Ironically, the very New Deal legacy that austerians work to euthanize in the U.S. is the chief thing that has prevented the country's economy from completely crashing.
Investment in what experts call "real inputs" -- structures and machines that enable and boost future output and productivity -- is one way an economy grows over time. No wonder, then, that an economic crisis occurred just decades after the share of national income going to investment began declining during the start of the neoliberal era, around 1980, UMass-Amherst professor Gerald Friedman writes in Dollars & Sense.
A gloomy forecast for the sales of a German automaker portends the possible spread of Southern Europe's economic crisis to other parts of the continent -- and the world.
Money today is simply a legal agreement between parties. Nothing backs it but “the full faith and credit of the United States.” The United States could issue its credit directly to fund its own budget, just as our forebears did in the American colonies and as Abraham Lincoln did in the Civil War.
The Nobel Prize-winning economist and public advocate is at the top of every liberal’s wish list for President Obama’s second-term Cabinet appointments.
The marginally growing U.S. economy reduced speed in the second quarter of the year after months of lackluster job creation, threatening the financial well-being of ordinary Americans and deepening the challenge for President Obama’s re-election campaign.