RECENT NEWS

Urban Farms Build Resilience Within Singapore’s Fragile Food System

Urban Farms Build Resilience Within Singapore’s Fragile Food System
Above: A crew of volunteer “aunties” weed and harvest basil at the ComCrop rooftop farm, set high above Singapore’s Orchard Road.Maureen Pao/NPR Once lined with plantations, Singapore’s Orchard Road is now a sort of Asian Rodeo Drive. But overlooking the commercial mecca is a different kind of oasis: 6,000 square feet of vegetable and fish gardens. The aquaponic garden features mint, basil and leafy greens growing in ... Read more

Economists Say We Should Tax The Rich At 90 Percent

Economists Say We Should Tax The Rich At 90 Percent
Above: Members and supporters of Welfare Rights Committee stand in front of banner after April 15 “tax the rich” protest. (Fight Back! News/Kim DeFranco) Kindermann and Krueger say that a top marginal tax rate in the range of 90 percent would decrease both income and wealth inequality, bring in more money for the government and increase everyone’s well-being — even those subject to the new, much higher income tax rate. ... Read more

The Bottom 90 Percent: Poorer Today Than They Were In 1987

The Bottom 90 Percent: Poorer Today Than They Were In 1987
The Federal Reserve has already told us that the median households is worth less now than it was in 1989 – that’s the household right in the middle — it turns out that everybody but the richest 10 percent of Americans are worst off. That includes the poor, the entire middle class, and even what we would consider much of the upper class. You can see this troubling finding in the chart above, based on data from Emmanuel Saez ... Read more

Why Austerity Is Generating Another Slowdown

Why Austerity Is Generating Another Slowdown
Austerity is undermining the world economy. The broader reasons for the commodity slowdown and deflation concerns involve a generally sick economy around the world. China has a growing debt bubble to manage. Japan’s experiment with economic revival has run aground amid a large increase in the consumption tax. And Europe stands on the brink of a triple-dip recession. America, with our sluggish growth, represents the positive outlier in this ... Read more

Housing The Homeless In Baltimore’s Vacants

Housing The Homeless In Baltimore’s Vacants
Housing the homeless of Baltimore in the city’s vacant rowhouses is being floated again by local affordable housing activists whose idea forms the core of an article in the current Atlantic. By Fern Shen, www.baltimorebrew.com Above photo: (Sleeping in a doorway a block from City Hall last winter. Photo by: Fern Shen) Their idea is “to create a community land trust – a non-profit that will hold the title to the land in order to make it ... Read more

Sustainable Communities: Creating A Durable Economy

Sustainable Communities: Creating A Durable Economy
In the Federal Reserve Bank of Boston’s Communities & Banking Journal, localist Bruce Seifer presents an excerpt from his new book that describes the shift in Burlington, Vermont’s economic development strategy from one that seeks corporate subsidies to one based on building local entrepreneurship. Seifer gives an overview of the city’s long-term economic vision and describes the city’s efforts to convert business into employee-owned ... Read more

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