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World’s richest man tries to defend wealth inequality

World’s richest man tries to defend wealth inequality
Gates gives us a textbook example of the problems. While he is undoubtedly smart and hardworking, the key to his incredible wealth was the decision by the Justice Department largely to ignore antitrust law. Gates used classic anti-competitive practices to gain and protect a near monopoly in the market for personal computer operating systems. When the Justice Department finally brought suit in 1998, Bill Gates and the Microsoft team were so ... Read more

Key Inequality Measure The Highest Since The Great Depression

Key Inequality Measure The Highest Since The Great Depression
The ratio of wealth to household income in the U.S., a measure of inequality, is the highest it has been since just before the Great Depression, Credit Suisse noted in a 64-page report on global wealth released on Monday. The bank also warned that this was not good news for the health of the economy: “This is a worrying signal given that abnormally high wealth income ratios have always signaled recession in the past,” the bank ... Read more

Declaration Of Principles & Action For New World

Declaration Of Principles & Action For New World
From the Moving Beyond Capitalism Conference in San Miguel de Allende, Mexico held in August, 2014 Staff note: The statement below was written using a collaborative process beginning at the Moving Beyond Capitalism Conference this summer in San Miguel de Allende, Mexico. It addresses two crises: neoliberal trade and climate change. To get involved in our work to create trade justice, click here  and to get involved in our work for climate ... Read more

Europe Eyes Chinese Yuan as Future Reserve Currency

Europe Eyes Chinese Yuan as Future Reserve Currency
The ECB Governing Council will discuss the possibility during its meeting on October 15th. The decision will come amidst decelerating inflation in both Europe and Asia that has increased the risk of deflation in developed nations. A stronger dollar and falling commodity prices have placed the eurozone in a tricky situation in which their options for reserves are shrinking. Analysts believe the move will help offer greater liquidity between ... Read more

China Overtakes US, Largest Economy In World

China Overtakes US, Largest Economy In World
In April, the World Bank’s International Comparison Program said that China is poised to overtake the US as the world’s biggest economy earlier than expected, possibly as soon as this year, using calculations that are based on so-called purchasing power parity (PPP). That prediction has come true. According to the International Monetary Fund’s latest World Economic Outlook, China’s GDP is worth $17.6 trillion, while ... Read more

Laura Flanders Interviews Gar Alperovitz on New Economy

Laura Flanders Interviews Gar Alperovitz on New Economy
Author and broadcaster Laura Flanders tackles the tough issues on this refreshingly invigorating news/talk show. In this week’s program Flanders talks with Gar Alperovitz, professor of Political Economy at the University of Maryland and author of numerous books, the most recent of which is “What then must we do – straight talk about the next American revolution”, on the movement for a new economy. With the recurring ... Read more

Privatization Keeps Failing, Will We Learn Government Can Be Better than Business?

Privatization Keeps Failing, Will We Learn Government Can Be Better than Business?
How many tax dollars must we pay before we question the conservative Gospel that business knows better than bureaucrats? Friends of political leaders owe fortunes to the public’s buy-in to private sector superiority – and its lust for wads of upfront money. We believe government ruined the railroads, when in fact government salvaged the railroads after government enabled the railroads to ruin themselves. We routinely make a joke of what may ... Read more

14 People Made More Money Than the Entire Food Stamp Budget for 50,000,000 People

14 People Made More Money Than the Entire Food Stamp Budget for 50,000,000 People
Above: Billionaire investor Warren Buffett.  (Photo: Fortune Live Media / flickr / cc) For the second year in a row, America’s richest 14 individuals made more from their annual investments than the $80 billion provided for people in need of food. Nearly half of the food-deprived are children. The fruits of American productivity go to the richest Americans, who can afford to hold onto their fortunes, defer taxes indefinitely, and then ... Read more

The False Jobs Recovery: Low Unemployment Rate Misses Key Points

The False Jobs Recovery: Low Unemployment Rate Misses Key Points
Note: As the corporate media talks about the need to begin to raise interest rates because unemployment is decreasing they fail to report the key point — the major reason unemployment is down is not because of sufficient new jobs but because more Americans have given up trying to work. Unemployment figures have been distorted over the years so this reality is hidden from the unemployment rate. The other important point not emphasized ... Read more