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October 26, 2016
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Tag: Economics

The Nobel Prize in Economics Is a Force for Market Fundamentalism

The honor dignifies those who advocate surrendering the public’s power to ensure the common welfare and legitimizes the destruction such policies create, writes Avner Offer, economic historian at Oxford and co-author of a new book on the award.

Posted on Oct 10, 2016 READ MORE


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What Will Donald Trump Do if Elected President?

Armed with the finding that U.S. presidents fulfill more than 70 percent of their campaign promises, New Yorker contributor Evan Osnos spoke with a wide range of experts to try to determine what Trump will do if he wins.

Posted on Oct 3, 2016 READ MORE

Celebrating the 1 Percent: Is Inequality Really Good for the Economy?

In his new book, “The Great Escape: Health, Wealth, and the Origins of Inequality,” Scottish economist Angus Deaton practices public relations for the rich.

Posted on Sep 30, 2016 READ MORE

Dire Effects and Warnings of Climate Change Are Going Unheeded

New scientific studies address lack of awareness of the adverse economic, social and biodiversity effects that climate change is already having.

Posted on Sep 23, 2016 READ MORE

The Euro

The timing couldn’t be better for this new book, which recounts the tragic irony of how the euro, which was supposed to bring Europe together, is in fact driving it apart.

Posted on Aug 27, 2016 READ MORE

Why a Tax on Wall Street Trades Is a Great Idea (Video)

By Robert Reich /

One of Bernie Sanders’ most important proposals didn’t receive enough attention and should become law.

Posted on Aug 14, 2016 WATCH & LISTEN

The Shell Game of the Economic Elite’s Hamilton Project

The think tank created 10 years ago by ruling-class maestro Robert Rubin (pictured above) at the Brookings Institution has helped define the fake-progressive, neoliberal essence of the Barack Obama presidency.

Posted on Aug 9, 2016 READ MORE

The Costs and Dangers of Climate Change Are Escalating

Scientific reports released for a conference on disaster risk reduction warn that people are already dying and economies being hit by climate change—and that the dangers are growing.

Posted on Jul 21, 2016 READ MORE

Queerness and the Next System: Opening Up the Discussion

For centuries, the erasure of LGBTQ people from public policy has been the norm, but discussions about the economic future cannot sideline conversations around gender, sex and sexuality.

Posted on Jun 20, 2016 READ MORE

Global Warming Threatens the Material Basis of the Global Economy

Research shows that the effects of extreme heat and weather events on production of raw materials has far-reaching and costly financial implications.

Posted on Jun 17, 2016 READ MORE

State Lawmakers Attack Efforts to Make Local Economies More Inclusive

Across the country, state legislatures are working to make municipal attempts to leverage public spending for local job creation illegal.

Posted on May 19, 2016 READ MORE

What’s Yours Is Mine

The Sharing Economy, epitomized by companies such as Uber and Airbnb, “is a movement for deregulation,” Tom Slee writes. “It’s not about building an alternative to a corporate-driven market economy; it’s about extending the deregulated free market into new areas of our lives.”

Posted on May 2, 2016 READ MORE

An Alternative After a Likely Bern-Out: The Green Party’s Jill Stein

Jill Stein’s platform is all about job creation through a green infrastructure plan, resuscitating trade unions, fostering worker cooperatives and slashing defense spending. Is it a pipe dream or simply the future?

Posted on Apr 28, 2016 READ MORE

Survey: A Majority of American Millennials Now Reject Capitalism

Just 42 percent of Americans between ages 18 and 29 support the economic system with which the United States itself is often equated, Harvard researchers found.

Posted on Apr 27, 2016 READ MORE

The Panama Papers: Laundering Havens for War Budgets (Video)

In mid-April, economist Michael Hudson told The Real News Network that global oil and mining industries and the U.S. State Department created Panama and Liberia for the express purpose of tax evasion.

Posted on Apr 25, 2016 WATCH & LISTEN

‘Days of Revolt’: Wall Street Criminals and the Future of Our Economy (Video)

In the second part of an interview from teleSUR’s “Days of Revolt,” Truthdig contributor Chris Hedges continues his discussion of “junk economics” with professor Michael Hudson.

Posted on Apr 1, 2016 WATCH & LISTEN

‘Days of Revolt’: Chris Hedges, Michael Hudson Discuss How We Got to Junk Economics (Video)

The federal debt has exceeded $19 trillion. One reason for the record-high figure is a gigantic Ponzi scheme that defines the U.S. and global economies.

