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THE WHITE TERRORISTS — Yvette Carnell writes a scathing history of Lynching in America; Ajamu Baraka on Netanyahu the Rejectionist; Patrick Smith on Reinventing the Foreign Correspondent; Peter Lee on the escalating cyberwar between the US and China; Jeffrey St. Clair on the Real Israeli Defense Force: the US Congress. Plus: Mike Whitney: Getting Cured in Vietnam; JoAnn Wypijewski on Gramsci, Chick Webb and the Art of Living Well; Chris Floyd: Learning About the Rapture from Michele Bachmann and Lee Ballinger: Driving Nat King Cole.
Archives by Tag 'economics'
Breaking Down Inequality
MOSHE ADLER
 “Divided, The Perils of Our Growing Inequality,”  edited by David Cay Joh...
The Brutal Legacy of the Muscular Christian Movement
MICHAEL PERELMAN and VINCENT PORTILLO
In the late nineteenth century, a fear about the softness of American society raised doubts about the capacity of the United States to carry out its imperial destiny.  This problem was associated with the final settlement of the frontier.  As important as the developmen...
Obama’s Plan for Economic Immiseration
ROB URIE
President Barack Obama spoke at length on the economy on Wednesday in the first of what is reported to be a series of speeches he will give around the country to push his economic ‘agenda.’ A question for his supporters is why Mr. Obama is now purporting to promote th...
Obama’s Master Class in Economic Demagogy 101
MICHAEL HUDSON
Yesterday President Obama chose Knox College in Galesburg, Illinois (originally founded by anti-slavery activists in the 1830s) to float the economic program he has been working out with Wall Street investment bankers. His aim is to wrap this program in a democratic rheto...
Cuba’s Economic Performance in 2012
JOSÉ LUIS RODRIGUEZ
Havana. Recently, the National Office of Statistics and Information (ONEI) published a digital version of the Economic and Social Outlook for 2012,  a document it publishes regularly as a preview of the Statistical Yearbook of Cuba (AEC).  [1] The...
Why Stiglitz is Wrong About Abenomics
MIKE WHITNEY
Liberal economists in the US are absolutely ga-ga about Abenomics, and for good reason. Under Japanese Prime Minister Shinzo Abe’s leadership the Bank of Japan (BoJ) has flooded financial markets with money pushing stocks up nearly 80 percent in a matter of months,...
The Corporate State and Manufactured Dependence
ROB URIE
An argument often heard in the 1980s and ‘90s by those favoring lower taxes on the rich was the rich could avoid paying taxes because they had the resources to do so, so why not be pragmatic and set tax rates low enough the rich would actually pay them? The people makin...
Mortgages in the Era of Mass Terror
LAURA GOTTESDIENER
Terrorism is a tricky act to define, particularly when household appliances have become weapons of mass destruction. Earlier in April, as the National Guard and Boston Police scoured the city’s suburbs in search of two men believed to have planted the fatal marathon bom...
The Economics of Over-Ripe Capitalism
ALAN NASSER
“We have now grown used to the idea that most ordinary or natural growth processes (the growth of organisms, or populations of organisms or, for example, of cities) is not merely limited, but self-limited, i.e. is slowed down or eventually brought to a stand...
Ready for Rationing?
ROBERT JENSEN
It’s not clear whether Stan Cox is a plant breeder with a penchant for politics, or a political provocateur who finds time to do science. Whichever aspect of his personality is dominant, Cox artfully draws on both skill sets to make the case for rationing, perhaps the m...
A Short History of Primitive Accumulation
MICHAEL PERELMAN
The choice of Adam Smith as an introduction to a discussion of primitive accumulation might seem curious even though he inadvertently began the discussion of the concept.  Like a modern astrophysicist trying to understand the Big Bang, he asserted that “the accumul...
The Economy and a Pair of Shoes
TOBIAS ROBERTS
The other morning, after dreaming to the tune of the constant patter of rain on the tin roof of my house, I woke early to enjoy a morning stroll through the mountains of northern Guatemala.  After an hour or so of watching the mystical dance of clouds caressing the valle...
An Interview with Michael Klare
KEN KLIPPENSTEIN
Michael T. Klare is the author of the book, The Race for What’s Left (2012), in which he...
Comparing the US and Venezuela
ERIC DRAITSER
What does it mean to be “Third World” in 2013? If we are to t...
Deficit, Debt and Decline
MICHAEL BRENNER
Washington’s foreign policy establishment is wringing its hands over the deficit. They voice fears that America’s dominant position in the world will be jeopardized by tight budgets and lingering austerity that lowers its influence on all manner of global economic mat...
