Category Archives: New Economy

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Student Debt Means Fewer Public Servants — And More Bankers

Student Debt Means Fewer Public Servants — And More Bankers
Above Photo: Flickr/Donkeyhotey Indebted students trained for public service are instead cutting bait and heading for Wall Street. Cum laude, my diploma reads — “with honor.” But cum debitum, “with debt,” is a bit more accurate. Collectively, America’s student borrowers owe $1.7 trillion. On average, each graduating senior this year is beginning their life around $37,000 in the hole. That looks like a lot, but when you’re living with student ... Read more

Atlanta Fought For $15 And Won

Atlanta Fought For $15 And Won
Above Photo: From jwj.org People working for the city of Atlanta received welcome news as the City Council unanimously passed a budget raising their wages. Starting on July 1, 2017, base pay for city employees will rise from $10.10 to $13 an hour. Even better news? By mid-2019, all city employees will earn a minimum of $15 an hour. Now more than 1,000 people who sweep the city streets, maintain local parks, and put out fires will have a ... Read more

Protesters Interrupt Rick Perry’s Speech At Energy Conference

Protesters Interrupt Rick Perry’s Speech At Energy Conference
Above Photo: Rick Perry smiled to photographers Monday as he left Trump Tower after a meeting with the president-elect. (Photo: AP) Contradicting overwhelming scientific consensus, the energy secretary claims that carbon dioxide is not the “primary control knob” for climate change. Energy Secretary Rick Perry offered little explanation when protesters pressed him to explain his position on climate change at an energy conference on Tuesday. ... Read more

Traditional Welfare And Taxes Can Be Reformed To Support Universal Basic Income

Traditional Welfare And Taxes Can Be Reformed To Support Universal Basic Income
Above Photo: basic income by asher platts Some of the most common questions ever asked in regards to the idea of a universal basic income (UBI) are in regards to the details. “How much income? Who gets it? Who pays for it? How is it paid for? What does it replace?” These are all great and important questions, but the answers vary from person to person, because the answers are a matter of personal and political preferences when it comes to ... Read more

US 1% Will Control 70% of Wealth By 2021

US 1% Will Control 70% of Wealth By 2021
Above Photo: America’s oligarchs are set to maintain their grip on the majority of the country’s wealth, with a new study claiming that they will control 70 percent of national wealth by 2021. (AP/Vadim Ghirda) A new study by the Boston Consulting Group has found that while wealth inequality is growing on a global scale, it has kicked into overdrive in the United States – where America’s 1% are expected to control 70 percent of the nation’s ... Read more

Are Robots Keeping Wages Low?

Are Robots Keeping Wages Low?
Above Photo: In this Aug. 21, 2015 photo, a man works amid orange robot arms at Rapoo Technology factory in southern Chinese industrial boomtown of Shenzhen. AP Photo/Vincent Yu It used to be the case that when employers had trouble hiring, wages would increase in places with low jobless rates. Then came the rise of machines. These days, employees aren’t being paid much more than they were in the past, a BMO economist said in a report ... Read more

Companies Can Either Make Things Or Make CEOs Rich

Companies Can Either Make Things Or Make CEOs Rich
Above Photo: Funny Solution Studio / Shutterstock Making breakthroughs for consumers is hard, companies have found. But making fortunes for CEOs is easy. Jeff Immelt, the CEO of General Electric since 2001, is retiring. The 61-year-old will be making a well-compensated exit. Fortune magazine estimates that Immelt will walk off with nearly $211 million, on top of his regular annual pay. Immelt’s annual pay hasn’t been too shabby either. He ... Read more

Move Your Money To The New Economy

Move Your Money To The New Economy
Above Photo: From neweconomy.net In recent years we’ve seen enormous energy from movements working to divest the money of individuals, institutions, municipalities, pension, funds, and more out of the extractive economy of Wall St. banks, private prison corporations, and the fossil fuel industry, and reinvest those funds into the New Economy. NEC believes in divestment and reinvestment as powerful strategies for change and offers the ... Read more

Involve Everyone In Production: Basic Principle Of The Economy In Rojava

Involve Everyone In Production: Basic Principle Of The Economy In Rojava
Above Photo: From geo.coop in Rojava and Bakur This is an academic article translated from Abrstrakt Magazine, where it first appeared in Turkish on 5th October, 2016. The basic principle of the economic policies of the Assad regime in Rojava was to keep the people poor and deprived in order to maintain their dependence. The Jazira [Cizîrê‎ / Cezîre] and Kobanî [Kobanê] cantons served as the breadbasket of Syria. Before the revolution, forty ... Read more

Seattle Mayor, 2 City Council Members Propose City Income Tax On The Rich

Seattle Mayor, 2 City Council Members Propose City Income Tax On The Rich
Above Photo: by Joe Raedle/Getty Images SEATTLE — Mayor Ed Murray and City Council members Kshama Sawant and Lisa Herbold on Monday proposed a new tax on high-income households. The proposal would place a 2 percent tax on joint filers’ income over $500,000 and single tax filers’ income over $250,000. They said the estimated $125 million in new annual revenue would allow the city to lower the burden associated with property taxes and other ... Read more