Posted on Mar 24, 2016 WATCH & LISTEN

Donald Trump: Jobs Will Solve the Problems Black Americans Face

Asked by Washington Post staff whether he saw disparities in the way U.S. law enforcement treats blacks and whites, the Republican presidential candidate avoided answering directly and proposed that inner-city blacks need employment.

Posted on Mar 24, 2016 READ MORE

Paychecks Shrink Even as U.S. Economy Adds Jobs

U.S. industry added 242,000 jobs in February—but the major gains were in low-wage industries, and average hourly earnings dropped 3 cents. And unemployment rates remained far higher for minorities than for whites.

Posted on Mar 7, 2016 READ MORE

A Warming World Would Rob From the Poor and Give to the Rich

As temperatures rise with climate change, the earth’s natural capital will change too—but there may be few winners, even among the wealthy.

Posted on Mar 7, 2016 READ MORE

The Most Important Issues for Activists in 2016: An Interview With Kevin Zeese

The longtime political activist pinpoints what activists should be paying attention to in the new year, including the killing of people of color by the government through police violence, the climate crisis and the duopoly scam of American politics.

Posted on Jan 7, 2016 READ MORE

The Economy in 2016: Buying Time Before All the Old Problems Resurface

What’s in store for the world economically in the new year? While he cautions against predictions, Guardian economics editor Larry Elliott projects that “there will be no explosion in 2016, but a fuse will be lit.”

Posted on Dec 28, 2015 READ MORE

The Hidden and Deadly Bias of Class

White working-class voters have been a key building block of the Republican coalition since the rise of the Reagan Democrats 35 years ago. You would think that the party’s presidential candidates would want to respond to the heartbreaking crisis these Americans are facing.

Posted on Nov 11, 2015 READ MORE

An Open Letter to Fed Chairwoman Yellen From America’s Beleaguered Savers

“Start imagining what we, the savers, have to endure because of plutocratic, crony capitalism for which the Federal Reserve has long been a leading Tribune.”

Posted on Oct 31, 2015 READ MORE

VIDEO: Chris Hedges and John Ralston Saul Discuss Neoliberalism, False Populism and Donald Trump

“I think that the word ‘ideology’ has to be used very carefully. But when people come forward with rather simplistic truths—you already know you’re in trouble when they say they’ve got the truth—and they say: ‘This is what must happen. This is how things work. This is what dominates society.’ That’s an ideology.”

Posted on Oct 27, 2015 WATCH & LISTEN

Wages Set to Fall Unless Temperature Rise Is Tackled

Researchers say the economic costs of failing to take action on climate change will be much greater than previously thought—with average global incomes cut by almost a quarter.

Posted on Oct 23, 2015 READ MORE

Hurricanes Wreak Economic Havoc as World Warms

Analysis of insurance data convinces environmental economists that climate change is pushing up the cost of dealing with the disastrous effects of extreme weather events.

Posted on Oct 22, 2015 READ MORE

New 2015 Wealth Data Reveal U.S. Inequality at Its Ugliest

According to new data, nearly 50 million of America’s 243 million adults are part of the world’s poorest 10 percent.

Posted on Oct 19, 2015 READ MORE

Global Warming Will Impoverish Oceans

Rising temperatures and acidification threaten to create a hostile ocean environment that will cause a serious collapse in the food chain.

Posted on Oct 14, 2015 READ MORE

Risk of Global Financial Crash Has Increased, IMF Warns

The International Monetary Fund says a slowdown of the Chinese economy and a decline in world trade are undermining the stability of highly indebted emerging economies.

Posted on Oct 8, 2015 READ MORE

Bubbles Always Burst: The Education of an Economist

To learn about the topics that interested me most as a young economist, I had to leave university and go to work for banks.

Posted on Sep 30, 2015 READ MORE

Investors Opt Out of Fossil Fuels as Climate Summit Nears

As momentum builds for a new deal on climate change, investors are becoming increasingly nervous about having their cash in fossil fuels.

Posted on Sep 24, 2015 READ MORE

Arctic Thaw Would Cost Half the World’s Annual Earnings

If Arctic soils melt and release frozen carbon, the impact would cost almost half the world’s annual gross domestic product, researchers say.

Posted on Sep 23, 2015 READ MORE

How the Federal Reserve’s Economic Recovery Plan Fueled the Tech Bubble

The $3.6 trillion the federal government has pumped into the U.S. economy since 2008 fueled a tech bubble that led to startup valuations that far exceed those of successful established companies in traditional industries.

