Randy Wray: When Will They Ever Learn – Uncle Sam is not Robin Hood
Why Obama’s budget is yet another economic policy failure.
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Money and Elections in Washington: Pro Wrestling, but With More Respectable Clothes
kayfabe: Term in pro wrestling. Kayfabe was the unsaid rule that the wrestlers should stay in character during the show and in public appearances in order to maintain a feeling of reality (albeit suspended) among the fans.
Read more...The Economics of the 1%: Neoliberal Lies About Government
Yves here. This is a short, straightforward Real News Network interview with John Weeks, Professor Emeritus of the University of London, which dissects the logic, such as it is, by which neoliberals argue against taxes and for smaller government.
Read more...Can Democracy Help With Inequality?
Inequality is currently a prominent topic of debate in Western democracies. In democratic countries, we might expect rising inequality to be partially offset by an increase in political support for redistribution. A new paper argues that the relationship between democracy, redistribution, and inequality is more complicated than that.
Read more...Wall Street Journal Exposes Entirely New Private Equity Tax Scam
Yet another private equity tax swindle has come to light.
Read more...Another Obama Corporate Gimmie: Broadens Corporate R&D Tax Credits
Obama is looking more and more like an ideal Republican president with every passing day.
Read more...The Myth of Maximizing Shareholder Value
So many of the assertions made about “maximizing shareholder value” are false that they should be assumed to be a lie until proven otherwise.
Read more...Can Chile Reform the Neoliberal Model?
Chile is often a social laboratory that gives an advance view of what is coming……
Read more...Obama Lame Duck Watch: House Democrats Stymieing Trade Deal “Fast Track;” Silicon Valley Surveillance Payoff Language Published
As we discussed earlier, even though there’s abundant evidence that the Administration’s plans to push through its trade deals, the Trans Pacific Partnership and the Transstlantic Trade and Investment Partnership, are in trouble, the official messaging has been to keep pretending that the pacts are still moving forward smartly.
Read more...Diagrams and Dollars: Modern Money Illustrated (Part 1)
Yves here. I continue to get requests to explain Modern Monetary Theory. It isn’t easily done in a few words, but fortunately, the academics and writers associated with the New Economics Perspectives blog keep publishing primers of various sorts. This one takes a different approach in using visuals to help illustrate the difference between how most people believe the money system operates versus how it really works.
Read more...Slate Tries Presenting Amazon’s Abusive Warehouse Jobs as Great Opportunities
A mere day after strikes at Amazon warehouses in Germany, which caught the attention of the media in the US, Slate ran as its lead piece in Moneybox an article that bears all the hallmarks of being a PR plant: Amazon Warehouses Are the New Factories.
I suspect the author, Emma Roller, wouldn’t recognize a factory if it fell on her.
Read more...How the Budget Deal Perpetuates Austerity Policies
Yves here. This Real News Network segment provides an overview of the budget deal, cutting through the hype to lay bare its impact on ordinary Americans. It’s not a pretty picture.
Read more...New Study Confirms that Lower Corporate Tax Rates Don’t Create Jobs
orporate executives love to peddle the notion that they need to have their low tax payments reduced even further, even as the share of GDP represented by company profits is at unprecedentedly high levels.
Read more...The Skunk Party Manifesto
The best political system that money can buy is doing a great job for its customers and a lousy job for the rest of us.
Read more...Obama Wants to Cut Social Security
Yves here. The headline is hardly news, at least if you’ve been paying attention, but this post does a great job of debunking arguments against Social Security, particularly ones designed to stoke generational warfare.
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