
Wednesday, April 30, 2014
Monday, April 28, 2014
Choosing To Have A Middle Class - Thom Hartmann
Despite what you might read in the Wall Street Journal or see on Fox News (both owned by Rupert Murdoch), capitalism is not an economic system that produces a middle class.
In fact, if left to its own devices, capitalism tends towards vast levels of inequality and monopoly. Wealth accumulates at the very top among the elites, not among everyday working people. Inequality is the default option.
By embracing Reaganomics and cutting taxes on the rich, we decided back in 1980 not to have a middle class within a generation or two. George H.W. Bush saw this, and correctly called it "Voodoo Economics."
When we had heavily regulated and taxed capitalism in the post-war era, the largest employer in America was General Motors, and they paid working people what would be, in today's dollars, about $50 an hour with benefits. Reagan began deregulating and cutting taxes on capitalism in 1981, and today, with more classical "raw capitalism," what we call "Reaganomics," or "supply side economics," our nation's largest employer is WalMart and they pay around $10 an hour.
This is how quickly capitalism reorients itself when the brakes of regulation and taxes are removed - this huge change was done in less than 35 years.
The full article is available here
Saturday, April 26, 2014
Middle Class Broke Because Of Government Policy Dictated By Plutocracy - Egberto Willies
As productivity increased in this country, and employees provided more value, only those at the top that got the spoils.
If one watches corporate media, the impression is given that the free market as the best allocator of resources if left unfettered is the solution to all that ails the country’s economy. This god, the free market, will ensure that productivity and efficiency are rewarded.
Additionally one's wage is somehow proportional to their worth within the economy.
The wealth of most Americans has been in a state of stagnation since the institution of Ronald Reagan’s supply side economics (termed "voodoo economics" by George HW Bush) that America is still living under. Until this form of economics is disbanded and corrective action taken via the tax system, the middle class will continue to falter and the Plutocracy will continue its unfettered reign.
As productivity increased in this country, and employees provided more value, only those at the top that got the spoils. These are theories intent to keep a class system in which a very select few control most of the capital and the government.
Firstly, there is no free market. Corporations are grabbing patents or acquiring patents left and right however dubious the claims. Farmers are losing their ability to grow their crops free with their own seeds, because of cross pollination with genetically modified seeds of major corporations who own the patent on those seeds.
Secondly, while politicians are elected democratically, they are generally elected on false premises. The fact the mainstream news media is controlled by a few companies, means that the messaging heard by Americans are corporate-centric. As such, only politicians that toe the line tend to get the ability to get a message out that can get them elected.
Thirdly, the current tax structure mathematically ensures the demise of the middle class. This is a mathematical fact. The working person’s income comes mostly from wages. The wealthy person’s income comes mostly from municipal bonds and capital gains. Wages are taxed at up to 39% and municipal bonds interest is not taxed at all while capital gains are taxed at 15%. It is a mathematical impossibility that the wealthy will not continue to get a very disproportionate take of the pie.
The full article is available here
If one watches corporate media, the impression is given that the free market as the best allocator of resources if left unfettered is the solution to all that ails the country’s economy. This god, the free market, will ensure that productivity and efficiency are rewarded.
Additionally one's wage is somehow proportional to their worth within the economy.
The wealth of most Americans has been in a state of stagnation since the institution of Ronald Reagan’s supply side economics (termed "voodoo economics" by George HW Bush) that America is still living under. Until this form of economics is disbanded and corrective action taken via the tax system, the middle class will continue to falter and the Plutocracy will continue its unfettered reign.
As productivity increased in this country, and employees provided more value, only those at the top that got the spoils. These are theories intent to keep a class system in which a very select few control most of the capital and the government.
Firstly, there is no free market. Corporations are grabbing patents or acquiring patents left and right however dubious the claims. Farmers are losing their ability to grow their crops free with their own seeds, because of cross pollination with genetically modified seeds of major corporations who own the patent on those seeds.
Secondly, while politicians are elected democratically, they are generally elected on false premises. The fact the mainstream news media is controlled by a few companies, means that the messaging heard by Americans are corporate-centric. As such, only politicians that toe the line tend to get the ability to get a message out that can get them elected.
Thirdly, the current tax structure mathematically ensures the demise of the middle class. This is a mathematical fact. The working person’s income comes mostly from wages. The wealthy person’s income comes mostly from municipal bonds and capital gains. Wages are taxed at up to 39% and municipal bonds interest is not taxed at all while capital gains are taxed at 15%. It is a mathematical impossibility that the wealthy will not continue to get a very disproportionate take of the pie.
The full article is available here
Tuesday, April 15, 2014
7 Facts About Our Broken Tax System - George Zornick in The Nation
Here are some actual facts about our tax system.
Conservative politicians and corporate lobbyists (coincidence, right?) have constructed a highly effective narrative about taxes. It is a governmentaphobia that enlists the very people hurt by its advancement. In many ways it has come to be taken for granted as common knowledge.
However, this does not mean that it is any way accurate, factual or backed by data, events or statistics. Here are some actual facts about our tax system to burst that fictitious balloon.
1. We don’t have a progressive tax system. A truly progressive tax system would ask those who are the most well-off in America to contribute the largest share of their income in taxes. Our federal taxes are progressive, but when you account for state, local and sales taxes, top-line taxation rate isn’t really progressive at all.
2. We’re one of the least-taxed countries in the world. Though the animating impulse of much of conservative politics is that we’re over-taxed, total government receipts are less in the United States than they are in any other member of the Organization for Economic Co-operation and Development, as a percent of GDP.
3. Not many companies pay the corporate tax rate—and some don’t pay any corporate taxes at all. Politicians and corporate lobbyists are fond of saying the US corporate tax rate of 35 percent is the highest in the world, which is technically true—but thanks to expansive tax loopholes, many corporations don’t pay nearly that much.
4. Some of your tax dollars are given to hugely profitable companies. Many companies have a negative tax rate—meaning they actually get money from the government. This can come in the form of federal tax breaks and other preferential treatment of certain financial instruments. Then consider the subsidies given directly to industry, along with the safety net programs some of these companies force employees to rely on, and the number gets quite big.
5. Meanwhile, some people are actually taxed into poverty. Many high-profile conservatives like to complain about their supposedly oppressive tax rates. But there’s one group—low-wage childless adults—who can literally be taxed into poverty.
6. Washington doesn’t like to address the deficit by raising taxes. There has been quite a bit of deficit reduction talk—and action—since 2008. Despite the fact that, as noted, government receipts in the United States are extremely low, a vast majority of the savings that DC has found has come from cutting things, not raising more revenue.
7. Much More Revenue Is Out There. In order to raise more tax revenue, corporations paying negative tax rates are a logical place to start, as are the very wealthy. They are the only ones seeing their income increase, rather than decrease.
The full article is available here
Conservative politicians and corporate lobbyists (coincidence, right?) have constructed a highly effective narrative about taxes. It is a governmentaphobia that enlists the very people hurt by its advancement. In many ways it has come to be taken for granted as common knowledge.
However, this does not mean that it is any way accurate, factual or backed by data, events or statistics. Here are some actual facts about our tax system to burst that fictitious balloon.
1. We don’t have a progressive tax system. A truly progressive tax system would ask those who are the most well-off in America to contribute the largest share of their income in taxes. Our federal taxes are progressive, but when you account for state, local and sales taxes, top-line taxation rate isn’t really progressive at all.
2. We’re one of the least-taxed countries in the world. Though the animating impulse of much of conservative politics is that we’re over-taxed, total government receipts are less in the United States than they are in any other member of the Organization for Economic Co-operation and Development, as a percent of GDP.
3. Not many companies pay the corporate tax rate—and some don’t pay any corporate taxes at all. Politicians and corporate lobbyists are fond of saying the US corporate tax rate of 35 percent is the highest in the world, which is technically true—but thanks to expansive tax loopholes, many corporations don’t pay nearly that much.
4. Some of your tax dollars are given to hugely profitable companies. Many companies have a negative tax rate—meaning they actually get money from the government. This can come in the form of federal tax breaks and other preferential treatment of certain financial instruments. Then consider the subsidies given directly to industry, along with the safety net programs some of these companies force employees to rely on, and the number gets quite big.
5. Meanwhile, some people are actually taxed into poverty. Many high-profile conservatives like to complain about their supposedly oppressive tax rates. But there’s one group—low-wage childless adults—who can literally be taxed into poverty.
6. Washington doesn’t like to address the deficit by raising taxes. There has been quite a bit of deficit reduction talk—and action—since 2008. Despite the fact that, as noted, government receipts in the United States are extremely low, a vast majority of the savings that DC has found has come from cutting things, not raising more revenue.
7. Much More Revenue Is Out There. In order to raise more tax revenue, corporations paying negative tax rates are a logical place to start, as are the very wealthy. They are the only ones seeing their income increase, rather than decrease.
The full article is available here
Wednesday, April 2, 2014
The Supreme Court’s Ideology: More Money, Less Voting - Ari Bermanon
In the past four years, under the leadership of conservative Chief Justice John Roberts, the Supreme Court has made it far easier to buy an election and far harder to vote in one.
The Court’s conservative majority believes that the First Amendment gives wealthy donors and powerful corporations the carte blanche right to buy an election but that the Fifteenth Amendment does not give Americans the right to vote free of racial discrimination.
These are not unrelated issues—the same people, like the Koch brothers, who favor unlimited secret money in US elections are the ones funding the effort to make it harder for people to vote. The net effect is an attempt to concentrate the power of the top 1 percent in the political process and to drown out the voices and votes of everyone else.
A country that expands the rights of the powerful to dominate the political process but does not protect fundamental rights for all citizens doesn’t sound much like a functioning democracy to me.