Posted on Sep 3, 2015 READ MORE

Financial Support for the People: The U.K. Labour Front-Runner’s Controversial Proposal

British MP Jeremy Corbyn has proposed a “quantitative easing for people” that has critics crying hyperinflation and supporters saying, “It’s about time.”

Posted on Sep 3, 2015 READ MORE

The Case for Universal Basic Income

Support for a universal basic income is growing. In Europe, for example, the Dutch city of Utrecht is about to introduce an experiment that aims “to challenge the notion that people who receive public money need to be patrolled and punished.” Here, the political, philosophical and economic arguments are made clear.

Posted on Aug 26, 2015 READ MORE

VIDEO: Noam Chomsky: Capitalism in Most Forms Is Inconsistent With Democracy

The renowned linguist and activist explains the only way that capitalism could be compatible with democracy.

Posted on Aug 11, 2015 WATCH & LISTEN

LISTEN: ‘Left, Right & Center’: Presidential Candidates on the Economy, Race and Immigration

Truthdig Editor-in-Chief Robert Scheer and the other “Left, Right & Center” panelists discuss the various presidential candidates and their positions on the economy and racial issues. Would Hillary Clinton make any real break from Wall Street? Why is Donald Trump leading in the polls? And is a vote for Bernie Sanders tantamount to support for a Republican victory?

Posted on Jul 25, 2015 WATCH & LISTEN

Greek Reforms ‘Will Fail,’ Former Finance Minister Varoufakis Says

Yanis Varoufakis, who resigned recently, predicted that the measures will “go down in history as the greatest disaster of macroeconomic management ever.”

Posted on Jul 18, 2015 READ MORE

Climate Change May Knock Seafood Off the Menu

Researchers warn of a serious threat to fish, mussels and other marine species as carbon dioxide acidifies the world’s waters and increases temperatures.

Posted on Jul 8, 2015 READ MORE

Piketty on Germany’s Hypocrisy: It ‘Has No Standing to Lecture Other Nations’

“Those who want to chase Greece out of the eurozone today,” the French economist says, “will end up on the trash heap of history.”

Posted on Jul 6, 2015 READ MORE

Deaths Mount in Pakistan as Heatwave Is Linked to Climate Change

More than 1,200 people have died as a result of an intense heatwave in southern Pakistan, and experts are warning of more hot weather to come.

Posted on Jul 6, 2015 READ MORE

Coal Investment Is the Most Urgent Climate Threat

The head of the global Organisation for Economic Co-operation and Development says wealthy countries should help poorer nations that cannot afford to replace coal with low-carbon alternatives.

Posted on Jul 5, 2015 READ MORE

Transport-Sharing Boosts Health, Wealth and Climate

Growing public involvement in programs to share cars and bicycles is clearly good for the environment, and it also saves money and improves people’s health.

Posted on Jul 4, 2015 READ MORE

Economists Krugman and Stiglitz on Why Greeks Should Vote ‘No’ on the Referendum

Nobel Prize-winning economists Joseph Stiglitz and Paul Krugman maintain that Greece must keep going it alone and vote “no” on the upcoming referendum on the bailout.

Posted on Jun 30, 2015 READ MORE

Stress on Water Resources Threatens Lives and Livelihoods

Satellite data raise red flags about the draining of underground aquifers in California and elsewhere to meet the demands of expanding populations.

Posted on Jun 29, 2015 READ MORE

Adolfo Lujan (CC BY-NC-ND 2.0)

Naomi Klein Accepts Pope Francis’ Invitation to Debate Climate Change Action at the Vatican

The activist and “This Changes Everything” author said she was “surprised but delighted” to receive an invitation from the head of the Catholic Church to lead a conference this week, adding that while others may think his ideas on economics are wrong, she’s on his side.

Posted on Jun 29, 2015 READ MORE

Renewable Energy Redoubles Its Global Reach

As the world economy and energy use both grew in 2014, renewables continued their rapid rise—but carbon emissions did not.

Posted on Jun 27, 2015 READ MORE

Dutch City to Experiment With Universal Basic Income

The city of Utrecht in the Netherlands is considering introducing a universal basic income—an income unconditionally granted to all its residents on an individual basis, without a means test or work requirement.

Posted on Jun 25, 2015 READ MORE

Combating Climate Dangers Is Seen as Medical Emergency

International experts say the last 50 years of health advances worldwide will be jeopardized unless urgent steps are taken to confront climate change.

Posted on Jun 24, 2015 READ MORE

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