Category Archives: Social policy

Whatever Happened to Natchez? How to End the Nightmare of Jobless America

Yves here. It is frustrating to watch the refusal of the officialdom to deal with a persistent, high level of unemployment. Ronald Reagan was more concerned and more aggressive when unemployment breached 8%. By contrast, pundits provide excuses for the Administration’s passivity by blaming joblessness on structural unemployment, when various studies have debunked that (one simple proof: if unemployment were structural, you’d expect to see tight job markets in some sectors/job types and slack in others, but when you cut the data, you find high unemployment across the board).

This article helps to puncture some of the misperceptions about unemployment in America and provides some practical ideas.

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Steve Levitt: Like a True Chicago Boy, Likes People to Go to Jail so Markets Can Be Free

Yves here. Readers reacted positively to the inaugural report of the S.H.A.M.E Project on Malcolm Gladwell. S.H.A.M.E. , stands for “Shame the Hacks who Abuse Media Ethics.” Its approach is to provide information about the background and funding sources of well-recognized journalists and pundits so that the public will be in a better position to recognize bias and hidden agendas in their reporting and analysis.

This second report is on the widely-read economist Steve Levitt

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Yanis Varoufakis: Solidarity Euro-Style – Finnish Loans, ECB Bond Purchases, EFSF Tough Love and Assorted Horror Stories from the Postmodern Euro-Workhouse

The world seems convinced that Europe, perhaps under duress, put together a large Solidarity Fund (the EFSF) for the purposes of helping the fiscally-stricken Eurozone member-states avoid bankruptcy once they were frozen out of the money markets. The criticisms waged at this type of ‘solidarity’ centred on two issues: First, that the Fund’s size was not large enough (and thus unable to help Italy and Spain). Secondly, that this Fund resembles more a Victorian Workhouse whose real purpose was not to show solidarity to its residents but, rather, to make their life so unpleasant as to deter able-bodied workers from ever seeking its assistance.

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Fitch Threatens Downgrade Waves Wet Noodle at US

Here we go again….

As the Obama administration is quietly working towards a “Grade Bargain”, which is the current branding for “let’s put the middle class on the austerity rack just when the economy looks depression prone”, rating agency Fitch does its part by lobbing in a “the US needs to get its fiscal house in order” message.

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Malcolm Gladwell Unmasked: A Look Into the Life & Work of America’s Most Successful Propagandist

Yves here. Yasha Levine and Mark Ames have launched the S.H.A.M.E. Project, which stands for “Shame the Hacks who Abuse Media Ethics.” Its approach is to provide information about the background and funding sources of well-recognized journalists and pundits so that the public will be in a better position to recognize bias and hidden agendas in their reporting and analysis. You can find a S.H.A.M.E dossier on Gladwell here.

By Yasha Levine, President of S.H.A.M.E., an investigative journalist and a founding editor of The eXiled. His work has been published by Wired, The Nation, Slate, The New York Observer and many others. He has made several guest appearances on MSNBC’s Dylan Ratigan Show.

“I’m necessarily parasitic in a way. I have done well as a parasite. But I’m still a parasite.”
– Malcolm Gladwell

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Wisconsin Recap: Thanks to Obama, American Left Lies in Smoldering Wreckage

By Matt Stoller, a fellow at the Roosevelt Institute. You can follow him on Twitter at http://www.twitter.com/matthewstoller.

On Tuesday, Wisconsin Republican Governor Scott Walker humiliated his Democratic opponent, Tom Barrett, by easily turning back a popular recall attempt sponsored by unions and liberal activists.  The numbers in the election, which were supposed to be close, were ugly, in favor of the Republican.  But this wasn’t just any Republican, Scott Walker is THE Republican, the politician who made his governorship a referendum on a hard right agenda, in a blue state.

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Why is Paul Krugman Misrepresenting the Demise of a Wall Street Funded, Right Wing, Entitlement-Bashing Front Group?

Paul Krugman’s partisanship has become so shameless that we are giving him the inaugural Eric Schneiderman Decoy Award for his post “Things Fall Apart“. The Schneiderman Decoy Award goes for exceptional achievement in turning one’s good name over to particularly rancid Obama Administration initiatives.

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Barack Obama, the Great Deceiver

Barack Obama swept into office on a tide of giddy enthusiasm. His “Hope and Change” was a pledge to reverse Bush era policies, including socialism for the rich, adventurism in the Middle East, and attacks on civil liberties. He announced his intention to serve as a transformational leader, invoking Abraham Lincoln, FDR and Ronald Reagan as role models. Despite the frigid temperatures, people poured into Washington, DC to hear his inauguration speech, wanting to be part of a remarkable passage.

Those times of heady promise are now a cruel memory….

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What Can Americans Learn from the Eurocrisis

At the risk of looking like NC has become the “all Michael Hudson, all the time” channel, we’re featuring his latest talk with Real News Network. He discusses how and why candidates make promises to ordinary people that they promptly repudiate when they assume office.

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Dan Kervick: The Political Economy of Citadella

Yves here. Readers seem to like Kervick’s storytelling format, and he seemed to take NC readers’ suggestion to heart regarding making it a bit more compact next time.

By Dan Kervick, who does research in decision theory and analytic metaphysics. Cross posted from New Economic Perspectives

Imagine a world and a society in which 500 people own everything – absolutely everything.

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The Bankruptcy “Reforms” of 2005: Creation of a New Debtor’s Prison?

An article by law professor Linda Coco, “Debtor’s Prison in the Neoliberal State: ‘Debtfare’ and the Cultural Logics of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005,” (hat tip Michael Hudson) is a an informative, if disheartening, overview of the significance of the bankruptcy law reforms implemented in 2005.

One might cynically observe that after 25 years of making it easier for consumers to borrow and encouraging them to load up, banks realized that they might have too much of a good thing and realized they needed to improve their ability to extract payments from the credit junkies they had created.

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