Tag Archives: inequality

Obama’s Trade Deal Would Deepen Income Divide

Obama’s Trade Deal Would Deepen Income Divide
“Those at the top have never done better,” President Obama ruefully acknowledged in his January 28 State of the Union speech. “But average wages have barely budged. Inequality has deepened.” Yet, moments later, Obama heartily endorsed the Trans-Pacific Partnership (TPP), which as drafted directly ... Read more

Underestimating Capital, Overestimating Labour

Underestimating Capital, Overestimating Labour
The US economy seems to be emerging from the latest crisis, albeit hesitatingly and with remaining fragility. A solid recovery would require a much greater and more consistent investment in infrastructure. This is unlikely to materialise so long as there is no organised working class threatening ... Read more

The Rigged Housing Market

The Rigged Housing Market
Did you know that Blackstone Group, one of the world’s largest private equity funds, snapped up1,400 foreclosed Atlanta homes in one day? Around the country, Blackstone has bought at least 40,000in the past two years. This spree, all the rage among big investors, raises real estate values from nearly worthless to ... Read more

Housing and the Construction of the Racial Wealth Gap

Housing and the Construction of the Racial Wealth Gap
Yesterday, apropos of Paul Ryan’s remarks on “inner-city poverty” and a culture that “doesn’t value work,” I wrote about the policy that went into building our inner-cities and depriving whole communities of wealth and opportunity. Likewise, at MSNBC, Ned Resnikoff wrote an excellent piece ... Read more

The education-wage disparity continues to grow

The education-wage disparity continues to grow
The jobless rate of Americans ages 25 to 34 who have only completed high school grew 4.3 percentage points to 10.6 percent in 2013 from 2007, according to Bureau of Labor Statistics data. Unemployment for those in that age group with a college degree rose 1.5 percentage points to 3.7 percent in ... Read more

Teachers Union Defeats Corporate Interests in Portland

Teachers Union Defeats Corporate Interests in Portland
Public school teachers in Portland, Ore., and their students are doing a victory lap. Nearly a year after unveiling a contract proposal that would have put the squeeze on the 2,900-member Portland Association of Teachers (PAT), the Portland School Board on March 3 approved a contract that ... Read more

How Co-ops Helped Produce Foot Soldiers for Civil Rights

How Co-ops Helped Produce Foot Soldiers for Civil Rights
Southern pews and pulpits weren’t the only source of people power during the long civil rights movement. So, too, were cooperative economic enterprises. These worker or consumer-owned alternatives to U.S. capitalism helped train and produce civil rights leaders from A. Philip Randolph to ... Read more

High Minimum Wage Equals Jobs Growth

High Minimum Wage Equals Jobs Growth
When Washington residents voted in 1998 to raise the state’s minimum wage and link it to the cost of living, opponents warned the measure would be a job-killer. The prediction hasn’t been borne out. In the 15 years that followed, the state’s minimum wage climbed to $9.32 -- the highest in the country. ... Read more

How Silicon Valley’s Class War Will Spread

How Silicon Valley’s Class War Will Spread
It doesn’t take a social microscope to see that Silicon Valley—San Francisco in particular—is in the middle of a cultural upheaval. As the massive influx of tech industry employees continues to gentrify the Bay Area, city natives have taken to protesting the very existence of their city’s proudest ... Read more

Welcome to the Creditocracy, Where Your Debt Piles Up Forever

Welcome to the Creditocracy, Where Your Debt Piles Up Forever
Last month, the Federal Reserve confirmed the ominous news. The decline in US household debt from sky-high 2008 levels has halted, and the figures are on the rise again – up by $241bn (or 2.1%) in the fourth quarter of 2013, following a smaller increase in the third quarter. Unlike ... Read more