Tag Archives: inequality

A Have and Have-Nots Internet

A Have and Have-Nots Internet
Over the past few years, a great deal of attention has been paid in the press to net neutrality’s potential collapse. Much of the analysis, however, has focused on its importance for maintaining anticompetitive business practices and the need to create a level playing field online for small businesses and Silicon ... Read more

You Call This a Middle Class?

You Call This a Middle Class?
The Bureau of Labor Statistics conducted a study of workers who were laid off during the Great Recession and found a new job. More than half are earning less money. During the recession, wage growth dropped from 3.5 percent a year to 1.5 percent, and has been stuck there ever since. The economic upheaval that began ... Read more

Record Profits Linked to Weak Wages

Record Profits Linked to Weak Wages
U.S. businesses have never had it so good. Corporate cash piles have never been bigger, either in dollar terms or as a share of the economy. The labor market, meanwhile, is still millions of jobs short of where it was before the global financial crisis first erupted over six years ago. Coincidence? Not in ... Read more

Social inequality and the war against the working class

Social inequality and the war against the working class
The staggering growth of social inequality—to the point where less than 100 people control more wealth than the bottom 3.5 billion people on the planet—has destroyed any social basis for democracy. What is emerging from the crisis and decay of capitalism is a new form of aristocratic ... Read more

Fortune 500 companies receive $63 billion in subsidies

Fortune 500 companies receive $63 billion in subsidies
Remember when President Obama was lambasted for saying “you didn’t build that”? Turns out he was right, at least when it comes to lots of stuff built by world’s wealthiest corporate behemoths. That’s the takeaway from a new study of 25,000 major taxpayer subsidy deals over the last two ... Read more

Public Sector Salaries Are Not the Problem

Public Sector Salaries Are Not the Problem
State and local governments around the country have sold off functions that once were provided largely, if not entirely, by government workers. But it is becoming increasingly clear that that these privatization deals not only reduce democratic control over services the public pays for, but, despite ... Read more

THE SUBPRIME EDUCATION CRISIS

THE SUBPRIME EDUCATION CRISIS
Oh dear. We appear to have what might be termed sub-prime student loans on which there are rising defaults. In fact it is possibly worse than sub-prime mortgages, because unlike mortgages, delinquent student loans cannot be written off in return for asset seizure. The borrower is stuck with the debt – possibly for ... Read more

How Big Banks Are Cashing In On Food Stamps

How Big Banks Are Cashing In On Food Stamps
The Agricultural Act of 2014, signed into law by President Obama last Friday, includes $8 billion in cuts to the Supplemental Nutrition Assistance Program (SNAP) over the next decade. One way the bill proposes to accomplish these savings is by reducing food stamp fraud. When the new farm bill is ... Read more