Reality Economics
MICHAEL HUDSON
“Whom the gods would destroy, they first make mad.” And if they would destroy economies, they first create a wealthy class on top, and let human nature do the rest. The acquisition of power soon leads to its abuse, to economic and social hubris. By seeking to protect ...
Peña’s Promises
LAURA CARLSEN
Mexico City. Against the sharply contrasting backdrop of violent conflicts in the streets and carefully staged official events, Enrique Peña Nieto took office yesterday. The general outlines of the plan for his six-year term, although still not detailed, ...
Whose Side is Warren Buffett on Anyway?
D. SIDNEY POTTER
It’s not often that I can’t figure out, or even admit that I can’t figure out a person.  And fortunately, that hasn’t happened in this particular instance when it comes to deciphering Warren Buffett’s true stripes.  The problem is, like a Discovery cable show ...
Back to the Future
VIVUDS BALDAVS and JEFFREY SOMMERS
We have arrived at a historical moment of economic crisis where no exit appears visible. The limits of financialization and the “service” economy have been reached.  The way forward is through a return to developing the real economy. However, we are also at the limit...
By Their Fruits Ye Shall Know Them
MICHAEL HUDSON
The Democrats could not have won so handily without the Citizens United ruling. That is what enabled the Koch Brothers to spend their billions to support right-wing candidates that barked and growled like sheep dogs to give voters little civilized option but to vote for ...
The Economy is not Society
GYANENDRA PANDEY
Powerful hurricanes and disasters can actually increase economic activity, we are told. The point could be made in relation to Katrina and Andrew – and now it may be repeated with Sandy. One economist notes that this is “a problematic aspect of how we account for econ...
Why Revive the System?
ROB URIE
One of the more telling stories of Western economics takes me back to my days as a wee lad studying at university. Ben Bernanke (Chairman, Federal Reserve) and Andrew Abel had co-written the imaginatively titled ‘...
The Wrecking Society
DEAN BAKER
There is an old story from the heyday of the Soviet Union. As part of their May Day celebrations they were parading their latest weapon systems down the street in front of the Kremlin. There was a long column of their newest tanks, followed by a row of tractors pulling mi...
Trickle Up and Trickle Down
PAUL CANTOR
Trickle down economics refers to the view that the profits of the rich ultimately trickle down to the poor.  Specifically, for example, tax cuts that benefit the rich motivate them to invest and the growth that results from that investment benefits everyone....
The Broken Record of Supply-Side
ROBERT HUNZIKER
Like an aged phonograph playing a scratched record, the same old Supply-side Tune keeps playing over and over again in the political arena. The centerpiece of the 2012 presidential election is the economy and how to best manage it by reducing budget defici...
The Free Market: Means or End?
JASON BERNARD CLAXTON
Free market advocates sometimes champion the free market as a means to an end, sometimes as an end in itself.  Sometimes the free market is better at achieving certain goals than any alternative, sometimes there is no alternative.  Sometimes the free market is the...
The Contradictions of Real Socialism
LOUIS PROYECT
Several months ago the Crooked Timber blog held a seminar on Francis Spufford’s “Red Plenty”,...
Mitt’s Bad Week
ROB URIE
It was Spring of 2010, less than a year after the official end of the last recession but still deep in the throes of the Great Recession, that Barack Obama’s ‘deficit commission’ met for the first time. With close to twenty-five million people unemployed ...
Obama vs. Economic Reality
SHAMUS COOKE
It took less than 24 hours for Obama’s “inspiring” convention speech to be smothered by the reality of the job crisis. The August national jobs report showed that the U.S. economy failed to create enough new jobs to keep up with population growth. More i...
The Economic Mess
ELLIOT SPERBER
Bill Clinton raised a good deal of applause the other night in his speech at the Democratic National Convention, pointing out that the Republicans made a huge mess out of the economy. And while what Clinton said was to some degree the case, it was only the case insofar as...
The Spreading Financial Rot
SERGE HALIMI
The US financial rot spread, causing a global economic crisis with catastrophic results: no jobs, millions of property owners bankrupt, waning social security. That was five years ago. Now it is quite possible that the next incumbent of the White House may be Willard Mitt...
Capitalism’s Vanishing Appeal
JAMES ROTHENBERG
It should be clear by now that our economic system is at a critical impasse, and therefore becoming less and less useful. America is not as prosperous as it once was, although some Americans enjoy the wealth of sovereigns. Americans work harder and longer than they used t...
The Finance Bomb
ROB URIE
A sort of joke making the rounds a few years back had (billionaire) Bill Gates walking into a working class bar. The joke was that the moment he did everyone in the bar on average became a billionaire. Understand—he didn’t give away any money or, other than possibly o...
