SE News

You’ve Heard Of The Gender Pay Gap, But There’s More

It's Our Economy - August 11, 2018 - 12:00pm
The gender wage gap continues to harm women, their families, and the economy, despite women being in the workforce for decades. But not all women are marginalized by this disparity in the same way. In 1996, the National Committee on Pay Equity decided to bring awareness to the wage gap by creating National Equal Pay Day. The day signifies how long it takes for a woman to make the same amount of money a man makes for the year prior. Each year Equal Pay Day for All is held in April — meaning it will take an average woman about 16 months to make what a typical man makes in a year. But when we look at the wage gap for women of color, this day of “catching up” falls way later in the year — all the way into August.
Categories: Friends of GEO, SE News

Neoliberalism Drives Climate Breakdown, Not Human Nature

It's Our Economy - August 10, 2018 - 4:00pm
Attempts by the New York Times to blame humanity as a whole for climate change let the real culprits off the hook. Many zoos have an exhibit like this: a wall with a hatch, and under the hatch words like “Do you want to see the most dangerous animal in the world?”. Of course everyone does, and before they open the hatch they speculate as to what the animal behind the hatch will be. A lion? A crocodile? However, when you open the hatch there is a mirror, and you see yourself staring back. You are the most dangerous animal in the world. Of course this is nonsense. Not everyone who opens that hatch and sees themselves looking back is equally dangerous. We are not all equally responsible for destruction of the world’s ecosystems. Some humans who open the hatch probably are responsible for a great deal of destruction. Other are not. Many people bear the brunt of someone else’s destruction.
Categories: Friends of GEO, SE News

Imagining A World With Bo Bullshit Jobs

It's Our Economy - August 10, 2018 - 4:00pm
In this interview about his latest book, David Graeber discusses the role of unions, the challenges posed by automation and “the revolt of the caring classes.” Is your job pointless? Do you feel that your position could be eliminated and everything would continue on just fine? Maybe, you think, society would even be a little better off if your job never existed? If your answer to these questions is “yes,” then take solace. You are not alone. As much as half the work that the working population engages in every day could be considered pointless, says David Graeber, Professor of Anthropology at the London School of Economics and author of Bullshit Jobs: A Theory.
Categories: Friends of GEO, SE News

Stock Buybacks Will Hit $1 Trillion In 2018

It's Our Economy - August 10, 2018 - 4:00pm
US corporations will buy back their own stock at a record clip of $1 trillion this year, according to an analysis issued by Goldman Sachs on Monday. The Wall Street giant attributed the surge in share repurchases to booming corporate profits and Trump’s $1.5 trillion tax cut for corporations and the wealthy, which was passed by Congress and signed into law last December. In a note to investors, David Kostin, chief equity strategist at Goldman, gushed that investors were likely to see the impact of the buybacks in higher share prices and fatter stock portfolios very quickly. The scale of the buyback spree is massive. Second-quarter 2018 stock repurchases are up 57 percent from the same period a year earlier. In the tech sector, the year-over-year increase is 130 percent.
Categories: Friends of GEO, SE News

President Trump’s Tariffs Are Not Really The Point

It's Our Economy - August 8, 2018 - 7:01pm
Ronald Reagan told us that markets are good, government is bad, and we should let free markets solve all our problems. Winners will prosper, and gains will trickle down to workers and communities. At the global level, this meant free trade policy that blurs national boundaries, and merges or integrates our economy into the global economy. This approach shifts power in favor of global corporations, while reducing policy space for governments, workers, communities, and the environment. China has never accepted our free-trade free-market model. Zhang Xiangchen, China’s ambassador to the WTO, made this clear a few days ago. “China has been vigorously exploring a road of market economy, which suits China’s own national situation and circumstances, and we have made remarkable progress in this endeavor.
Categories: Friends of GEO, SE News

How BRICS Plus Clashes With The US Economic War On Iran

It's Our Economy - August 8, 2018 - 6:00pm
August 04, 2018 “Information Clearing House” –  The key take away from the BRICS summit in Johannesburg is that Brazil, Russia, India, China and South Africa – important Global South players – strongly condemn unilateralism and protectionism. The Johannesburg Declaration is unmistakable: “We recognize that the multilateral trading system is facing unprecedented challenges. We underscore the importance of an open world economy.” Closer examination of Chinese President Xi Jinping’s speech unlocks some poignant details. Xi, crucially, emphasizes delving further into “our strategic partnership.” That implies increased BRICS and Beyond BRICS multilateral trade, investment and economic and financial connectivity.
Categories: Friends of GEO, SE News
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