The Burgeoning Student Debt Problem
Even though other consumer debt-bombs have done more damage, student debt is producing significant social and economic distortions.
Read more...Category Archives: Social values
Sequoia Fund Manager Campaigns Against Goldman Board Member, Former Fannie CEO Jim Johnson
A telling taboo in elite circles is the issue of corruption.
Read more...From Financial Crisis to Stagnation: An Interview with Thomas Palley
Thomas Palley is has served as the chief economist for the US – China Economic and Security Review Commission. He is currently Schwartz Economic Growth Fellow at the New America Foundation. His latest book From Financial Crisis to Stagnation is available at a 20% discount here [Select country location (top right hand corner) & enter code “palley2012” at checkout]
Interview conducted by Philip Pilkington
Philip Pilkington: At the beginning of your book From Financial Crisis to Stagnation you refer to the 2008 crisis as a ‘crisis of bad ideas’. Could you please briefly explain why you refer to the crisis in this way?
Read more...Philip Pilkington: Econ for Pirates – Rescuing Art from the Clutches of the Megacorporations
By Philip Pilkington, a writer and journalist based in Dublin, Ireland. You can follow him on Twitter at @pilkingtonphil
I seen a lot of rappers turn soft, I turn my TV off (uh)
And thugs got commercials (yea) thugs in commercials (uh)
And everybody’s chick turned gladiator and shit
No pimps, no hustlers, yo where’s your whips
No Maybachs, no Lambos on the field
Towncar, ridin Music Express
You the best example, yo the industry is whack yo
Now you can bet your label and your Phantom on that
– Kool Keith ‘Bamboozled’
Daily, megacorporations shovel crap into our eyes and ears. There is no worse indictment for the so-called ‘free market’ – which is really just a few giant bureaucratic institutions – than the suppression of creativity in favour of the commoditised effluent of the corporate culture industry.
Read more...Yasha Levine: Recovered Economic History – “Everyone But an Idiot Knows That The Lower Classes Must Be Kept Poor, or They Will Never Be Industrious”
Yves here. This post by Yasha Levine ran last week, but it is sufficiently important that I thought it was worth featuring on NC. The conventional thinking on the so-called “lower orders” usually depicts them as deserving their fate (either due to lack of self-discipline and motivation, or in other ages, as genetically inferior), or as victims of circumstance. But Levine, citing a recent book by economic historian Michael Perelmen, points to another strain of thought: that self-sufficient peasants were indolent, and it would be better for them to reduce their income so as to force them to work harder. God forbid that anyone other that the aristocrats have the luxury of a lot of leisure time!
By Yasha Levine, an editor of The eXiled. You can reach him at levine [at] exiledonline.com.. Cross posted from The eXiled
…everyone but an idiot knows that the lower classes must be kept poor, or they will never be industrious.
—Arthur Young; 1771
By Yasha Levine, an editor of The eXiled. You can reach him at levine [at] exiledonline.com.. Cross posted from The eXiled
…everyone but an idiot knows that the lower classes must be kept poor, or they will never be industrious.
—Arthur Young; 1771
Read more...Three Corporate Myths that Threaten the Wealth of the Nation
Corporations are not working for the 99%. But this wasn’t always the case. In a special 5-part AlterNet series, William Lazonick, professor at UMass, president of the Academic-Industry Research Network, and one of the leading expert on the American corporation, along with journalist Ken Jacobson and AlterNet’s Lynn Parramore, will examine the foundations, history, and purpose of the corporation to answer this vital question: How can the public take control of the business corporation and make it work for the real economy?
Read more...Ken Jacobson: Whose Corporations? Our Corporations!
Corporations are not working for the 99 percent. But this wasn’t always the case. In a special five-part series, William Lazonick, professor at UMass, president of the Academic-Industry Research Network, and a leading expert on the business corporation, along with journalist Ken Jacobson and AlterNet’s Lynn Parramore, will examine the foundations, history and purpose of the corporation to answer this vital question: How can the public take control of the business corporation and make it work for the real economy?
Read more...William Lazonick: How High CEO Pay Hurts the 99 Percent
Corporations are not working for the 99 percent. But this wasn’t always the case. In a special five-part series, William Lazonick, professor at UMass, president of the Academic-Industry Research Network, and a leading expert on the business corporation, along with journalist Ken Jacobson and AlterNet’s Lynn Parramore, will examine the foundations, history and purpose of the corporation to answer this vital question: How can the public take control of the business corporation and make it work for the real economy?
Read more...Michael Hudson on Why There is an Alternative to European Austerity
Bonnie Faulkner of Pacifica Radio’s Guns and Butter show broadcast the presentation by Stephanie Kelton and Michael Hudson on “There IS An Alternative To European Austerity: Modern Money Theory” . presented at the Italian MMT Summit last month. You can listen to the recording here, or read key parts of the transcript below.
Read more...How American Corporations Transformed from Producers to Predators
Corporations are not working for the 99 percent. But this wasn’t always the case. In a special five-part series, William Lazonick, professor at UMass, president of the Academic-Industry Research Network, and a leading expert on the business corporation, along with journalist Ken Jacobson and AlterNet’s Lynn Parramore, will examine the foundations, history and purpose of the corporation to answer this vital question: How can the public take control of the business corporation and make it work for the real economy?
Read more...The Case Against Passion
“Passion” became fashionable in business at around the time other forms of emotional overshoot were hot, like “delighting customers.” While there may have been earlier efforts by Tom Peters and other corporate quacks gurus to infuse staid, supposedly rational business behavior with more pizzaz, the passion fashion seemed to take hold in the dot-com era. And that in a perverse way makes perfect sense.
Atheists Rally on National Mall
It’s too bad that religious fundamentalism has grown so strong in the US that atheists feel the need to rally. To put none too fine a point on it, atheists are not well liked in America. The assumption seems to be that they are immoral and will corrupt the nation’s youth. From the Washington Post:
Read more...Wolf Richter: Taking Bosses Hostage – A Labor Negotiating Tactic In France
At 2 p.m on Thursday, the final day of the annually required wage negotiations that were going nowhere, Bruno Ferrec, the man in charge of the nine Fnac stores in Paris, and his HR Director were “retained” by 120 of his employees at a conference room at the Hotel Ibis in Paris. “For now, we do not know when we will let him go,” said the representative of the CGT, one of the unions involved in the negotiations. And the police did nothing.
Read more...Dying for Satisfaction: Being Happy with Your Doctor is Bad for Your Health
There is an important study in the Archives for Internal Medicine last month, which escalates an ongoing row as to whether patient satisfaction is in any way correlated with positive medical outcomes. The answer is yes, and the correlation is negative.
This finding is of critical importance, not just in understanding why American medicine is a hopeless, costly mess, but also as a window into how easy it is for buyers of complex services to be hoodwinked by their servicer provider, whether via the provider being incorrectly confident about his ability to do a good job or having nefarious intent.
Read more...World Bank Nominee Kim Under Fire for “Dying for Growth” Book
The US nominee to lead the World Bank, Jim Yong Kim, has come under attack for editing a book called “Dying for Growth.” It apparently performs the cardinal sins of questioning whether a relentless pursuit of growth produces necessarily produces good outcomes and taking issue with neoliberalism. From the Financial Times:
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