Economy

A video version of the earlier post, “$47 Trillion – the ripoff by the rich and corporations – in two charts – maybe a few more…..” is available on YouTube:

The other day I was poking around in TikTok to see what it is all about. Came across a quote from Karl Marx that struck a chord. “There must be something rotten in the very core of a social system which increases its wealth without diminishing its misery.” Here we --->> read more -->>

I was already 31 years old when the rip-off of America began in 1979. I was busy, and the changes in American life were only occasionally to be noticed.  By the mid-1980s my management life started to feature the early signs of the financialization of the corporation. I knew of --->> read more -->>

My previous post, “$47 Trillion – the ripoff by the rich and corporations – in two charts – maybe a few more…..” raises the question of exactly what 47,000,000,000,000 amounts to. There are so many “0”s! Let’s work with a one-dollar US paper bill. So how many dollar bills do --->> read more -->>

  By chance, I saw an exhibition titled “The Future of Money” (thru 9.9.2023) at the Art Museum of The Hague, Netherlands in May 2023. The central work is a very large drawing that illustrates the flows of money through the economy. Now there is a video tour of this --->> read more -->>

Only the oldest amongst my readers will remember Edward R. Murrow’s 1960 CBS TV report Harvest of Shame (opens CBS channel on YouTube) that reported on migrant farm workers, including scenes from upstate NY and Long Island. Unfortunately, not a lot has changed for the better in the lives of migrant --->> read more -->>

Reich is offering an online course, “Wealth & Poverty”, that started today. I watched the first lecture, “What Happened to Income and Wealth?” Looks like this will be worth some ongoing effort. I suggest being ready at the fast forward button for the parts of the class when Reich is --->> read more -->>

In the last couple of years articles have begun to appear with titles like: When Private Equity Becomes Your Landlord Where Have All the Houses Gone: Private Equity, Single-Family Rentals, and America’s Neighborhoods Meet the Latest Housing-Crisis Scapegoat Wall Street has purchased hundreds of thousands of single-family homes since the --->> read more -->>

China spends more on importing computer chips – $260 billion in 2017 – than it does importing oil. President Biden’s recent bans on the export of American-made chips to China as well as a ban on companies throughout the world using American technology to export to China intends to make --->> read more -->>

Plus ça change, plus c’est la même chose. Here is a book review I posted on markorton.com 3.24.2001 When Work Disappears: The World of the New Urban Poor – book review When Work Disappears: The World of the New Urban Poor Book Review: William Julius Wilson, When Work Disappears: The --->> read more -->>

Original posting – 3.6.2023 Matthew Desmond, author of Evicted: Poverty and Profit in the American City, has a new book Poverty, by America set to be released shortly. He has written a piece for the NYTimes, “Why Poverty Persists in America” that is worth a read. He poses this question --->> read more -->>

Today, March 14, 2023 is Equal Pay Day “This date symbolizes how far into the year women must work to earn what men earned in the previous year.” Women have to work a fifth of a year longer to make it to the same pay as men. The wage gap --->> read more -->>

Financialization is an awful word. It sounds clumsy in the mouth and refers to a process that has been underway for over 40 years but is nearly unknown to most of us. Before we get to Norfolk Southern, the railroad company, what is financialization? Basically, financialization is a nested set --->> read more -->>

Here are two more angers: (an addendum to the 1.1.2023 post: My Year End Siege of Angers – the list) Guns:  “Eighteen percent of U.S. households purchased a gun since the start of the pandemic (March 2020–March 2022), according to new survey data from NORC at the University of Chicago, increasing --->> read more -->>

Yesterday as I was taking a walk up and down Warren St. here in Hudson I realized that I had become actively angry about the state of the US and the world. I walked past hotels where a single room would set you back $400 for a night or you --->> read more -->>

Southwest Airlines canceled thousands of flights representing more than 80%of all cancellations during the Christmas 2022 snowstorm. The scale of this service implosion led to stories about old software systems for managing passenger bookings and flight schedules. Then, discussions of Southwest’s point-to-point flight strategy that differs from the other major --->> read more -->>

The work to revise and expand my 2018 essay “Capitalism – a critique” has entered its final stages. A final draft has been distributed to a number of readers for comment and critique. I am now working on a book version. Capitalism – the actual workings – is the new working --->> read more -->>

Ban inequality – the word, the naked word, from our political rhetoric. Inequality is everywhere around us in the media sphere as well as in our day-to-day conversations. Amongst progressive folk one can drop the word like an F bomb and summon up agreeable outrage in one’s interlocutors without saying --->> read more -->>

An introduction to monopolies and book review of Zephyr Teachout’s new book Break’Em Up: recovering our freedom from big ag, big tech, and big money, All Points Books, 2020. What are monopolies? How monopolized (concentrated) is the US economy Examples of how monopolization works and its effects The history of --->> read more -->>

If you are struggling to get your head around how racism works you will probably find it helpful to have a general framework as a guide. This one hour lecture from 2017 features an overview by Brown University Professor Tricia Rose of the structure of racism and how it works --->> read more -->>

Kristof and WuDunn’s book, Tightrope – Americans Reaching for Hope, spent some weeks on bestseller lists. Kristof is a well known reporter and writer for the NYTimes. It centers around the town of Yamhill OR and the people that Kristof grew up among. The stories of industrial decline, increasing inequality, --->> read more -->>

[1]When Congress passed the second pandemic stimulus bill, the CARES Act, in late March, a key feature was the Paycheck Protection Program(PPP). This was $349 billion described as targeted to small businesses (in the world of the Federal government small businesses have long been defined as having fewer than 500 --->> read more -->>