The full article is available here
Saturday, February 22, 2014
US Drone Turns Yemeni Wedding Into Funeral - Juan Gonzalez
The strike not only may have violated international law, but also flies in the face of President Obama’s policies on targeted killings.
A new report has revealed that a U.S. drone strike that killed at least a dozen people in Yemen in December failed to comply with rules imposed by President Obama last year to protect civilians.
The strike was carried out by the U.S. military’s Joint Special Operations Command and targeted vehicles that were part of a wedding procession going towards the groom’s village outside the central Yemeni city of Rad’a. According to the Human Rights Watch investigation, quote, "some, if not all those killed and wounded were civilians" and not members of the armed group al-Qaeda in the Arabian Peninsula as U.S. and Yemeni government officials initially claimed.
The report concluded that the attack killed 12 men between the ages of 20 and 65 and wounded 15 others. It cites accounts from survivors, relatives of the dead, local officials and news media reports.
There are serious concerns that the strike not only may have violated international law, but also flies in the face of President Obama’s policies on targeted killings. The president has said the U.S. does not strike unless it has near certainty that no civilians were killed, yet the evidence strongly suggests that at least some of those killed in this strike, and possibly all of them, were civilians.
The full article is available here
A new report has revealed that a U.S. drone strike that killed at least a dozen people in Yemen in December failed to comply with rules imposed by President Obama last year to protect civilians.
The strike was carried out by the U.S. military’s Joint Special Operations Command and targeted vehicles that were part of a wedding procession going towards the groom’s village outside the central Yemeni city of Rad’a. According to the Human Rights Watch investigation, quote, "some, if not all those killed and wounded were civilians" and not members of the armed group al-Qaeda in the Arabian Peninsula as U.S. and Yemeni government officials initially claimed.
The report concluded that the attack killed 12 men between the ages of 20 and 65 and wounded 15 others. It cites accounts from survivors, relatives of the dead, local officials and news media reports.
There are serious concerns that the strike not only may have violated international law, but also flies in the face of President Obama’s policies on targeted killings. The president has said the U.S. does not strike unless it has near certainty that no civilians were killed, yet the evidence strongly suggests that at least some of those killed in this strike, and possibly all of them, were civilians.
The full article is available here
Sunday, February 16, 2014
Flaws With the State Dept.’s Keystone Pipeline Study - Ben Adler
When the State Department issued its environmental impact statement on the proposed Keystone XL pipeline two weeks ago, the media’s main takeaway was that State had found the project would not significantly increase greenhouse gas emissions.
But as environmental advocates have dug deeper into the report in the days since, they have concluded that State made several flawed assumptions and decisions. Moreover, even its own findings show potential contributions to global warming if the pipeline moves forward.
Here are environmentalists’ three major complaints:
1. The questionable assumption that tar-sands development is inevitable. Tar-sands oil is more expensive to extract than conventional oil. The State Department anticipates that high oil prices will make it economically viable to drill in the Canadian tar sands whether or not Keystone XL is built, and therefore concludes that the pipeline won’t lead to more tar-sands oil extraction or CO2 emissions.
2. Lack of context. State’s report did not consider Keystone in relation to other proposed pipeline projects — like an expansion of Enbridge’s Alberta Clipper Pipeline, which runs from the Alberta tar sands to Superior, Wis. Sixteen environmental organizations sent a letter to State saying it should have considered this larger context. The letter observed, “The Supreme Court has recognized that ‘when several proposals … that will have cumulative or synergistic environmental impact upon a region are pending concurrently before an agency, their environmental consequences must be considered together.’”
3. Conflict of interest. Environmental Resources Management (ERM), the consulting firm contracted to do the environmental impact study, was recommended to State by TransCanada, the company that wants to build the pipeline. In response to a query from State, ERM said it had not worked with TransCanada in the previous three years. But after it won the contract, ERM admitted that it had worked on a TransCanada project.
The full article is available here
Wednesday, January 29, 2014
Obama's Underwhelming Plan to Tackle Inequality - Lynn Stuart Paramore
If you were wanting something that takes on inequality in America the way Lyndon B. Johnson took on poverty in his 1964 State of the Union address, you did not find it tonight.
Obama's plans include include raising wages to $10.10 for people making a miserly $7.25, the current Dickensian minimum. Oh, wait, he's only talking about federal contract wages. OK, really only some of them. And only the new ones.
Obama's plans include include raising wages to $10.10 for people making a miserly $7.25, the current Dickensian minimum. Oh, wait, he's only talking about federal contract wages. OK, really only some of them. And only the new ones.
An income of $10.10 per hour falls short of a living wage. The plan does not even match the boldness of conservative California businessman Ron Unz, who wants to raise the minimum to $12 because he doesn’t like having to pay for all the social welfare programs people have to rely on when they get paid squat.
If you were wanting something bold and butt-kicking, something that takes on inequality in America the way Lyndon B. Johnson took on poverty in his 1964 State of the Union address, you did not find it tonight.
You didn't hear about expanding Social Security, a sensible plan supported by Sen. Elizabeth Warren and others. You didn't hear about getting to full employment (but you did hear some conservative rhetoric about how unemployment is really about workers not having the right skills, which has been repeatedly debunked).
You didn't hear about bringing justice to criminal bankers who prey on hard-working Americas. You didn't hear about asking the rich to pay their fair share in taxes, or putting a financial transaction tax on Wall Street, or backing off the grotesque Trans-Pacific Partnership, or ending too-big-to-fail, or taking real action to get the money out of politics.
The full article is available here
Saturday, January 25, 2014
How To Talk To A Climate Change Skeptic - Coby Beck
“How to Talk to a Climate Skeptic” is a series from Grist Magazine written by Coby Beck. It contains responses to the most common skeptical arguments on global warming. There are four separate taxonomies; arguments are divided by:
In the unpleasant event that you’re faced with someone who’s all “lol how can there be global warming it’s cold,” you could follow Grist's four-point plan for wasting your breath and not managing to change their minds. Or you could just send them this XKCD comic and let Randall Munroe do the work.
Thursday, January 23, 2014
Pennsylvania Ruling Shows Problem With Voter ID Laws - Ari Berman
Pennsylvania became a case study for the problems with voter ID laws.
Judge Bernard McGinley found that the law violated the state constitution because hundreds of thousands of registered voters lacked the restrictive forms of ID required by the state, few had obtained the requisite ID since the law’s passage in March 2012, the state had not made it easy to get an ID and there was no evidence of in-person voter fraud to justify the burdens of the law.
Pennsylvania became a case study for the problems with voter ID laws. “The Voter ID Law as written suggests a legislative disconnect from reality,” McGinley wrote.
The state present failed evidence to justify the new voter ID law. The state “wholly failed to show any evidence of in-person voter fraud,” McGinley wrote. “Certainly a vague concern about voter fraud does not rise to a level that justifies the burdens construction here. Therefore, this Court does not find in-person voter fraud a compelling interest the Voter ID Law was designed to serve.”
The full article is available here
Judge Bernard McGinley found that the law violated the state constitution because hundreds of thousands of registered voters lacked the restrictive forms of ID required by the state, few had obtained the requisite ID since the law’s passage in March 2012, the state had not made it easy to get an ID and there was no evidence of in-person voter fraud to justify the burdens of the law.
Pennsylvania became a case study for the problems with voter ID laws. “The Voter ID Law as written suggests a legislative disconnect from reality,” McGinley wrote.
The lead plaintiff in the case, Viviette Applewhite, was a 93-year-old great-great grandmother who marched with Martin Luther King Jr. and had voted in every election for the past fifty years but did not have a driver’s license and was at risk of being disenfranchised by the new law.
The state present failed evidence to justify the new voter ID law. The state “wholly failed to show any evidence of in-person voter fraud,” McGinley wrote. “Certainly a vague concern about voter fraud does not rise to a level that justifies the burdens construction here. Therefore, this Court does not find in-person voter fraud a compelling interest the Voter ID Law was designed to serve.”
The full article is available here
Monday, January 20, 2014
What Obama Didn’t Say NSA Spying Speech - Zoe Carpenter
The really significant parts of Obama’s speech were the things he did not mention. He did not call for a full stop to the bulk collection of communication records, only a transfer of ownership.
The president did not articulate a specific reason why this information needs to be collected and stored. His own intelligence review panel found that it serves no essential counter-terrorism purpose. On the other hand, the same panel (among others) emphasized the intrusiveness of bulk data collection.
Obama made a few important acknowledgements of the potential for abuse inherent in surveillance programs, but he painted a seriously misleading picture of the NSA’s recent history when he said that he’s learned nothing that “indicated that our intelligence community has sought to violate the law or is cavalier about the civil liberties of their fellow citizens.”
The full article is available here
The president did not articulate a specific reason why this information needs to be collected and stored. His own intelligence review panel found that it serves no essential counter-terrorism purpose. On the other hand, the same panel (among others) emphasized the intrusiveness of bulk data collection.
Obama made a few important acknowledgements of the potential for abuse inherent in surveillance programs, but he painted a seriously misleading picture of the NSA’s recent history when he said that he’s learned nothing that “indicated that our intelligence community has sought to violate the law or is cavalier about the civil liberties of their fellow citizens.”
The full article is available here
Saturday, January 18, 2014
Groups to Obama: Your Fossil Fuel-Driven Policies = Catastrophic Climate Future
18 environmental, environmental justice, and public health advocacy organizations have written a pointed letter to President Obama.
Citing the glaring gaps between his sometimes encouraging rhetoric and the realities of his fossil fuel-laden policies, eighteen environmental, environmental justice, and public health advocacy organizations have written a pointed letter to President Obama slamming his "all of the above" energy strategy as a "compromised" approach that "future generations can't afford."
