Bill Black: The Terrible Cost to Democrats and Our Nation of Ignoring Tom Frank’s Warnings
A high level description of how Democrats and Labor sold out the working class, and how that served a narrow interests at great cost.
Read more...Category Archives: The destruction of the middle class
How Brexit Threatens to Turn the UK Into “Borisland”
How the Tories and UKIP intend to use Brexit to impose permanent austerity and reduce workers’ rights.
Read more...Satyajit Das: What If Anything Does Brexit Really Signify?
An appraisal of the Brexit sound and fury.
Read more...Boris “Just Kidding” Johnson Outlines His Rainbows and Unicorns Brexit Plan
Boris Johnson is now the most hated person in the Western world.
Read more...MIchael Hudson: The Slow Crash
Michael Hudson discusses some of his favorite themes; debt deflation, the high cost of consumer debt, negative interest rates.
Read more...Brexit: The Crisis Begins
The Brexit vote was a stunning repudiation of neoliberalism and austerity. But what comes next?
Read more...IMF Warns That Inequality, Poverty, Low Productivity Growth, Falling Workforce Participation Will Drag on US Growth
The IMF has become an unlikely reporter of unpleasant realities about the US economy, particularly the costs of inequality and distress. If only its prescriptions were better….
Read more...How Financial Crises Produce Political Polarization
Financial crises move the struggles between debtors and creditors into the political sphere.
Read more...Men Exiting Workforce as Low-Wage Jobs Vanish
Contrary to its intent, a report explaining why labor force participation among prime-age men has fallen reveals how Obama has failed.
Read more...Unequal Gains: American Growth and Inequality Since 1700
American history suggests that inequality is not driven by some fundamental law of capitalist development, but rather by episodic shifts in five basic forces: demography, education policy, trade competition, financial regulation policy, and labour-saving technological change.
Read more...Wolf Richter: These Debt Slaves are the Government’s Largest Asset Class, and It Will Haunt the Economy for Years
Student debt isn’t just a millstone around young people’s necks; it’s weighing down the economy.
Read more...Elizabeth Warren Slams SEC’s Mary Jo White for Putting “Information Overload” Project Ahead of Dodd Frank Rulemaking
Elizabeth Warren and Mary Jo White cross swords again…but how effective can Warren be after she hitches her star to Clinton?
Read more...And Now, Price Deflation in India and China?
Price deflation, and classic debt deflation dynamics, are staring to appear in India and China.
Read more...Artificial Intelligence and Employment
The substitution of human labour by artificial intelligence and robots is a keenly debated topic. Some claim that a substantial share of jobs is at risk, while others argue that computers and robots will lead to product innovations and hence to unimaginable new occupations. This column uses a survey of Japanese firms to examine the impact of AI-related technologies on business and employment. Overall, firms expect a positive impact on business but a negative impact on employment. Firms with a highly skilled workforce, however, have a more optimistic view than firms with lower skilled employees.
Read more...Michael Hudson: Millions Around the World Fleeing from Neoliberal Policy
Hudson tallies the high cost of neoliberal ideology.
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