Belief in Meritocracy Is Not Only False, It’s Bad for You
Meritocracy is a dubious ideology, save for supporting the status quo.
Read more...Category Archives: Income disparity
The Delphic Oracle Was Their Davos: A Four-Part Interview With Michael Hudson: A New “Reality Economics” Curriculum Is Needed (Part 4)
How mainstream economics ignores the lessons from antiquity on the destructiveness of oligachies, and how early industrialists and business schools promoted anti-rentier, socialit policies.
Read more...The Delphic Oracle Was Their Davos: A Four-Part Interview With Michael Hudson: The Inherent Financial Instability in Western Civilization’s DNA (Part 3)
By John Siman, who is also the author of Part 1 and Part 2 in this series John Siman: It seems that unless there’s a Hammurabi-style “divine king” or some elected civic regulatory authority, oligarchies will arise and exploit their societies as much as they can, while trying to prevent the victimized economy from defending […]
Read more...As GOP Deploys ‘Nuclear Option’, New Reports Detail Damage Done By Trump’s Far-Right Takeover of Judiciary
In just under two years on the bench, Trump’s narrow-minded elitist judges have already harmed workers, consumers, voters, immigrants, reproductive rights, and many more.
Read more...The Delphic Oracle Was Their Davos: A Four-Part Interview With Michael Hudson: Mixed Economies Today, Compared To Those Of Antiquity (Part 2)
How mixed economies have mixed it up over time.
Read more...Money Talks, Big Time: 1% Politics and the Scandals of A New Gilded Age
A social order where the power of money plays an outsized role looks illegitiamate, particularly when citizens have been sold the myth of meritocracy.
Read more...The Delphic Oracle Was Their Davos: A Four-Part Interview With Michael Hudson About His Forthcoming Book The Collapse of Antiquity (Part 1)
Michael Hudson describes how, in antiquity in Greece and Rome, emerging oligarchs ended the practice of debt jubilees, impoverishing laborers.
Read more...Brave Old World: Immigration, Inequality and Intergenerational Mobility in the US
Economic mobility varies across the US, and tends to reflect the degree of mobility in the countries from which isettlers came.
Read more...Profile of a Scam: How Rick Singer Built a College Entrance Cheating Machine
An important Wall Street Journal story digs into how Rick Singer created his college entrance cheating empire.
Read more...Work of the Past, Work of the Future
How the change in the nature of work has helped increase income inequality.
Read more...The #MMT Case for Progressive Taxes
MMT advocate typically shy away from calling for progressive taxes. A case as to why that’s a lost opportunity.
Read more...“Middle Class” Once Meant Stability and Now Means Fragility
The middle class used to be the bedrock of American institutions. Now its members are coping with an uncertain future.
Read more...A Way-Too-Early Handicapping of the 2020 Presidential Race
2020 is already in the news. so you might as well start working on your scoresheet!
Read more...Another Way the Rich Get Richer: US Indicts Fifty for College Admissions Fraud
Federal prosecutors indicted fifty people yesterday for college admissions fraud at several elite institutions, including Georgetown, Stanford, and Yale. Serious discussion of how college admissions procedures foster inequality is long overdue.
Read more...Economic Consequences of the U.S. Convict Labor System
US counties with convict labor often have lower wage and employment growth
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