Citing the glaring gaps between his sometimes encouraging rhetoric and the realities of his fossil fuel-laden policies, eighteen environmental, environmental justice, and public health advocacy organizations have written a pointed letter to President Obama slamming his "all of the above" energy strategy as a "compromised" approach that "future generations can't afford."
“You can’t have it both ways,” said Sierra Club's executive director Michael Brune in an interview with the Washington Post, which received advanced notice of the letter that was sent to the White House on Thursday.
"In the coming months your administration will be making key decisions regarding fossil fuel development -- including the Keystone XL pipeline, fracking on public lands, and drilling in the Arctic ocean -- that will either set us on a path to achieve the clean energy future we all envision or will significantly exacerbate the problem of carbon pollution."
The full article is available here
The full article is available here
Friday, January 10, 2014
Advocacy For A Lifetime - Shirley Mullen
Sustained faithfulness in advocacy must be grounded in a larger life of discipline, humility, and hope if it is to endure for the long haul.
For some of us, advocacy is like a onetime cross-cultural experience. For some of us, advocacy is another way of "coming of age." It is a way of demarcating themselves from their own history. For some of us, advocacy is a way of exerting their gifts of persuasion and organization to come out on top.
Describing these forms of advocacy in no way discounts their potential for good. We've probably all found ourselves in one or more of those forms at one time or another. Sometimes things turn out much better than we planned for or expected. Imperfect people can be agents in accomplishing very good things in the world.
More often than not, however, our efforts do not yield what we had hoped, at least not in the short run. Far too often, well-intentioned and hardworking people do not see the results commensurate with their efforts.
The challenge for each of us is to allow advocacy to become a way of life and not a one-time experience that inoculates us against a lifetime of truly seeing the needs speaking faithfully for those who cannot speak for themselves.
Advocacy is tiring work. Results are not immediate. The work is never done. Even with occasional dramatic victories, changing the law is a long way from changing culture or changing hearts.
Sustained faithfulness in advocacy must be grounded in a larger life of discipline, humility, and hope if it is to endure for the long haul. We are sometimes called to invest our lives in causes that seem to go nowhere, because it is the right thing to do, because the tapestry of history is longer in the making than our lifetime.
The full article is available here
For some of us, advocacy is like a onetime cross-cultural experience. For some of us, advocacy is another way of "coming of age." It is a way of demarcating themselves from their own history. For some of us, advocacy is a way of exerting their gifts of persuasion and organization to come out on top.
Describing these forms of advocacy in no way discounts their potential for good. We've probably all found ourselves in one or more of those forms at one time or another. Sometimes things turn out much better than we planned for or expected. Imperfect people can be agents in accomplishing very good things in the world.
More often than not, however, our efforts do not yield what we had hoped, at least not in the short run. Far too often, well-intentioned and hardworking people do not see the results commensurate with their efforts.
The challenge for each of us is to allow advocacy to become a way of life and not a one-time experience that inoculates us against a lifetime of truly seeing the needs speaking faithfully for those who cannot speak for themselves.
Advocacy is tiring work. Results are not immediate. The work is never done. Even with occasional dramatic victories, changing the law is a long way from changing culture or changing hearts.
Sustained faithfulness in advocacy must be grounded in a larger life of discipline, humility, and hope if it is to endure for the long haul. We are sometimes called to invest our lives in causes that seem to go nowhere, because it is the right thing to do, because the tapestry of history is longer in the making than our lifetime.
The full article is available here
Monday, January 6, 2014
Everyday Life Has Been Financialized & It's Destructive - Costas Lapavitsas
Financialized capitalism is, thus, a deeply unequal system, prone to bubbles and crises — none greater than that of 2007-'09.
Evidence that financialization has come to dominate economies is offered by the global crisis of 2007-09. The crisis originated in the elephantine U.S. financial system, and was associated with speculation in housing.
For a brief period it led to serious questioning of mainstream economic theory and policy: how to confront the turmoil, and what to do about the diseased financial system; are new economic theories needed? However, after six years it is clear that very little has changed. Financialization is here to stay.
Consider, for instance, the policies to confront the crisis. First, public funds were injected into banks to boost capital. Second, public liquidity was made available to banks to sustain their operations. Third, public interest rates were driven to zero to enable banks to make secure profits by lending to their own customers at higher rates.
This extraordinary public largesse towards private banks was matched by austerity and wage reductions for workers and households. As for restructuring finance, nothing fundamental has taken place. The behemoths that continue to dominate the global financial system operate in the knowledge that they enjoy an unspoken public guarantee. The unpalatable reality is that financialization will persist, despite its costs for society.
The penetration of finance into the everyday life of households has not only created a range of dependencies on financial services, but also changed the outlook, mentality and even morality of daily life. Financial calculation evaluates everything in pennies and pounds, transforming the most basic goods — above all, housing — into "investments."
Financialized capitalism is, thus, a deeply unequal system, prone to bubbles and crises — none greater than that of 2007-'09. What can be done about it? The most important point in this respect is that financialization does not represent an advance for humanity, and very little of it ought to be preserved.
The full article is available here
Evidence that financialization has come to dominate economies is offered by the global crisis of 2007-09. The crisis originated in the elephantine U.S. financial system, and was associated with speculation in housing.
For a brief period it led to serious questioning of mainstream economic theory and policy: how to confront the turmoil, and what to do about the diseased financial system; are new economic theories needed? However, after six years it is clear that very little has changed. Financialization is here to stay.
Consider, for instance, the policies to confront the crisis. First, public funds were injected into banks to boost capital. Second, public liquidity was made available to banks to sustain their operations. Third, public interest rates were driven to zero to enable banks to make secure profits by lending to their own customers at higher rates.
This extraordinary public largesse towards private banks was matched by austerity and wage reductions for workers and households. As for restructuring finance, nothing fundamental has taken place. The behemoths that continue to dominate the global financial system operate in the knowledge that they enjoy an unspoken public guarantee. The unpalatable reality is that financialization will persist, despite its costs for society.
The penetration of finance into the everyday life of households has not only created a range of dependencies on financial services, but also changed the outlook, mentality and even morality of daily life. Financial calculation evaluates everything in pennies and pounds, transforming the most basic goods — above all, housing — into "investments."
Financialized capitalism is, thus, a deeply unequal system, prone to bubbles and crises — none greater than that of 2007-'09. What can be done about it? The most important point in this respect is that financialization does not represent an advance for humanity, and very little of it ought to be preserved.
The full article is available here
Wednesday, January 1, 2014
P.U. litizer Prizes for 2013 - Fairness & Accuracy In Reporting
-The Sponsors Speak Award: PBS -- The January 23 episode of PBS series Nova was a mostly upbeat report on drones and surveillance. What viewers may not have known about "Rise of the Drones" was that it was funded in part by Lockheed Martin--the giant aerospace corporation that just happens to be a major drone manufacturer.
- Everyone (I Know) Is Rich: David Gregory -- During a discussion of the Affordable Care Act (aka "Obamacare"), NBC's Meet the Press host David Gregory (7/7/13) said that while he wasn't sure how the law would work out, he did know one thing: "Anybody who gets a paycheck in this country understands one thing, that there's a new line item. And it says Medicare surtax."
Actually, that additional Medicare tax doesn't apply to "anybody who gets a paycheck"—it applies to people making over $200,000, who are in the top 2 percent of household income.
- Deadly Website Award: Michael Shear -- The botched roll-out of the Healthcare.gov website was certainly widely covered, but it was New York Times reporter Michael Shear who thought it could be compared to a deadly hurricane that killed nearly 2,000 people (11/15/13). Who exactly was raising this question? Shear attributes it to...a former adviser to George W. Bush. But the website = Katrina line was soon everywhere--which seemed absurd, until NBC's David Gregory explained that the more apt comparison would be the Iraq War
- Send a Union-Busting Message Award: Chris Matthews -- During a discussion about how the Obama administration should control the scandals swirling around the White House, MSNBC's Chris Matthews (Hardball, 5/14/13) brought up one president who did it right: Ronald Reagan, when he broke the PATCO air traffic controllers union in 1981.
The full article is available here
- Everyone (I Know) Is Rich: David Gregory -- During a discussion of the Affordable Care Act (aka "Obamacare"), NBC's Meet the Press host David Gregory (7/7/13) said that while he wasn't sure how the law would work out, he did know one thing: "Anybody who gets a paycheck in this country understands one thing, that there's a new line item. And it says Medicare surtax."
Actually, that additional Medicare tax doesn't apply to "anybody who gets a paycheck"—it applies to people making over $200,000, who are in the top 2 percent of household income.
- Deadly Website Award: Michael Shear -- The botched roll-out of the Healthcare.gov website was certainly widely covered, but it was New York Times reporter Michael Shear who thought it could be compared to a deadly hurricane that killed nearly 2,000 people (11/15/13). Who exactly was raising this question? Shear attributes it to...a former adviser to George W. Bush. But the website = Katrina line was soon everywhere--which seemed absurd, until NBC's David Gregory explained that the more apt comparison would be the Iraq War
- Send a Union-Busting Message Award: Chris Matthews -- During a discussion about how the Obama administration should control the scandals swirling around the White House, MSNBC's Chris Matthews (Hardball, 5/14/13) brought up one president who did it right: Ronald Reagan, when he broke the PATCO air traffic controllers union in 1981.
The full article is available here
Monday, December 9, 2013
Thinking Like a Conservative: ‘Government Dependency’ - Rick Perlstein
Never mind that the size of government is not “ever-increasing” (see here). Empirical debunking cannot reach the deepest fear of the reactionary mind, which is that the devouring leviathan, the state, will soon swallow up all traces of human volition and dignity. The conclusion is based on convictions that reason can’t shake.
