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Prosperity for the People
Economic news & analysis
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By Matthew Stoller, fellow at New America Foundation Apr 5 2017 A wave of new research shows how as corporations get bigger, the share of money out there going to actual workers declines. Increasingly, the problem of corporate concentration, and in its more extreme form, monopoly, is returning to the... Continue reading
Posted Apr 9, 2017 at Prosperity for the People
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By Johannes Karreth and Jonathan Polk The following is a guest post from political scientists Johannes Karreth (SUNY-Albany) and Jonathan Polk (Gothenburg, Sweden). For several decades, center-left parties across Europe have undergone major soul-searching about whether a more centrist position helps them win elections. In Britain, for instance, in an... Continue reading
Posted Feb 25, 2017 at Prosperity for the People
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by Jeff Spross, cross-posted from The Week One big reason that Donald Trump won the presidency is that he cleaned up with Americans living outside cities. "Hillary lost rural America three to one," one anonymous Democratic Party source told Politico. In the Rust Belt and the Midwest, Trump flipped key... Continue reading
Posted Dec 5, 2016 at Prosperity for the People
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By John Whitesides Reuters.com David Betras could see trouble coming. The Democratic Party chairman in Youngstown, Ohio, wrote to Hillary Clinton's advisers in May warning she needed to put a jobs-focused message at the heart of her White House campaign or else watch blue-collar voters in states like Ohio, Michigan... Continue reading
Posted Nov 27, 2016 at Prosperity for the People
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by Pavlina R. Tcherneva, Associate Professor of Economics and Director of the economics program at Bard College cross-posted from New Economic Perspectives Economic consequences A lot has been said already. For me, this was the culmination of a decades-long process where the Democrats sold out their progressive agenda and happily... Continue reading
Posted Nov 20, 2016 at Prosperity for the People
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Bill Mitchell is Professor of Economics and Director of the Centre of Full Employment and Equity (CofFEE), at the University of Newcastle, NSW, Australia. Cross posted from his blog. Like many aspects of mainstream economic theory – free trade – is one of the concepts that sounds okay at first... Continue reading
Posted Oct 27, 2016 at Prosperity for the People
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The Following is an excerpt from University of Cambridge economist Ha-Joon Chang's book, 23 Things They Don't Tell You About Capitalism Thing 17: More Education in Itself is Not Going to Make a Country Richer There is remarkably little evidence showing that more education leads to greater national prosperity. Much... Continue reading
Posted Sep 27, 2016 at Prosperity for the People
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Alan Jay Levinovitz is an assistant professor of philosophy and religion at James Madison University in Virginia Since the 2008 financial crisis, colleges and universities have faced increased pressure to identify essential disciplines, and cut the rest. In 2009, Washington State University announced it would eliminate the department of theatre... Continue reading
Posted Sep 26, 2016 at Prosperity for the People
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Research shows 1.5 million households and 3 million children are living in desperate economic conditions. By Zaid Jilani, cross-posted from AlterNet The World Bank and other global institutions use a very specific measure to record global poverty rates. They gather data designed to record the number of people in a... Continue reading
Posted Aug 24, 2016 at Prosperity for the People
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Cross-posted from Pieria This is an abridged version of a series which was originally split into seven parts. You can read the original series here, or an unabridged pdf here. For critics of mainstream economics, the 2008 financial crisis represents the final nail in the coffin for a paradigm that... Continue reading
Posted Jul 24, 2016 at Prosperity for the People
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Shorter workdays means more time for picnics in the sun. Photo source: Ola Ericson, ImagebankSweden.se Anthony Karge, Knote Futurists from a century ago would be disappointed in some regards with how society has progressed. Where are the flying cars? What about the moon colonies? Perhaps most importantly, how come the... Continue reading
Posted Jul 10, 2016 at Prosperity for the People
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Image: Bob Jagendorf By Lori Wallach, Director, Public Citizen’s Global Trade Watch Crossposted from Huffington Post Today’s alarming fourth-year trade data on President Obama’s U.S.-Korea Free Trade Agreement (FTA) arrived just as the Obama administration has started its hard sell to pass the Trans-Pacific Partnership (TPP). And that is a... Continue reading
Posted Jun 19, 2016 at Prosperity for the People
