Nobel Prize? Meet the Economic Movement That Really Deserves Praise

Laura Flanders YES! Magazine http://www.yesmagazine.org/commonomics/new-economy-week This week, the Nobel Prize for economics may have gone to three academics, but the real work of fixing our local economies was happening on the ground—as part of New Economy Week. The winners of the so-called Nobel Prize for economics were announced this week, and...

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The Economic Consequences of a US Debt Default

Jack Rasmus Jack Rasmus’ Blog The Economic Consequences of a US Debt Default The economic ignorance of the Teapublican faction of the Republican party in the US House and Senate is perhaps exceeded only by the similar ignorance of its economic advisers. Appearing in the public press in recent days is...

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Five Years in Economic Limbo

Joseph Stiglitz Project Syndicate http://www.project-syndicate.org/commentary/the-sluggish-pace-of-post-crisis-financial-reform-by-joseph-e–stiglitz When the US investment bank Lehman Brothers collapsed in 2008, triggering the worst global financial crisis since the Great Depression, a broad consensus about what caused the crisis seemed to emerge. A bloated and dysfunctional financial system had misallocated capital and, rather than managing risk,...

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Recovery Hype: American Capitalism’s Weapon of Mass Distraction

Richard Wolff The Guardian http://www.theguardian.com/commentisfree/2013/sep/27/recovery-hype-capitalism-weapon From President Obama on down, defenders of the status quo insist that the US economyhas “recovered” or “is recovering“. Some actually see the world that way. They inhabit, imagine they inhabit, or plan to soon inhabit the world of the infamous top 1%. Others simply seek...

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American Bile

Robert Reich Robert Reich’s Blog http://robertreich.org/post/61957362162 Not long ago I was walking toward an airport departure gate when a man approached me. “Are you Robert Reich?” he asked. “Yes,” I said. “You’re a Commie dirtbag.” (He actually used a variant of that noun, one that can’t be printed here.) “I’m...

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Obama’s Friends in Low Places

Robert Scheer TruthDig.com http://www.truthdig.com/report/item/obamas_friends_in_low_places_20130924 That Barack Obama is such a kidder. No matter how awkward the moment, he’s got just the right quip to purchase some wiggle room. Remember when his old Chicago banking buddy Jamie Dimon, the CEO of JPMorgan Chase, first ran into that bit of trouble over...

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