"Relying on government is slavery ..." This a consistent trope within modern conservatism.
Then there’s the old saw that the deal the Democrats supposedly offer African-Americans—you vote for us; we give you free stuff.
And yet, despite rank anti-empirical irrationality that under-girds such convictions, conservatives believe they are immune to charges of “immorality” when it comes to denying citizens government services, because they believe “hooking” people on government services is profoundly immoral.
Conservatives’ deepest convictions (however ill-founded and fundamentally flawed) determined their reaction in advance. Society using government to help people will be judged as an abomination.
But since genuine conservatives are in the American minority, as I wrote last month, isn’t it better to simply sin boldly, and let our conservatives devils have the hindmost? Use the state, use it well, to make people’s lives better. Do it without apology. That’s our moral imperative that should be beyond compromise.
The full article is available here
Monday, November 25, 2013
Elites Waging Brutal Class War in America - Noam Chomsky
The United States, to an unusual extent, is a business-run society, more so than others. The business classes are very class-conscious—they’re fighting a bitter class war to improve their power and diminish opposition.
That’s why we have a sequester over the deficit and not over jobs, which is what really matters to the population. But it doesn’t matter to the banks, so the heck with it. It also illustrates the consider- able shredding of the whole system of democracy.
If you care about other people, that’s now a very dangerous idea. The mantra is that you should become rich, but you shouldn’t care whether other people’s kids can go to school, or can afford food to eat, or things like that. In the United States, that’s called “libertarian” for some wild reason. I mean, it’s actually highly authoritarian.
The bottom 70% or so are virtually disenfranchised; they have almost no influence on policy, and as you move up the scale you get more influence. At the very top, you basically run the show. It’s not a big secret. Republicans try really hard to prevent people from voting, because the more people that vote, the more trouble they are in.
Private-sector unionization is very low, partly because, since Reagan, government has pretty much told employers, “You know you can violate the laws, and we’re not going to do anything about it.” Under Clinton, NAFTA offered a method for employers to illegally undermine labor organizing by threatening to move enterprises to Mexico.
When Obama declares a pay freeze for federal workers, that’s actually a tax on federal workers. It comes to the same thing, and, of course, this is right at the time we say that we can’t raise taxes on the very rich.
Take the last tax agreement where the Republicans claimed, “We already gave up tax increases.” Take a look at what happened. Raising the payroll tax, which is a tax on working people, is much more of a tax increase than raising taxes on the super-rich.
The full article is available here
Saturday, November 9, 2013
Money, Needs and Resources - Miki Kashtan
Privilege works in part by masking the needs of others and habituating some segment of the population to having some of their needs met at the expense of others without even knowing this is so.
Every form of social organization includes in it implicit (or explicit) decisions about whose needs are prioritized, which needs are recognized and valued, and how resources are allocated towards meeting such needs.
Western economic theories resolve the question by not addressing it, or by assuming, implicitly, that the function of the system is to use the mechanisms of the market to meet pre-existing needs. We regularly reduce the question of whether or not human needs can be met to an empirical matter of market supply and demand.
Allocating resources on the basis of output equity is the method least tied to empathy. It’s a way of obscuring from view the fact that having fewer resources means we are less likely to be able to contribute, which means we receive less and continue to have our needs unmet. We have created a cycle which reinforces patterns of economic inequality while making them appear to be based on a just distribution. One result of such a system is insensitivity to others’ needs, and an overall decrease in empathy.
Privilege works in part by masking the needs of others and habituating some segment of the population to having some of their needs met at the expense of others without even knowing this is so. In particular, many people with privilege protect themselves from recognizing the effects of their privilege on others by attributing others’ suffering to their own actions. Thus the often-repeated talking point that people are poor because of not working hard enough.
Indeed, research indicates that people with lower income score better on measures of empathy than people of higher means. It is one thing to cultivate an abstract recognition that others have needs. It is a whole other matter for all of us who have access to privilege to give attention and consideration to how we might change our daily actions in order to be more responsive to others’ needs.
The full article is available here
Every form of social organization includes in it implicit (or explicit) decisions about whose needs are prioritized, which needs are recognized and valued, and how resources are allocated towards meeting such needs.
Western economic theories resolve the question by not addressing it, or by assuming, implicitly, that the function of the system is to use the mechanisms of the market to meet pre-existing needs. We regularly reduce the question of whether or not human needs can be met to an empirical matter of market supply and demand.
Allocating resources on the basis of output equity is the method least tied to empathy. It’s a way of obscuring from view the fact that having fewer resources means we are less likely to be able to contribute, which means we receive less and continue to have our needs unmet. We have created a cycle which reinforces patterns of economic inequality while making them appear to be based on a just distribution. One result of such a system is insensitivity to others’ needs, and an overall decrease in empathy.
Privilege works in part by masking the needs of others and habituating some segment of the population to having some of their needs met at the expense of others without even knowing this is so. In particular, many people with privilege protect themselves from recognizing the effects of their privilege on others by attributing others’ suffering to their own actions. Thus the often-repeated talking point that people are poor because of not working hard enough.
Indeed, research indicates that people with lower income score better on measures of empathy than people of higher means. It is one thing to cultivate an abstract recognition that others have needs. It is a whole other matter for all of us who have access to privilege to give attention and consideration to how we might change our daily actions in order to be more responsive to others’ needs.
The full article is available here
Thursday, November 7, 2013
ACA Hysteria: Don't Believe Canceled Insurance Hype - Michael Hiltzijk
It's time to tamp down the breathless indignation about these health plan cancellations.
Affordable Care Act critics (as well as governmentphobic corporate propagandists) are crying wolf, using the cancellation letters millions of Americans are receiving from their health insurers, informing them that their health plans won't conform to the new federal standards for health coverage as of Jan. 1.
Back in March, Consumer Reports published a study of many of these plans and placed them in a special category: "junk health insurance." Some plans, the magazine declared, may be worse than none at all.
It's time to tamp down the breathless indignation about these health plan cancellations. Many of the departing plans are being outlawed for good reason, and many of the customers losing them have no idea how much financial exposure they were saddled with in the old days. That's the real scandal in American health insurance, and the Affordable Care Act is designed, rightly, to fix it.
The full article is available here
Affordable Care Act critics (as well as governmentphobic corporate propagandists) are crying wolf, using the cancellation letters millions of Americans are receiving from their health insurers, informing them that their health plans won't conform to the new federal standards for health coverage as of Jan. 1.
Back in March, Consumer Reports published a study of many of these plans and placed them in a special category: "junk health insurance." Some plans, the magazine declared, may be worse than none at all.
It's time to tamp down the breathless indignation about these health plan cancellations. Many of the departing plans are being outlawed for good reason, and many of the customers losing them have no idea how much financial exposure they were saddled with in the old days. That's the real scandal in American health insurance, and the Affordable Care Act is designed, rightly, to fix it.
The full article is available here
Saturday, October 12, 2013
Why Right Wing U.S. Evangelicals Salivate For "End Times" - Amanda Marcotte
While most of us would be alarmed if we thought we were facing down the apocalypse and a worldwide war that will kill millions, they can't wait.
There is a unique, strange tendency of American right wing, fundamentalist Christians to cast around looking for evidence that they will be witness to the apocalypse. The popular hymn may state that “they will know we are Christians by our love,” but when it comes to right-wing fundamentalists, a better bet to know them is by their apocalyptic revenge fantasies.
While most of us would be alarmed if we thought we were facing down the apocalypse and a worldwide war that will kill millions, people like Michelle Bachmann can't wait: “Rather than seeing this as a negative, we need to rejoice, Maranatha Come Lord Jesus, His day is at hand.”
3 out of 4 evangelicals believe Christ will return soon. This is, of course, mostly wishful thinking—they believe they’re seeing the end of the world because they want to see the end of the world. Why would anyone want that, when the Bible they believe in predicts it will be mass murder, hellfire, and every grotesque thing imaginable?
(The fact that none of these beliefs are based on an accurate interpretation of the Bible they so readily thump seems to escape them).
1.They don’t think they’ll be around for the worst of it. Modern American fundamentalist Christians believe in something that has never before been part of Christian tradition: the Rapture. The idea is that the true believers will be whisked away into heaven before the ugly parts of the end times begin. The idea was invented in the 19th century but has caught like wildfire in 20th Century fundamentalism and amped up in the 21st Century through fantasy films like Left Behind.
2.The end of the world would mean they get to have the last word. History will tell us that end time predictions increase when people are being persecuted or feel persecuted. While conservative Christians are most definitely not being persecuted, watching their privileged position in society justifiably decline as the equality and liberty promised in the Constitution is more fully enfranchised often makes them feel persecuted (and they whine about it to no end).
3.It provides a distraction from and an excuse to avoid the real problems in the world. The appeal of apocalypse fantasies as a genre is mainly that they help believers avoid the fear of death. However, belief that the end times are near is used by conservatives all the time to direct their followers politically. The prediction that the apocalypse is near has been used to defend all manner of terrible policies; everything from indifference to environmental concerns to opposition to health insurance to preferred right-wing policies in the Middle East.
4.They want to see the non-believers punished and themselves instated as the rightful rulers of all mankind. The real message for those they regard as unsaved is to thumb their nose and do a little victory dance. That’s why, after any great tragedy, there is a rush of eager-beaver charlatans willing to say this is what people have coming for being sinners (as though we all aren't sinners?!?!?)
The full article is available here
There is a unique, strange tendency of American right wing, fundamentalist Christians to cast around looking for evidence that they will be witness to the apocalypse. The popular hymn may state that “they will know we are Christians by our love,” but when it comes to right-wing fundamentalists, a better bet to know them is by their apocalyptic revenge fantasies.
