Tag: Income disparity

Beware Billionaires Bearing Gifts

By Leo W. Gerard, the international president of the United Steelworkers Union (USW). Produced by the Independent Media Institute. There’s a new Koch organization in town. Instead of trying to buy politicians to do the bidding of billionaires, as Charles and David Koch have historically done, this foundation will support community groups trying to cure […]

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Bankruptcy: An Option for Taxi Drivers Crushed by Medallion Loans?

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. The New York Times published a two-part series on Monday on predatory lending to taxi drivers to purchase taxi medallions. Part one, ‘They Were Conned’: How Reckless Loans Devastated a Generation of Taxi […]

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Trump’s Sneak Attack on Social Security

By Nancy J. Altman, a writing fellow for Economy for All, a project of the Independent Media Institute, has a 40-year background in the areas of Social Security and private pensions. She is president of Social Security Works and chair of the Strengthen Social Security coalition. Her latest book is The Truth About Social Security. She […]

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Public-Private Partnerships Fad Fails

Jerri-Lynn here. This succinct post dissects the fad for public-private partnerships – touted to replace another neoliberal god that failed: privatization. By Jomo Kwame Sundaram, a former economics professor, was Assistant Director-General for Economic and Social Development, Food and Agriculture Organization, who received the Wassily Leontief Prize for Advancing the Frontiers of Economic Thought in […]

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Bill Black: Ocasio-Cortez & Sanders Introduce Bill to Cap Credit Card Interest Rates at 15%

Jerri-Lynn here. Alexandria Ocasio-Cortez and Bernie Sanders earlier this month introduced legislation to cap credit card interest at 15%, and create a Postal Savings Bank. See this earlier post by Yves on the topic: Why You Should Back the Sanders/AOC Plan to Cap Credit Card Interest Rates at 15%, Re-Launch the Postal Savings Bank for […]

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The Lost Ones: The Opportunities and Outcomes of White, Non-College-Educated Americans Born In The 1960s

Lambert here: Everything’s going according to plan! Margherita Borella, Assistant Professor, University of Torino, Mariacristina De Nardi, Senior Scholar in the Opportunity and Inclusive Growth Institute at the Federal Reserve Bank of Minneapolis; Professor, University College London; and CEPR and NBER, Fang Yang, Associate Professor, Louisiana State University, and Douglas Clement, Editor, Federal Reserve Bank […]

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Wolf Richter: Subprime Bites – Auto-Loan Delinquencies Spike to Q3 2009 Level, Despite Strongest Labor Market in Years

By Wolf Richter, a San Francisco based executive, entrepreneur, start up specialist, and author, with extensive international work experience. Originally published at Wolf Street Serious auto-loan delinquencies – 90 days or more past due – jumped to 4.69% of outstanding auto loans and leases in the first quarter of 2019, according to New York Fed […]

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”Who Says Violence Doesn’t Solve Anything?” A Review of Radicalized: Four Tales of Our Present Moment by Cory Doctorow

By John Siman     On the back cover of this collection of four tales— intricately-imagined novellas, really, of about sixty to a hundred pages each — one reads a second subtitle: Radicalized: Dystopia is now. For Doctorow is not warning us about extra bad things that could very likely happen in the near future […]

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The Roots of Health Inequality and the Value of Intra-Family Expertise

Yves here. This article has an important finding, that having health care industry professionals in the family is a plus for longevity in lower-income households. However, it also has a disturbing “blame the poors” subtext, in that it assumes that having relatives in the health biz leads to better lifestyle choices, as if not having […]

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Politicization of Sports and Sportization of Politics: A Global Dangerous Trend

By Francesc Badia i Dalmases, editor of DemocraciaAbierta and a journalist. He has been senior fellow and general manager at the Barcelona Centre for International Affairs (CIDOB), general manager at the European Institute of the Mediterranean and at the Interarts Foundation. He was executive director of URB-AL-III, adecentralised and urban cooperation program for Latin America […]

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Why You Should Back the Sanders/AOC Plan to Cap Credit Card Interest Rates at 15%, Re-Launch the Postal Savings Bank

Because Wednesday was a particularly bad day for me, this post will be brief. Bernie Sanders and Alexandria Ocascio-Cortez introduced The Loan Shark Prevention Act. Its main features: Capping credit card interest rates at 15%, which the Fed may increase if needed for a period of 18 months to preserve the safety and soundness of […]

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Antitrust in American History: Law, Institutions, and Economic Performance

By Mark Glick, Professor, University of Utah Originally published at the Institute for New Economic Thinking website The canonical antitrust principles developed by the Chicago School have dominated the thinking of both judges and the federal agencies that enforce the antitrust laws in the United States for almost four decades. The Chicago School assumed that […]

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Bill Black: Thousands Die, Millions Injured on the Job, and No Businesses Prosecuted

Jerri-Lynn here. In this Real News Network interview, Bill Black describes how OSHA’s few underfunded inspectors can’t do their jobs, and prosecutors don’t prosecute businesses for OSHA non-compliance. Bill is a white collar criminologist, frequent Naked Capitalism contributer, author of The Best Way to Rob a Bank is to Own One, and teaches economics and […]

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Coping With World Bank-Led Financialization

Jerri-Lynn here. Readers might find this post from earlier this month by the same authors helpful, as it provides history and context: World Bank Financialization Strategy Serves Big Finance By Jomo Kwame Sundaram, a former economics professor, was Assistant Director-General for Economic and Social Development, Food and Agriculture Organization, who received the Wassily Leontief Prize […]

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Apple to California Legislators: Consumers Will Hurt Themselves if Provided a Right to Repair

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. There’s a well-known quote, often misattributed to Gandhi, that each of us knows: First they ignore you, then they laugh at you, then they fight you, then you win. The quote’s been […]

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We Live in a World With Very Rich Multinational Mining Companies, and Very Poor Miners

Vijay Prashad is an Indian historian, editor and journalist. He is a writing fellow and chief correspondent at Globetrotter, a project of the Independent Media Institute. He is the chief editor of LeftWord Books and the director of Tricontinental: Institute for Social Research. He has written more than twenty books, including The Darker Nations: A […]

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Buttigieg’s Small Donor Surge: Less There Than Meets the Eye?

Bernie Sanders’ success with small donor funding has turned some of the old rules of American politics on their head. Not only is a high proportion of small donor contributions seen as proof of grass root support, it’s now seen as an indicator that a candidate can operate free of obligation to big money backers. […]

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Dying on the Job: How Workers Get Hurt When Businesses Keep Deadly Secrets

Lambert here: Gerard’s approach sounds a lot like “safety culture” in the airline industry (though the cases may not be comparable, because all except those who can afford to use private jets use commercial aircraft, not the case for the workplace). By Leo W. Gerard, international president of the United Steelworkers Union (USW). This article […]

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Soaring Healthcare Costs Jeopardize Retirement In America

Yves here. This post highlights an ugly fact: Medicare, while better for most people than crapified employer health plans and quite a few Obamacare policies, is not all that hot by world standards due to the high cost of American healthcare. One big problem is despite the government footing roughly 60% of US healthcare costs […]

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The Great Deformation: Why Income Inequality Has Become Intractable

We’ve embedded the slides from a presentation by economist Lance Taylor on the rise in inequality in the US and why it will be difficult to reverse. Taylor has done considerable work on the drivers of income inequality. He focuses, as some others have, on the way the implicit deal in the economy changed in […]

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