America’s Dire Inequality Demands a New Conceptual Framework. This Economist Has One.
Lance Taylor explains that wage repression — far more than monopoly power, offshoring or technological change — is driving rising inequality.
Read more...Category Archives: Politics
CalPERS Cooks Its Books: Grossly Understated Investment Consultant Meketa’s Expenses in Annual Financials; Made a Criminal False Account by Burying the Cost
CalPERS violates accounting rules by hiding outside consulting costs in internal investment overheads. None of the possible reasons are good.
Read more...CalPERS’ Bad Numbers: CEO Marcie Frost’s Multi-Hundred Thousand /Year Advisor Randle Communications Missing from Board Reports
A remarkable series of accidents led to the CalPERS board not being told how much CEO Marcie Frost’s advisor Randle Communications costs.
Read more...‘Dereliction of Duty’: Outrage as USPS Board Issues Gushing Praise for DeJoy Amid Mail Slowdowns, Medicine Delays, and Straw-Donor Scandal
The latest sordid episode in the teardown of the US mail service.
Read more...Democracy Scares, from the Destruction of Bryan to the Abdication of Bernie: Why America Desperately Needs a Second Populist Movement but Ain’t Gonna Get One an interview + Review of The People, No! A Brief History of Anti-Populism by Thomas Frank
Thomas Frank explains why populist campaigners face such a hostile environment now.
Read more...Brexit: Pear Shaped
A desperate Government Brexit ploy, perhaps conceived to increase its negotiating options, has quickly become an own goal.
Read more...History Gives Reason to Hope That We Can Beat Inequality
Not surprisingly, fighting inequality has always been an uphill battle, but history gives some insight on tactics.
Read more...Influential California State University Council Calls for CalPERS CEO Marcie Frost to Go on Administrative Leave During Investigation by Inspector General
A CSU group has asked Gavin Newsom to put CalPERS CEO Marcie Frost on administrative leave while an inspector general probes governane failings.
Read more...Hoboken, New Jersey Sues Oil Industry for Climate Impacts From its ‘Deceptive Actions’
New Jersey has now filed lawsuits to pin liability on fossil fuel interests for climate change, with the city of Hoboken being the latest.
Read more...China Faces Food Shortage?
COVID-19 has rendered food security shaky, in the medium to long term, for many countries. Does China face impending food shortages?
Read more...‘The Situation Is Dire’: As Trump Takes Victory Lap, New Jobs Report Reveals Alarming Surge in Permanent Unemployment
As we cruise into Labor Day, the state of permanent U.S. unemployment is dire; and with no end in sight to the pandemic, will only worsen.
Read more...Michael Hudson: Debt, Land and Money, From Polanyi to the New Economic Archaeology
Tracing key influences on Karl Polanyi as welll as some of his important initiatives after The Great Transformation.
Read more...Robert Pollin: Biden Not Phasing Out Fossil Fuel, Relies on Carbon Capture
Robert Pollin critiques the Biden climate plan for over-relying on unproven carbon capture, investing too little in solar and wind, and treating China as a rival.
Read more...State Controller Betty Yee Calls for Public Discussion of CalPERS Governance Reforms Following Sudden Departure of CIO Ben Meng
Controller Betty Yee forcefully slapped down CalPERS’ CEO Frost’s claim that Yee was satisfied with the burial of Yee’s governance issues.
Read more...Are Riots Counterproductive, and Who Decides?
Riots and street violence are often blamed for producing a political backlash, but the real picture is more complex.
Read more...