While most of us would be alarmed if we thought we were facing down the apocalypse and a worldwide war that will kill millions, people like Michelle Bachmann can't wait: “Rather than seeing this as a negative, we need to rejoice, Maranatha Come Lord Jesus, His day is at hand.”
3 out of 4 evangelicals believe Christ will return soon. This is, of course, mostly wishful thinking—they believe they’re seeing the end of the world because they want to see the end of the world. Why would anyone want that, when the Bible they believe in predicts it will be mass murder, hellfire, and every grotesque thing imaginable?
(The fact that none of these beliefs are based on an accurate interpretation of the Bible they so readily thump seems to escape them).
1.They don’t think they’ll be around for the worst of it. Modern American fundamentalist Christians believe in something that has never before been part of Christian tradition: the Rapture. The idea is that the true believers will be whisked away into heaven before the ugly parts of the end times begin. The idea was invented in the 19th century but has caught like wildfire in 20th Century fundamentalism and amped up in the 21st Century through fantasy films like Left Behind.
2.The end of the world would mean they get to have the last word. History will tell us that end time predictions increase when people are being persecuted or feel persecuted. While conservative Christians are most definitely not being persecuted, watching their privileged position in society justifiably decline as the equality and liberty promised in the Constitution is more fully enfranchised often makes them feel persecuted (and they whine about it to no end).
3.It provides a distraction from and an excuse to avoid the real problems in the world. The appeal of apocalypse fantasies as a genre is mainly that they help believers avoid the fear of death. However, belief that the end times are near is used by conservatives all the time to direct their followers politically. The prediction that the apocalypse is near has been used to defend all manner of terrible policies; everything from indifference to environmental concerns to opposition to health insurance to preferred right-wing policies in the Middle East.
4.They want to see the non-believers punished and themselves instated as the rightful rulers of all mankind. The real message for those they regard as unsaved is to thumb their nose and do a little victory dance. That’s why, after any great tragedy, there is a rush of eager-beaver charlatans willing to say this is what people have coming for being sinners (as though we all aren't sinners?!?!?)
The full article is available here
Thursday, October 10, 2013
The Psychodynamics of Tea Party Success - Rabbi Michael Lerner
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After many years as a psychotherapist studying the psycho-dynamics leading Americans to move to the Right, (before I became a rabbi and editor of Tikkun), I began to understand why a fringe and extremist group could be so successful in gathering support that would eventually lead to its ability to shut down the functioning of the government.
Here’s what I learned about why right-wing extremists are on the ascendency:
1. The Right has a coherent worldview, deeply mistaken, but nevertheless held firmly and taught widely through the media it controls and the many institutions it funds. They know what they want—the elimination of government except for its policing, fire-fighting, immigrant fighting, and military services.
2. The Democrats are perceived as wimps, because they don’t fight for what they say they believe in. So even though temporarily they are slightly winning the battle about who is to blame for the government shut down, they keep missing opportunities to challenge the Tea Party and their supporters.
3. With the decline of American political power and economic power globally, coupled with the intense assault by the 1% on the incomes and economic security of the rest of the population and growing awareness and despair about the way climate change might be real and might lead to environmental disaster, and you get a huge amount of insecurity about the future, and a willingness to grab on to a variety of pseudo-solutions.
4. The takeover of the culture by the ethos of materialism and selfishness (which go hand-in-hand with the Social Darwinism that is Libertarianism). Rarely in history have we seen such a huge buy-in to that ideology and to the common-sense notion that people are basically ego-driven and selfish and that “what they really want is more and more things,” as we see in the media-driven culture of the 21st century.
The full article is available here
Thursday, October 3, 2013
Tea Party Created Existential Threat to US, Not Affordable Care Act - Republican Justin Holbrook
Common-sense Republicans like myself understand that the Affordable Care Act is not an existential threat and doesn't deserves an existential response.
By pretending that the Affordable Care Act poses such an existential risk to the republic that it merits dragging our national character through the mud of a government shutdown, tea party Republicans are belittling the very real crises America faces.
Common-sense Republicans like myself understand that it’s not an existential threat and doesn't deserves an existential response. Freedom of religion, speech, the press; if these freedoms are taken away – not simply re-scoped or modified by representatives who, by the way, are popularly elected – we would have an existential crisis.
We live in a democratic republic. The people elect legislators who pass legislation and a president who signs it into law. By its very nature, there are winners and losers.
Sometimes one party wins and gets the legislation it wants. Sometimes not. But most of the time we compromise. We get a little here and give a little there. We work together. Unfortunately, it’s a lesson that tea party Republicans – caught in the fog of war and self-appointed last stands – seem to have forgotten.
The existential crisis is the one that tea party Republicans are creating. This crisis is abusing the give-and-take of the political process to such a degree that both our national pride and credit are at risk in the world. It is creating a rift in the Republican Party.
If tea party Republicans want to avoid an existential threat to the republic, they should remember that their first loyalty is not to defeating the Affordable Care Act or winning the next election. Their first loyalty is to the republic.
The full article is available here
By pretending that the Affordable Care Act poses such an existential risk to the republic that it merits dragging our national character through the mud of a government shutdown, tea party Republicans are belittling the very real crises America faces.
Common-sense Republicans like myself understand that it’s not an existential threat and doesn't deserves an existential response. Freedom of religion, speech, the press; if these freedoms are taken away – not simply re-scoped or modified by representatives who, by the way, are popularly elected – we would have an existential crisis.
We live in a democratic republic. The people elect legislators who pass legislation and a president who signs it into law. By its very nature, there are winners and losers.
Sometimes one party wins and gets the legislation it wants. Sometimes not. But most of the time we compromise. We get a little here and give a little there. We work together. Unfortunately, it’s a lesson that tea party Republicans – caught in the fog of war and self-appointed last stands – seem to have forgotten.
The existential crisis is the one that tea party Republicans are creating. This crisis is abusing the give-and-take of the political process to such a degree that both our national pride and credit are at risk in the world. It is creating a rift in the Republican Party.
If tea party Republicans want to avoid an existential threat to the republic, they should remember that their first loyalty is not to defeating the Affordable Care Act or winning the next election. Their first loyalty is to the republic.
The full article is available here
Sunday, August 25, 2013
Private Gain For The Few Trumps Public Good For The Many - Robert Reich
"Privatize" means "Pay for it yourself."
We’re losing public goods available to all, supported by the tax payments of all and especially the better-off. In its place we have private goods available to the very rich, supported by the rest of us.
A society is defined as a set of mutual benefits and duties embodied most visibly in public institutions: public schools, public libraries, public transportation, public hospitals, public parks, public museums, public recreation, public universities, and so on.
"Privatize" means "Pay for it yourself." The practical consequence of this in an economy whose wealth and income are now more concentrated than at any time in the past 90 years is to make high-quality public goods available to fewer and fewer.
Since the late 1970s, almost all the gains from growth have gone to the top. But as the upper-middle class and the rich began shifting to private institutions, they withdrew political support for public ones. In consequence, their marginal tax rates dropped — setting off a vicious cycle of diminishing revenues and deteriorating quality, spurring more flight from public institutions
Outside of defense, domestic discretionary spending is down sharply as a percent of the economy. Add in declines in state and local spending, and total public spending on education, infrastructure and basic research has dropped dramatically over the past five years as a portion of GDP.
The full article is available here
We’re losing public goods available to all, supported by the tax payments of all and especially the better-off. In its place we have private goods available to the very rich, supported by the rest of us.
A society is defined as a set of mutual benefits and duties embodied most visibly in public institutions: public schools, public libraries, public transportation, public hospitals, public parks, public museums, public recreation, public universities, and so on.
"Privatize" means "Pay for it yourself." The practical consequence of this in an economy whose wealth and income are now more concentrated than at any time in the past 90 years is to make high-quality public goods available to fewer and fewer.
Since the late 1970s, almost all the gains from growth have gone to the top. But as the upper-middle class and the rich began shifting to private institutions, they withdrew political support for public ones. In consequence, their marginal tax rates dropped — setting off a vicious cycle of diminishing revenues and deteriorating quality, spurring more flight from public institutions
Outside of defense, domestic discretionary spending is down sharply as a percent of the economy. Add in declines in state and local spending, and total public spending on education, infrastructure and basic research has dropped dramatically over the past five years as a portion of GDP.
The full article is available here
The Moneyed Elite and The Crisis of Labor: Wall Street 2012-13 - James Petras
The financial crash of 2008-09 and the bailouts that followed reinforced the dominance of Wall Street over the US economy.
On July 16, 2013, Goldman Sachs, the fifth largest US bank by assets announced its second quarter profits doubled the previous year to $1.93 billion. J. P. Morgan, the largest bank made $6.1 billion in the second quarter up 32% over the year before and expects to make $25 billion in profits in 2013. Wells Fargo, the fourth largest bank, reaped $5.27 billion, up 20%. Citigroup’s profits topped $4.18 billion, up 42% over the previous year.
The financial crash of 2008-2009 and the bailouts that followed reinforced the dominance of Wall Street over the US economy. The result is that the parasitic financial sector is extracting enormous rents and profits from the economy and depriving the productive industries of capital and earnings. The recovery and boom of corporate profits since the crisis turns out to be concentrated in the same financial sector which provoked the crash a few years back.
The ascendancy of the plutocracy has been accompanied by cuts in public spending on health, education and social services. (Though painful, these cuts would be much larger and catastrophic had the regressive GOP House, steered off of the rails by the Tea Party, not been reigned in some. You may think it is coincidental that the very same plutocrats who benefit from the ascendancy of the financial sector at the expense of the common good are among those responsible for starting and funding the Astro Turf, manufactured, ill-informed rage-fest that is the Tea Party. You would be wrong).
