The inept and corrupt presidency of Donald Trump has unwittingly triggered the fatal blow to the American empire — the abandonment of the dollar as the world’s principal reserve currency. Nations around the globe, especially in Europe, have lost confidence in the United States to act rationally, much less lead,...
The overvaluation of tech stocks and the dangers of a sector-wide collapse—even a modest correction—is only a small piece of the over-financialization of the entire global economic system.
Former Labor Secretary Robert Reich described the Trump budget proposal as being "cruel and deviant". Political economist Jack Rasmus explains why.
Crises? The media is already talking about constitutional ones, but believe me, you ain’t seen nothin’ yet. Conflicts of interest? So far, grim as the news may look, there’s hardly been a hint of what’s sure to come. And crimes against the country? They’ve hardly begun.
If we want a safe and modern rail system that will save lives and be the envy of the world, we need to reject Reaganism once and for all, and we need a massive government investment to bring US infrastructure into the 21st century.
But the fight over the TPP reaches beyond the confines of American electoral politics; it is, more broadly, a conflict between the forces of global capital — in partnership with political leaders — and the working class.
Will the American public passively permit another massive bailout of the banks? Will it accept more punishing programs of austerity to pay for this bailout? Will a viable socialism rise out of the economic chaos to halt further looting of the U.S. Treasury and the continued reconfiguration of the economy...
Listen to the political candidates as they put forward their economic solutions. You will hear a well-established and rarely challenged narrative. “We must grow the economy to produce jobs so people will have the money to grow their consumption, which will grow more jobs…” Grow. Grow. Grow.
We are witnessing the slow agony of the dream of European integration, disintegrating without a single demonstration occuring anywhere, among its 500 millions of citizens.
MIT Economist Paul Samuelson liked to focus on scarcity, or more specifically, the allocation of scarce resources. “Abundance” was always a pretty word with an idyllic connotation for Professor Samuelson. I often wonder why there weren’t a few classes about the real-life consequences of abundance, along with scarcity and people’s...