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People Before Profits • Stop Foreclosures • Break Up Big Finance • End the Wars
Updated: 38 min 33 sec ago

Money Matters! Why Monetary Theory And Policy Is A Critical Terrain For The Left

July 19, 2018 - 2:00pm
As our demands grow bolder—true full employment, the rebuilding of the social safety net starting with Medicare for All, an overdue green and just transition—so will the naysayers’ inevitable refrain: “How will you pay for it?” This Left Forum panel on June 5, 2018 moderated by Gar Alperovitz brought together a combination of innovative thinkers and practitioners who together present a different understanding of monetary policy and the money system. They show a way out of the austerity trap and reveal that the obstacles to bold action at a national scale on jobs, healthcare, and climate are political, not economic. This is a partial, edited transcript.
Categories: Friends of GEO, SE News

The Crummy Good Economy And The New Serfdom

July 19, 2018 - 2:00pm
For about a year now, the unemployment rate has been around 4%. That’s supposed mean full employment, labor shortages, and rising pay. But the latest earnings report is the same old story: no gains in real hourly wages from June of 2017 through June of 2018. Most employers have been able to find new workers without having to raise pay offers. What’s going on?  There are screwball right-wing diversions and explanations. A Trump economist, D. J. Norquist, opines that it will take time for the Republican tax-cuts to work their way through the economy. As an explanation, this is nonsense. Just because the lords of creation get more money doesn’t mean more will filter down to workers. We have the evidence of forty years on that issue. Then we have Stephen Moore at the Heritage Foundation.
Categories: Friends of GEO, SE News

A Transformational Plan For Economic Democracy To Serve The People

July 19, 2018 - 2:00pm
As Shadow Chancellor John McDonnell likes to say, ‘Another world is not just possible, it is within reach’. Largely unnoticed by its enemies within and without, the Corbyn Project is cohering around a programme for transformative change that could form the basis for a new political-economic settlement. Building on popular elements of Labour’s 2017 manifesto, For the Many Not the Few, and encompassing cutting edge thinking from the Alternative Models of Ownership report and beyond, the leadership is assembling the tools and strategies to enable a Labour government to pursue a bold transformation of the British economy organised around ownership, control, democracy, and participation.1
Categories: Friends of GEO, SE News

Soon You Cant’t Use Food Stamps At Farmers Markets — But That’s Not Half Of It

July 19, 2018 - 1:00pm
This week, I thought I would write about food stamps and farmers markets. People on food stamps, officially known as the Supplemental Nutrition Assistance Program (SNAP), receive their benefits on a card that can be read like a credit card. Crucial to allowing recipients to use food stamps at farmers markets are card readers. The U.S. Department of Agriculture just canceled its contract with the company that makes the card readers. As a result, food stamp recipients will likely lose the ability to use food stamps at farmers markets. I was all set to write about this terrible mix-up. But then I realized it’s not the part I really care about. Of course, food stamp recipients should be able to shop at farmers markets. But it’s a tiny part of a much bigger issue. The diets of food stamp recipients lie at the intersection of two issues: our food system and economic inequality.
Categories: Friends of GEO, SE News

A Sweet New Century For America’s Most Privileged

July 17, 2018 - 11:00am
The United States ended the 20th century on a roll — for the rich. Between 1973 and 2000, the nation’s most prosperous 1 percent tripled their incomes, after taking inflation into account. The even more prosperous top tenth of that 1 percent did quite a bit better. Their incomes more than quintupled between 1973 and 2000, rising an amazing 414.6 percent. And what about Americans of less exalted means, those stuck in the nation’s bottom 90 percent? Between 1973 and 2000, their incomes rose all of . . . 2.6 percent. Something, in other words, went horribly wrong over the last quarter of the 20th century. And what has happened so far in century 21? Our decision makers in Washington have done their best to make things even worse.
Categories: Friends of GEO, SE News

California Leads The Way In Resistance To The Rule Of Bankers

July 14, 2018 - 2:00pm
When former British Prime Minister Margaret Thatcher set her nation on the path of wholesale privatization and austerity in the 1980s, she declared that “resistance is futile.” “There is no alternative,” she decreed, to the rule of “markets,” not just in Great Britain, but for all of humanity and for all time. Thatcher found a soul mate in President Ronald Reagan, whose assault on the public sector in the U.S. — packaged for a racist American electorate as a campaign to purge “welfare queens,” and accompanied by a fierce anti-drugs and crime crusade — was soon joined by the most shamelessly corporatist wing of the Democratic Party. President Bill Clinton completed Reagan’s welfare and crime agenda and, as a final gift to Wall Street, deregulated the banks.
Categories: Friends of GEO, SE News