The bi-polar world of rich bankers in the North racking up record profits and workers everywhere receiving a shrinking share of national income spells out the class basis of “recovery” and “depression,” prosperity for the few and immiseration for the many. This is typified by Detroit, once the cradle of both the auto industry and the organized industrial workers’ leap into the middle-class. The big three auto companies have relocated overseas and to non-union states while the billionaire bankers “restructure” the economy, break unions, lower wages, renege on pensions and rule by administrative decree.
The full article is available here
On July 16, 2013, Goldman Sachs, the fifth largest US bank by assets announced its second quarter profits doubled the previous year to $1.93 billion. J. P. Morgan, the largest bank made $6.1 billion in the second quarter up 32% over the year before and expects to make $25 billion in profits in 2013. Wells Fargo, the fourth largest bank, reaped $5.27 billion, up 20%. Citigroup’s profits topped $4.18 billion, up 42% over the previous year.
The financial crash of 2008-2009 and the bailouts that followed reinforced the dominance of Wall Street over the US economy. The result is that the parasitic financial sector is extracting enormous rents and profits from the economy and depriving the productive industries of capital and earnings. The recovery and boom of corporate profits since the crisis turns out to be concentrated in the same financial sector which provoked the crash a few years back.
The ascendancy of the plutocracy has been accompanied by cuts in public spending on health, education and social services. (Though painful, these cuts would be much larger and catastrophic had the regressive GOP House, steered off of the rails by the Tea Party, not been reigned in some. You may think it is coincidental that the very same plutocrats who benefit from the ascendancy of the financial sector at the expense of the common good are among those responsible for starting and funding the Astro Turf, manufactured, ill-informed rage-fest that is the Tea Party. You would be wrong).
The bi-polar world of rich bankers in the North racking up record profits and workers everywhere receiving a shrinking share of national income spells out the class basis of “recovery” and “depression,” prosperity for the few and immiseration for the many. This is typified by Detroit, once the cradle of both the auto industry and the organized industrial workers’ leap into the middle-class. The big three auto companies have relocated overseas and to non-union states while the billionaire bankers “restructure” the economy, break unions, lower wages, renege on pensions and rule by administrative decree.
The full article is available here
Thursday, August 15, 2013
Deficit Shrinking, Citizens Don't Know Bc Deficit Hawk Propaganda - Lynn Stuart Parramore
Remember all those deficit hawks who screamed that the federal deficit is spiraling out of control and must be stopped with spending cuts that have a funny way of hurting the pocketbooks of the most vulnerable Americans?
Their excuse for ripping us off has been literally disappearing, but a new Google survey shows that not only do the vast majority Americans not know it — half of the public actually believes that the deficit is growing.
Here are the facts: The U.S. budget deficit has been shrinking at a rapid rate over the last few months. The deficit peaked at 10.2 percent of GDP in 2009, but over the past four quarters, it has shrunk to a mere 4.2 percent of GDP. What’s more, the Congressional Budget Office predicts that the deficit will fall to 2.1 percent of GDP in 2015.
Why such a disconnect? Unfortunately, disgraceful propaganda has left the public misinformed and confused.
The full article is available here
Tuesday, August 6, 2013
48 Years Later, Same Conservative Arguments Against Voting Rights Act - Ari Rabin Havt
One would hope that segregationists' arguments would have been relegated to the dust bin of history, rather than in use by conservatives today to defend discriminatory policies.
Earlier this summer, the Supreme Court struck down a key provision of the Voting Rights Act that helped force states and localities with a history of discrimination to have the Justice Department preclear proposed changes to voting regulations. Representative John Lewis (D-GA), a civil rights icon, described the decision as "a dagger in the heart of the Voting Rights Act of 1965."
Today marks the 48th anniversary of President Lyndon Johnson signing that act into law.
One would hope that segregationists' arguments against the Voting Rights Act of 1965 would have been relegated to the dust bin of history, rather than in use by conservatives today to defend discriminatory policies.
Unfortunately, much of the rhetoric used to attack the law and defend the Supreme Court's decision remains rooted in the segregationist defenses of Jim Crow.
Regardless of the motives, the use of similar rhetoric shows a lack of historic perspective.
Regardless of the motives, the use of similar rhetoric shows a lack of historic perspective.
The full article is available here
Thursday, July 4, 2013
Obama, Drones, and the Myth of Redemptive Violence - Steve Holt
Drone warfare demands an ethical response.
On Dec. 14, President Obama stood in the White House press room, tears in his eyes, and spoke for many Americans who had watched the terrifying events unfolding in Newtown, CT.
A little more than a month later, on Jan. 23, a pilotless aircraft owned and operated by the United States and controlled remotely by an individual on U.S. soil launched a targeted attack on the riders of two motorcycles in Yemen. The attack missed its target. It hit the house of Abdu Mohammed al-Jarrah instead, killing several people—including al-Jarrah’s two children.
There was no press conference for the al-Jarrah children.
While America’s drone program has drawn tremendous criticism from abroad and some criticism from across the U.S. political spectrum, the response from the mainstream religious community has been tepid. With the notable exception of Catholic activists who began protesting outside the Creech Air Force Base drone “battle lab” near Las Vegas as early as April 2009, there has been very little moral outrage—not only for the drone program’s civilian casualties, but also for its circumvention of legal due process.
Drone warfare demands an ethical response. These “seemingly omniscient and omnipotent camera planes, flying high above, mete out death and judgment based on images,” says theologian Sarah Sentilles.
The full article is available here
On Dec. 14, President Obama stood in the White House press room, tears in his eyes, and spoke for many Americans who had watched the terrifying events unfolding in Newtown, CT.
A little more than a month later, on Jan. 23, a pilotless aircraft owned and operated by the United States and controlled remotely by an individual on U.S. soil launched a targeted attack on the riders of two motorcycles in Yemen. The attack missed its target. It hit the house of Abdu Mohammed al-Jarrah instead, killing several people—including al-Jarrah’s two children.
There was no press conference for the al-Jarrah children.
While America’s drone program has drawn tremendous criticism from abroad and some criticism from across the U.S. political spectrum, the response from the mainstream religious community has been tepid. With the notable exception of Catholic activists who began protesting outside the Creech Air Force Base drone “battle lab” near Las Vegas as early as April 2009, there has been very little moral outrage—not only for the drone program’s civilian casualties, but also for its circumvention of legal due process.
Drone warfare demands an ethical response. These “seemingly omniscient and omnipotent camera planes, flying high above, mete out death and judgment based on images,” says theologian Sarah Sentilles.
The full article is available here
Thursday, June 27, 2013
Poof! The IRS Scandal Evaporates - Andy Kroll
Liberal outfits were targeted, too.
Bad news for the Republican scandalmongers: The IRS also gave special scrutiny to groups with progressive-sounding names.
A Treasury Department inspector general found no evidence of political influence or bias. The head of the IRS division in question in Cincinnati identified himself to investigators as a "conservative Republican" and said politics played no role in their vetting decisions.
And now it turns out, as the Associated Press reported, the IRS also singled out for extra scrutiny groups applying for nonprofit status with "progressive, "occupy," and "Israel" in their name.
That is, liberal outfits were targeted, too. IRS employees weren't only looking for conservative buzz words as they examined political nonprofit groups; they were on the watch for groups of all political stripes.
So is it case closed on the IRS debacle? Not yet. The agency still needs to explain why its staffers singled out groups in this way, and how it further intends to streamline the vetting process. But is this a liberal political conspiracy? Sure doesn't look like it.
The full article is available here
Bad news for the Republican scandalmongers: The IRS also gave special scrutiny to groups with progressive-sounding names.
A Treasury Department inspector general found no evidence of political influence or bias. The head of the IRS division in question in Cincinnati identified himself to investigators as a "conservative Republican" and said politics played no role in their vetting decisions.
And now it turns out, as the Associated Press reported, the IRS also singled out for extra scrutiny groups applying for nonprofit status with "progressive, "occupy," and "Israel" in their name.
That is, liberal outfits were targeted, too. IRS employees weren't only looking for conservative buzz words as they examined political nonprofit groups; they were on the watch for groups of all political stripes.
So is it case closed on the IRS debacle? Not yet. The agency still needs to explain why its staffers singled out groups in this way, and how it further intends to streamline the vetting process. But is this a liberal political conspiracy? Sure doesn't look like it.
The full article is available here
Saturday, June 22, 2013
How a Nation Unwinds - Joe Klein
The past 40 years have been a time of vaulting libertarianism; we need a communitarian corrective, which seems quite impossible at this moment.
Over the past 40 years, the United States has unwound from its former rigor. Facade has overtaken content, speculation has overtaken development. The middle class is sliding toward dissolution. The wealthy have become an isolated plutocracy. If it weren’t for the fact that this is America, I’d say we were pretty thoroughly cooked.
The past 40 years have been a time of vaulting libertarianism; we need a communitarian corrective, which seems quite impossible at this moment.
There was some hope, a few months ago, that we might actually get a budget this year. Both houses of Congress passed a version; it was time to hammer out the final deal. But the Republicans, following a strategy of nonsense posing as substance and nihilism posing as principle, have blocked any sort of negotiations. They have focused instead on nonscandals. What is not being discussed in Washington?
There is no discussion of the overwhelming power and moral hazard of the five largest banks, which hold assets equal to 56% of the total U.S. economy and remain too big to fail. There is no discussion of the destructive growth of the financial sector, which is siphoning off our smartest young college graduates to create ever-more-complicated (and less substantive) investment schemes, like the collateralized debt obligations that crashed the market in 2008. There is little discussion of the decline of the middle class beyond the cliché-slinging of both sides. But where do we find the work to replace the factory jobs that sustained a prosperous middle class prior to the unwinding.
