Why haven’t any big bankers been prosecuted for their role in the housing crisis that led to the Great Recession? These finance executives took part in “scandals that violate the most basic ethical norms,” as the head of the IMF Christine Lagarde…
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Plutocracy
After Piketty, is the Study of Economics the Study of Rising Inequality?
By Chris Edwards, University of East Anglia The economic and political focus is increasingly on the inequality of income and wealth as they both rise in Europe and the US. At a conference on Inclusive Capitalism held near the end of May at London’s Guildhall, Christine Lagarde, the head of the International Monetary Fund (IMF), […]
Top 3 White Terrorist Attacks in America this Week
By Juan Cole Our capitalist class may be becoming an absolute danger to ordinary Americans. By promoting a doctrine of absolute right to gun ownership (which rather helps gun manufacturers) and at the same time encouraging people to hate the Federal government and resent paying taxes, they are creating a whole class of alienated far […]
Student Debt: Blame Law-Makers, Tax-Shirking Rich, War on Drugs, not Universities
By Juan Cole In honor of President Obama’s support for Senator Elizabeth Warren’s bill to address the student debt crisis by offering students with older debt loads lower interest rates [see video below], I’m reprinting this golden oldie. The statistics in it have only gotten worse from a social point of view in the past […]
How Reagan subverted the meaning of D-Day & the New Deal of the Greatest Generation
The following is an excerpt from Harvey J. Kaye’s The Fight for the Four Freedoms: What Made FDR and the Greatest Generation Truly Great (Simon & Schuster, 2014). On June 6, 1984, President Ronald Reagan went to Normandy, France, to speak at events…
Can Obama Make good on his Pledge to overturn Citizens United with a Constitutional Amendment?
In his new book, Ken Vogel claims that President Barack Obama told Democratic donors he believes he is in a good position to pass a constitutional amendment to repeal Citizens United. The book, entitled “Big Money: 2.5 Billion Dollars, One Suspicious…
Climate Change, Economic Inequality Are One Debate, says Sen. Warren
By Jon Queally Both issues show clearly that ‘we have a rigged system, where a handful are able to reap benefits at the cost of everyone else.’ Sharing a stage with French economist Thomas Piketty on Monday night in Boston, Sen. Elizabeth Warren discussed a range issues related to economic inequality during a joint interview […]
9 Questions about the 1%, the Unemployed and why the one produces the Other
By Peter van Buren via Tomdispatch Last year eight Americans — the four Waltons of Walmart fame, the two Koch brothers, Bill Gates, and Warren Buffett — made more money than 3.6 million American minimum-wage workers combined. The median pay for CEOs at America’s large corporations rose to $10 million per year, while a typical chief executive now makes […]
Big Media is Boring us into accepting End of Net Neutrality: John Oliver
John Oliver: “Cable companies are trying to create an unequal playing field for internet speeds, but they’re doing it so boringly that most news outlets aren’t covering it. John Oliver explains the controversy and lets viewers know how they can voice their displeasure to the FCC. (www.fcc.gov/comments, for any interested parties)” Last Week Tonight with […]
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