Category: Economics

Matthew Cunningham-Cook: Georgia’s Senate Runoff Will Determine Whether the Minimum Wage Increases

“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.”

Dean Baker: Donald Trump and Being Deplorable

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

Dean Baker: Changes that Would Make a Difference in the Biden Administration

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

David Rosen: After Covid: Will the Recession Become a Depression?

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

Jack Rasmus: Second COVID-19 Wave and the U.S. Economy

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

Richard D. Wolff: COVID-19 Exposes Weakness of Major Theory Used to Justify Capitalism

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.

Jack Rasmus: Why 3rd Quarter US Economic ‘Rebound’ Will Falter

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

Jack Rasmus: Two Fictions of Mainstream Economics

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

Dean Baker: Pandemic Causes Loss of 20,500,000 Jobs, Unemployment at 14.7 Percent

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

Thomas Piketty: Coronavirus Pandemic Has Exposed “Violence of Social Inequality”

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

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