There are those, like the German historian Oswald Spengler, who believe that civilizations decay and die, that democracy ultimately lapses into plutocracy. They certainly seem to have momentum on their side these days. We have been a nation of Henry Fords and Wright brothers. Our best hope is that, beneath the dissolution, we still are.
The full article is available here
Over the past 40 years, the United States has unwound from its former rigor. Facade has overtaken content, speculation has overtaken development. The middle class is sliding toward dissolution. The wealthy have become an isolated plutocracy. If it weren’t for the fact that this is America, I’d say we were pretty thoroughly cooked.
The past 40 years have been a time of vaulting libertarianism; we need a communitarian corrective, which seems quite impossible at this moment.
There was some hope, a few months ago, that we might actually get a budget this year. Both houses of Congress passed a version; it was time to hammer out the final deal. But the Republicans, following a strategy of nonsense posing as substance and nihilism posing as principle, have blocked any sort of negotiations. They have focused instead on nonscandals. What is not being discussed in Washington?
There is no discussion of the overwhelming power and moral hazard of the five largest banks, which hold assets equal to 56% of the total U.S. economy and remain too big to fail. There is no discussion of the destructive growth of the financial sector, which is siphoning off our smartest young college graduates to create ever-more-complicated (and less substantive) investment schemes, like the collateralized debt obligations that crashed the market in 2008. There is little discussion of the decline of the middle class beyond the cliché-slinging of both sides. But where do we find the work to replace the factory jobs that sustained a prosperous middle class prior to the unwinding.
There are those, like the German historian Oswald Spengler, who believe that civilizations decay and die, that democracy ultimately lapses into plutocracy. They certainly seem to have momentum on their side these days. We have been a nation of Henry Fords and Wright brothers. Our best hope is that, beneath the dissolution, we still are.
The full article is available here
Hey, Paul Ryan! We All Depend on Government, Even You (and Your Mom) - Peter Dreier
Ryan and his family have a long history of relying on government, just like any and all of us do.
Rep. Paul Ryan is back to his old tricks, demonizing people who rely on government to improve their lives. This week, his target was food stamp recipients.
He's already come out in favor of $20 billion in cuts that will throw an estimated two million children, elderly, and disabled Americans off food stamps. But now Ryan -- the millionaire Wisconsin Congressman who was Mitt Romney's VP running mate last year -- is pushing an amendment to eliminate food stamps for people who have $2,000 in savings, or a car worth more than $5,000.
Ryan and his family have a long history of relying on government, just like any and all of us do.
Last summer, in his speech to the GOP convention in Tampa, Ryan told a story about how, after his father's death, his mother "got on a bus every weekday for years, and rode 40 miles each morning to Madison." He explain: “She earned a new degree and learned new skills to start her small business.It wasn't just a new livelihood. It was a new life. And it transformed my Mom from a widow in grief to a small businesswoman whose happiness wasn't just in the past. Her work gave her hope. It made our family proud. And to this day, my Mom is my role model.”
Ryan meant this as a celebration of his mother's lift-herself-by-her-own-bootstraps spirit.
But shouldn't someone remind Ryan that the bus was a public service, that the road was built and maintained by government, and that the University of Wisconsin in Madison is a public institution?
This is the Paul Ryan whose budget plan would have slashed funding for public education, roads, and public services that are the investments we need to lift people out of poverty and strengthen our economy. Now he's taking aim at the most vulnerable people in society -- food stamp recipients.
The full article is available here
Rep. Paul Ryan is back to his old tricks, demonizing people who rely on government to improve their lives. This week, his target was food stamp recipients.
He's already come out in favor of $20 billion in cuts that will throw an estimated two million children, elderly, and disabled Americans off food stamps. But now Ryan -- the millionaire Wisconsin Congressman who was Mitt Romney's VP running mate last year -- is pushing an amendment to eliminate food stamps for people who have $2,000 in savings, or a car worth more than $5,000.
Ryan and his family have a long history of relying on government, just like any and all of us do.
Last summer, in his speech to the GOP convention in Tampa, Ryan told a story about how, after his father's death, his mother "got on a bus every weekday for years, and rode 40 miles each morning to Madison." He explain: “She earned a new degree and learned new skills to start her small business.It wasn't just a new livelihood. It was a new life. And it transformed my Mom from a widow in grief to a small businesswoman whose happiness wasn't just in the past. Her work gave her hope. It made our family proud. And to this day, my Mom is my role model.”
Ryan meant this as a celebration of his mother's lift-herself-by-her-own-bootstraps spirit.
But shouldn't someone remind Ryan that the bus was a public service, that the road was built and maintained by government, and that the University of Wisconsin in Madison is a public institution?
This is the Paul Ryan whose budget plan would have slashed funding for public education, roads, and public services that are the investments we need to lift people out of poverty and strengthen our economy. Now he's taking aim at the most vulnerable people in society -- food stamp recipients.
The full article is available here
Friday, June 21, 2013
In All But 6 States, You Can Be Fired For Being Victim of Domestic Violence - Bryce Covert
The loss of a job thanks to abuse can end up cutting off a lifeline to end that abuse.
Last week, Carie Charlesworth, a teacher in California and a victim of domestic violence, was fired from her job because her abusive husband invaded the school parking lot and put the school on lockdown.
While her abuser was sent to prison, she was also punished for his crime by losing her employment. The school’s action -– firing her because she is a victim of domestic abuse –- is sadly legal in most states.
Just six, Connecticut, Hawaii, Illinois, New York, Oregon, and Rhode Island, have laws on the books that bar employment discrimination against victims of domestic abuse or sexual assault, according to an up-to-date document tracking these laws from Legal Momentum.
The loss of a job thanks to abuse can end up cutting off a lifeline to end that abuse. Three-quarters of women report staying with their abuser longer because of economic reasons.
“We know that economic abuse is frequent in these situations, and abusers often try to get the victim fired in order to increase her financial dependency on him,” Kim Gandy, president and CEO of the National Network to End Domestic Violence, told ThinkProgress. By showing up at a partner’s workplace, in many states an abuser can put her job at risk, potentially driving her back into his arms.
The full article is available here
Last week, Carie Charlesworth, a teacher in California and a victim of domestic violence, was fired from her job because her abusive husband invaded the school parking lot and put the school on lockdown.
While her abuser was sent to prison, she was also punished for his crime by losing her employment. The school’s action -– firing her because she is a victim of domestic abuse –- is sadly legal in most states.
Just six, Connecticut, Hawaii, Illinois, New York, Oregon, and Rhode Island, have laws on the books that bar employment discrimination against victims of domestic abuse or sexual assault, according to an up-to-date document tracking these laws from Legal Momentum.
The loss of a job thanks to abuse can end up cutting off a lifeline to end that abuse. Three-quarters of women report staying with their abuser longer because of economic reasons.
“We know that economic abuse is frequent in these situations, and abusers often try to get the victim fired in order to increase her financial dependency on him,” Kim Gandy, president and CEO of the National Network to End Domestic Violence, told ThinkProgress. By showing up at a partner’s workplace, in many states an abuser can put her job at risk, potentially driving her back into his arms.
The full article is available here
Supreme Court Protects Corporations From Liability At Consumer's Expense - Nicole Flatow
Another instance of the most business-friendly justices in 65 years siding with their friends.
In a 5-3 ruling with Justice Sonia Sotomayor recused, Justice Antonin Scalia eviscerated almost any opportunity small merchants have to challenge alleged monopolistic practices by American Express in their credit card agreements.
In a 5-3 ruling with Justice Sonia Sotomayor recused, Justice Antonin Scalia eviscerated almost any opportunity small merchants have to challenge alleged monopolistic practices by American Express in their credit card agreements.
Sound familiar? Earlier this term, the court turned back on
procedural grounds a lawsuit alleging monopolistic practices by
Comcast. A week after that, they turned back the claims of workers to
challenge employer practices as a class.
And in 2011, they issued one of the worst blows to consumer rights in years when they held that consumers challenging $30 fees could not sue together as a class. In each of these cases, the court’s procedural rulings mean the parties may never get to argue about whether these corporations actually violated the law. And as a consequence, these corporations may never be held accountable.
And in 2011, they issued one of the worst blows to consumer rights in years when they held that consumers challenging $30 fees could not sue together as a class. In each of these cases, the court’s procedural rulings mean the parties may never get to argue about whether these corporations actually violated the law. And as a consequence, these corporations may never be held accountable.
Today’s ruling was yet another point in the Chamber of Commerce’s remarkable tally of wins before the Roberts Court, and another chance for the most business-friendly justices in 65 years to side with their friends.
The full article is available here
Tuesday, June 18, 2013
Keystone XL isn’t built yet, already it’s faulty - John Upton
Already TransCanada is digging up stretches of faulty piping.
Property owners who watched with disgust and fear as TransCanada contractors ripped up their land to lay the southern leg of the Keystone XL pipeline are being treated to a repeat performance.
The pipeline isn’t even in service yet, but already TransCanada is digging up stretches of faulty piping and replacing them, raising fresh safety fears. T
he pipeline is intended to link up with the Keystone XL northern leg — which is still waiting for approval from the Obama administration — and then carry tar-sands oil down to refineries in Texas.
Property owners who watched with disgust and fear as TransCanada contractors ripped up their land to lay the southern leg of the Keystone XL pipeline are being treated to a repeat performance.
The pipeline isn’t even in service yet, but already TransCanada is digging up stretches of faulty piping and replacing them, raising fresh safety fears. T
he pipeline is intended to link up with the Keystone XL northern leg — which is still waiting for approval from the Obama administration — and then carry tar-sands oil down to refineries in Texas.
