Category: Economics

“Dollar stores feed more Americans than Whole Foods Market, and what we’ve learned is that they’re not just a symptom of poverty, they are a cause of it.”

Whatever the political implications, we should pursue an anti-inequality agenda because it is the right thing to do. It is also the honest thing to do. Telling the victims of a four-decade long policy of upward redistribution that it is their fault, is a lie of Trumpian proportions

While it is understandable that the right likes to pretend that the rich getting all the money was just a happy outcome of the natural forces of globalization and technology, it is malpractice for a progressive to go along with this charade

More ominous, a greater economically structured and unequal system – a postmodern caste system — may come to define the next new normal

It’s not a COVID-19 economy. It’s a capitalist economy, the instability of which has been rendered even more unstable by the current COVID-19 health crisis

A positive outcome of the coronavirus disaster would be a wider appreciation that liberating ourselves from capitalism requires rejecting its self-justifying ideology of efficiency.

The US is currently experiencing what might be called a ‘triple crisis’. A health crisis that shows little sign of abating. A deep economic crisis that is still in its early phases. And a ripening political crisis

So wage cuts and reductions, now underway, will not result in renewed business investment and general rehiring of the 45 million laid off. Wage cuts don’t result in real investment and growth

The good news here is the large percentage of workers who expect to be called back by their employer, but the steps by the government to contain the pandemic and support the recovery are less encouraging
As nearly 30 million Americans have filed for unemployment in just six weeks and millions worldwide face hunger and poverty, we look at the global economic catastrophe triggered by the pandemic and its impact on the most vulnerable