one vote.”

Read the whole interview here.

Aug 21, 2012
boyce
Comments Off on Justice for all who can pay for it

Justice for all who can pay for it

Reviewing Joe Stiglitz’s new book, The Price of Inequality, Thomas Edsall pulls this quote:

America has become a country not ‘with justice for all,’ but rather with favoritism for the rich and justice for those who can afford it — so evident in the foreclosure crisis.

 

Read his review here.

Aug 2, 2012
boyce
Comments Off on Pirate banking

Pirate banking

James Henry, author of “The Price of Offshore,” interviewed by Democracy Now’s Amy Goodman:


Source: http://vod.io/5xkGX/

Jul 22, 2012
boyce
Comments Off on Offshore Loot: The (Really) Big Picture

Offshore Loot: The (Really) Big Picture

A trillion here, a trillion there… pretty soon you’re talking real money. The London Observer reports new estimates of the world’s offshore wealth:

A global super-rich elite has exploited gaps in cross-border tax rules to hide an extraordinary £13 trillion ($21tn) of wealth offshore – as much as the American and Japanese GDPs put together – according to research commissioned by the campaign group Tax Justice Network.

Read more here.

Jul 18, 2012
boyce
Comments Off on Command and Control Meets the Market

Command and Control Meets the Market

In an essay for “Capitalism Unmasked,” Econ4′s joint project with AlterNet, Lynn Parramore writes on the new economic bondage:

This has been coming for some time. Ever since the Reagan era, from the factory to the office tower, the American workplace has been morphing for many into a tightly-managed torture chamber of exploitation and domination. Bosses strut about making stupid commands. Employees trapped by ridiculous bureaucratic procedures censor themselves for fear of getting a pink slip. Inefficiencies are everywhere. Bad management and draconian policies prop up the system of command and control where the boss is God and the workers are so many expendable units in the great capitalist machine. The iron handmaidens of high unemployment and economic inequality keep the show going.

Read her piece here.