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Image by another13 Cross-posted from Naked Capitalism Economist Michael Hudson has sent us the transcript of his newly-released interview with Justin Ritchie on February 26 with XE Podcast; You can also listen to the podcast here. Justin Ritchie: In your book [Killing the Host], you draw this metaphor of parasites... Continue reading
Posted Apr 10, 2016 at Prosperity for the People
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By Thornton Parker Most Modern Monetary Theory (MMT) advocates probably took months to get comfortable with it. But like a personal computer, one need not understand its innards to use its power. The great power of MMT is its lesson that the federal government can create new dollars by running... Continue reading
Posted Feb 4, 2016 at Prosperity for the People
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Introduction by Yves Smith. Cross-posted from Naked Capitalism, originally posted at CounterPunch As someone who has chosen to live in large cities as an adult (New York, Sydney, and for a few months on a project, London), I greatly prefer the vibrancy of areas with a mix of income levels,... Continue reading
Posted Jan 14, 2016 at Prosperity for the People
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by Mike Bird, October 7, 2015 A new economics paper is making the rounds this week, and it has some pretty damning conclusions for the state of the whole subject. Federal Reserve economists Andrew Chang and Phillip Li set about researching how many of the results published in top economics... Continue reading
Posted Oct 10, 2015 at Prosperity for the People
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Ha-Joon Chang is a professor of economics at Cambridge University. He is the author of 23 Things They Don't Tell You About Capitalism (from which this is an excerpt), and Economics: the User's Guide. The free market doesn’t exist. Every market has some rules and boundaries that restrict freedom of... Continue reading
Posted Mar 18, 2015 at Prosperity for the People
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Reposted from New Economic Perspectives By William K. Black, Professor of Economics, UMKC January 13, 2015 One of the many quips ascribed to Winston Churchill is that it was well that Clement Atlee were modest for he had much to be modest about. This article comments on a remarkable article... Continue reading
Posted Jan 23, 2015 at Prosperity for the People
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More than five years after the fall of Lehman Brothers we are still dealing with the problem of high unemployment, the worst kind of “waste” in economic theory. Is there a better approach? A number of scholars, notably economics Professor Randy Wray of the University of Missouri-Kansas City, have long... Continue reading
Posted Jan 18, 2015 at Prosperity for the People
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by Yves Smith, reposted from Naked Capitalism This video, in which economist Mariana Mazzucato discusses her book The Entrepreneurial State, explains how most of what you think you know about innovation is wrong. Innovation is not led by the private sector; it lacks the long term horizons and risk appetite... Continue reading
Posted Nov 21, 2014 at Prosperity for the People
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Economics Professor L. Randall Wray takes the fear and loathing out of understanding federal budget deficits. Whenever a demagogue wants to whip up hysteria about federal budget deficits, he or she invariably begins with an analogy to a household’s budget: “No household can continually spend more than its income, and... Continue reading
Posted Nov 16, 2014 at Prosperity for the People
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The bottom line is that “Republican obstructionism” is entirely of the Democrat’s making. What Reid (and Obama) want — or say they want — to do in 2013, and butchered doing in 2010, could and should have done in 2009, immediately after Obama’s inauguration. Republicans would have had no ability to obstruct had Obama and the Democrats not deliberately given them the power to do so. The gridlock is a gridlock of choice. Continue reading
Posted Oct 22, 2014 at Prosperity for the People
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Financial Criminals Have Been Fined Billions, but They Rarely Pay Even though prosecutors declare victory when massive penalties are handed down, most of the money never gets recovered. by Joe Pinsker, crossposted from The Atlantic On a plane earlier this week, I watched The Wolf of Wall Street. The film’s... Continue reading
Posted Sep 21, 2014 at Prosperity for the People
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Zaida Ramos, employed at Cooperative Home Care Associates, with her son in their East Harlem, N.Y., neighborhood. YES! photo by Stephanie Keith. Cooperative Home Care Associates has 2,300 workers who enjoy good wages, regular hours, and family health insurance. With an investment of $1.2 million into the cooperative sector, New... Continue reading
Posted Sep 1, 2014 at Prosperity for the People
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Reposted from NakedCapitalism.com Karl Fitzgerald of Renegade Economists interviews economist Michael Hudson about Thomas Piketty’s new book and also discusses the lastest developments in the Ukraine. https://s3.amazonaws.com/3cr.podcast/audio/3CRCast-2014-04-23-78282.mp3 Karl Fitzgerald: Sweeping the world have been glowing reviews of the new book by Thomas Piketty, Capital in the 21st Century. I’ve been... Continue reading
Posted Jul 14, 2014 at Prosperity for the People