The full article is available here
Saturday, May 18, 2013
Local Business Helps Communities Thrive - Stacy Mitchell
There’s a connection between the ownership structure of our economy and the vitality of our democracy.
Cities where small, locally owned businesses account for a relatively large share of the economy have stronger social networks, more engaged citizens, and better success solving problems, according to several recently published studies.
And in the face of climate change, those are just the sort of traits that communities most need if they are to survive massive storms, adapt to changing conditions, find new ways of living more lightly on the planet, and, most important, nurture a vigorous citizenship that can drive major changes in policy.
That there’s a connection between the ownership structure of our economy and the vitality of our democracy may sound a bit odd to modern ears. But this was an article of faith among 18th- and 19th-century Americans, who strictly limited the lifespan of corporations and enacted antitrust laws whose express aim was to protect democracy by maintaining an economy of small businesses.
It wasn’t until the 20th century that this tenet of American political thought was fully superseded by the consumer-focused, bigger-is-better ideology that now dominates our economic policy-making. Ironically, the shift happened just as social scientists were furnishing the first bona fide empirical evidence linking economic scale to civic engagement.
The full article is available here
Cities where small, locally owned businesses account for a relatively large share of the economy have stronger social networks, more engaged citizens, and better success solving problems, according to several recently published studies.
And in the face of climate change, those are just the sort of traits that communities most need if they are to survive massive storms, adapt to changing conditions, find new ways of living more lightly on the planet, and, most important, nurture a vigorous citizenship that can drive major changes in policy.
That there’s a connection between the ownership structure of our economy and the vitality of our democracy may sound a bit odd to modern ears. But this was an article of faith among 18th- and 19th-century Americans, who strictly limited the lifespan of corporations and enacted antitrust laws whose express aim was to protect democracy by maintaining an economy of small businesses.
It wasn’t until the 20th century that this tenet of American political thought was fully superseded by the consumer-focused, bigger-is-better ideology that now dominates our economic policy-making. Ironically, the shift happened just as social scientists were furnishing the first bona fide empirical evidence linking economic scale to civic engagement.
The full article is available here
Tuesday, May 14, 2013
Exonerated Prisoners Are Winning the Fight Against the Death Penalty - David Love
Innocence, of course, is just one reason to end executions.
Abolition in Maryland, which has executed more than 300 people, is important. It is the first state below the Mason-Dixon line to abolish the death penalty. The South accounts for 80 percent of the executions in the US.
Innocence, of course, is just one reason to end executions. The death penalty is punishment for the poor, disproportionately of color, reserved for those who cannot afford the best justice money can buy.
Encouragingly, death penalty sentencing is on the decline. Last year saw the second lowest number of new death sentences since 1976.
Faced with the inherent brutality of the death penalty, its violation of human rights, exorbitant cost, ineffectiveness, dysfunction and incessant risk of killing innocent people, other states will follow Maryland’s example.
The full article is available here
Abolition in Maryland, which has executed more than 300 people, is important. It is the first state below the Mason-Dixon line to abolish the death penalty. The South accounts for 80 percent of the executions in the US.
Innocence, of course, is just one reason to end executions. The death penalty is punishment for the poor, disproportionately of color, reserved for those who cannot afford the best justice money can buy.
Encouragingly, death penalty sentencing is on the decline. Last year saw the second lowest number of new death sentences since 1976.
Faced with the inherent brutality of the death penalty, its violation of human rights, exorbitant cost, ineffectiveness, dysfunction and incessant risk of killing innocent people, other states will follow Maryland’s example.
The full article is available here
Monday, April 29, 2013
277 Million Boston Bombings - Robert Scheer
To this day, antipersonnel weapons—the technologically refined version of the primitive pressure cooker fragmentation bombs exploded in Boston—maim and kill farmers and their children in Southeast Asia.
The horror of Boston should be a reminder that the choice of weaponry can be in itself an act of evil. President Obama made clear that “anytime bombs are used to target innocent civilians, it is an act of terror.”
Obama was right to blast the use of weapons that targeted civilians in Boston as inherent acts of terrorism, but by what standard do such weapons change their nature when they are deployed by governments against civilians?
America’s role in the deployment of antipersonnel land mines, and our country’s refusal to sign off on a ban on cluster munitions agreed to by most of the world’s nations, that offers the most glaring analogy with the carnage of Boston.
To this day, antipersonnel weapons—the technologically refined version of the primitive pressure cooker fragmentation bombs exploded in Boston—maim and kill farmers and their children in Southeast Asia. The United States dropped 277 million cluster bomblets on Laos between 1964 and 1973.
From 2001 through 2002, the United States dropped 1,228 cluster bombs containing 248,056 submunitions in Afghanistan, and U.S. and British forces used almost 13,000 cluster munitions containing an estimated 1.8 million to 2 million submunitions during the first three weeks of combat in Iraq in 2003.
The whole point of a cluster weapon is to target an area the size of several football fields with the same bits of maiming steel that did so much damage in Boston. The International Committee of the Red Cross, which has been active in attempting to clear land of remaining bomblets, estimates 10,000 Lao civilian casualties to date from such weapons. As many as twenty-seven million unexploded bomblets remain in the country, according to the committee.
On Aug. 1, 2010, the Convention on Cluster Munitions, banning such weapons, became a matter of international law for the 111 nations, including 18 NATO members, that signed the agreement. The U.S. was not one of them. Current American policy, according to the Congressional Research Service report, is that “cluster munitions are available for use by every combat aircraft in the U.S. inventory; they are integral to every Army or Marine maneuver element and in some cases constitute up to 50 percent of tactical indirect fire support.”
The full article is available here
The horror of Boston should be a reminder that the choice of weaponry can be in itself an act of evil. President Obama made clear that “anytime bombs are used to target innocent civilians, it is an act of terror.”
Obama was right to blast the use of weapons that targeted civilians in Boston as inherent acts of terrorism, but by what standard do such weapons change their nature when they are deployed by governments against civilians?
America’s role in the deployment of antipersonnel land mines, and our country’s refusal to sign off on a ban on cluster munitions agreed to by most of the world’s nations, that offers the most glaring analogy with the carnage of Boston.
To this day, antipersonnel weapons—the technologically refined version of the primitive pressure cooker fragmentation bombs exploded in Boston—maim and kill farmers and their children in Southeast Asia. The United States dropped 277 million cluster bomblets on Laos between 1964 and 1973.
From 2001 through 2002, the United States dropped 1,228 cluster bombs containing 248,056 submunitions in Afghanistan, and U.S. and British forces used almost 13,000 cluster munitions containing an estimated 1.8 million to 2 million submunitions during the first three weeks of combat in Iraq in 2003.
The whole point of a cluster weapon is to target an area the size of several football fields with the same bits of maiming steel that did so much damage in Boston. The International Committee of the Red Cross, which has been active in attempting to clear land of remaining bomblets, estimates 10,000 Lao civilian casualties to date from such weapons. As many as twenty-seven million unexploded bomblets remain in the country, according to the committee.
On Aug. 1, 2010, the Convention on Cluster Munitions, banning such weapons, became a matter of international law for the 111 nations, including 18 NATO members, that signed the agreement. The U.S. was not one of them. Current American policy, according to the Congressional Research Service report, is that “cluster munitions are available for use by every combat aircraft in the U.S. inventory; they are integral to every Army or Marine maneuver element and in some cases constitute up to 50 percent of tactical indirect fire support.”
The full article is available here
Saturday, April 27, 2013
Austerity's Failure = Everywhere You Look - Jon Queally
Austerity leads the economy to perform more poorly.
The last week has been a flurry of headlines decrying the complete and utter failure of the 'austerity experiment' across the globe, with an influential academic paper from Harvard economists becoming the poster-child not only of poor scholarship but also failed common sense.
As New York Times columnist and Nobel economist Paul Krugman notes:
In a Bloomberg interview earlier this month Columbia University's Joseph Stiglitz was blunt about the historical record. “There is no instance of a large economy getting to growth through austerity," he said. "Austerity leads the economy to perform more poorly. It leads to more unemployment, lower wages, more inequality.”
The Reinhart and Rogoff paper was not used only to argue for cuts to popular social insurance programs, it was also used to argue against government efforts to boost the economy and create jobs.
You get the idea: The austerity agenda looks a lot like a simple expression of upper-class preferences, wrapped in a facade of academic rigor. What the top 1% wants becomes what economic science says we must do.
The full article is available here
The last week has been a flurry of headlines decrying the complete and utter failure of the 'austerity experiment' across the globe, with an influential academic paper from Harvard economists becoming the poster-child not only of poor scholarship but also failed common sense.
As New York Times columnist and Nobel economist Paul Krugman notes:
"The austerian position has imploded; not only have its predictions about the real world failed completely, but the academic research invoked to support that position has turned out to be riddled with errors, omissions and dubious statistics.
The academic research mentioned is the work of Harvard economists Carmen Reinhart and Ken Rogoff, which was revealed last week to be riddled with spread sheet errors that vastly undercut the paper's conclusion. Those faulty conclusions, however, were widely used by pro-austerity policy-makers on both sides of the Atlantic to justify slashing public spending, imposing harsh cuts on social programs and worker benefits."
In a Bloomberg interview earlier this month Columbia University's Joseph Stiglitz was blunt about the historical record. “There is no instance of a large economy getting to growth through austerity," he said. "Austerity leads the economy to perform more poorly. It leads to more unemployment, lower wages, more inequality.”
The Reinhart and Rogoff paper was not used only to argue for cuts to popular social insurance programs, it was also used to argue against government efforts to boost the economy and create jobs.
You get the idea: The austerity agenda looks a lot like a simple expression of upper-class preferences, wrapped in a facade of academic rigor. What the top 1% wants becomes what economic science says we must do.
The full article is available here
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