What Ryan and Obama Share
PAUL A. PASSAVANT
When Mitt Romney picked Paul Ryan as his vice-presidential running mate, progressive groups immediately began to message their networks.  They said Romney had committed “political suicide,” and openly asked, “Did Romney just give away the election,” to quote some...
Greetings From the New Economy
ABBY SCHER
“Are you ready for a new economy? Are you ready for a new politics?” The challenge at the podium came from Gus Speth, the courtly co-founder of the Natural Resources Defense Council, now a professor at Vermont Law School, who is on the board of the newly created New E...
Escape From Economics
PAUL CRAIG ROBERTS
Readers ask me from time to time to recommend a book from which they can learn about economics. The problem with reading a book to learn economics that is taught in the universities and practiced in Washington is that economics is now a highly formalized subject ba...
Wall Street be Damned
SANDY LEON VEST
Bill Moyers observed recently that poor people haven’t “lost their voice.” Rather, he said, “They can’t afford a voice.” That “voice,” as more and more Americans are beginning to understand, is further muffled by Washington political elites, aided a...
The Trouble With Bubbles
DEAN BAKER
The United States has more than 20 million people unemployed, underemployed or out of the workforce altogether because of a burst housing bubble. We also have more than 10 million homeowners who are underwater in their mortgages. And, we have tens of millions of people ap...
The Virtues of Big Government
ROBERT HUNZIKER
For decades now, actually since President Reagan’s administration, Republicans, with encouragement from Neocons, Supply-siders, Neoliberals, Tea Partiers, or, in short, the Right Wing in toto, have argued big government is evil, a bureaucratic money-trap that is ineffic...
What the Market Does to Our Souls
ALAN NASSER
We live in new times. For about thirty years American capitalism featured a small but not insignificant concession to social democracy, what we are taught to call “the welfare state”, in which government contributed to the provision of a degree of material security wh...
Occupy is Alive; So is History
ROB URIE
Political leadership in the West has calcified atop a set of existing facts and trajectory that assure rebellion in one form or another until they are reconciled. In addition to the economic divides between wealth and poverty, employment and unemployment, opportunity and ...
Why Obama Must be Defeated
RUSSELL MOKHIBER
Not Ralph Nader. Not Amy Goodman. Not Noam Chomsky. Not Chris Hedges. Not Cornel West. Not Alexander Cockburn. Not one of the great left critics in the United States have dared say what Harvard Law School Professor Roberto Unger said last week. “President Obama must be ...
Supply-Side Mayhem
ROBERT HUNZIKER
Supply-side economics is front-and-center this political year. Every presidential candidate who participated in the Republican primary debates preached the gospel of Supply-side economics, prompting this article, inquiring about its efficacy. Supply-side economics ...
I’m So Bored by the Keynesians
JONATHAN M. FELDMAN
I’ve been listening to various Keynesian arguments lately and I find them boring.  In the United States, United Kingdom and Sweden, the Keynesians are critiquing the utter stupidity of the austerity agenda which is half a loaf in the battle for sanity.  Yet, the probl...
The Poverty of Nations
ROBERT HUNZIKER
There is plenty of wealth to go around in the world, but it’s tied up in too few hands for democratic capitalism to operate efficiently for society at large. Thus, in order to maintain civil order, totalitarianism increasingly becomes a byproduct of this conundrum. ...
50 Percent of the 99 Percent
LAURA CARLSEN
What’s 50 percent of 99 percent? This isn’t a math quiz. To put the question in non-numerical terms: where are women in the global economic crisis? The movement of the 99 percent that began in the United States made visible the human beings who suffer th...
Paul Krugman’s Economic Blinders
MICHAEL HUDSON
Paul Krugman is widely appreciated for his New York Times columns criticizing Republican demands for fiscal austerity. He rightly argues that cutting back public spending will worsen the economic depression into which we are sinking. And despite his partisan Demo...
What Gay Marriage Can Teach Us About Economic Recovery
SAM SMITH
The excitement over Obama’s acceptance of gay marriage, albeit on a state by state basis, illustrates two often overlooked political points: •   The lesser of two evils occasionally does something right, which, in fact, is what defines his lesserdo...
The Power of Plutocracy
ROB URIE
Last Tuesday, Mayday, 2012, tens of thousands from Occupy Wall Street and a coalition of unions and immigrant rights groups marched in New York, Oakland, San Francisco, Los Angeles, Chicago and other major cities to protest economic inequality and to celebrate other possi...
What Should People Fight For?
ROBERT JENSEN
After an engaging half-hour interview with India’s pre-eminent Marxist economist during a conference at New York University, I told a friend about my one-on-one time with Prabhat Patnaik. “There are Marxists in India?” came the bemused response. “I thought ...