Category: economy

How Much Money Would It Take To Eliminate Poverty in the US?

This 2013 article “How Much Money Would It Take to Eliminate Poverty” (http://prospect.org/article/how-much-money-would-it-take-eliminate-poverty-america) addresses this question. The answer then was $175 billion. This is a ridiculously small number in the context of a $16 trillion GDP. As someone who is on the homeowners gravy train I was stuck by this part of the article: “The utterly…

Talk Back: Correcting the Anti-Government Bias of Our Politics

President Reagan was not the originator of this central trope of free-market (neo-liberal) politics, but he famously said in his first Inaugural Address in 1981, “Government is not the solution to our problem; government is the problem.” President Clinton, a Democrat, continued this theme during his terms culminating the the deregulation of the financial industry…

The Gig Economy in the Academy – a note

The values of capitalism, especially as expressed through free market (neoliberal) ideology, have come to dominate how we organize our lives. Silicon Valley and the tech sector is busy celebrating the “gig” economy. Companies have simply stopped hiring employees and now conduct much of their work using “temps”, “1099ers”, part-time contract workers. The companies, and…

Book Review – The Rise and Fall of American Growth

The Rise and Fall of American Growth: the US standard of living since the Civil War by Robert J. Gordon [2]Princeton U. Press. 2016 is a weighty book in every regard. At 762 pages it is a heavy lift – not beach reading or even bed-time either. But I found it almost a page turner. It…

Flash Boys Doesn’t Ask the Important Question

Flash Boys cover by Michael Lewis

We should demand that our financial markets serve their findamental purposes – connect investors with those who can deploy those resources to create new products and services and enable the flow of these goods and services. To call holding financial insturments whether stocks, bonds, or other assets for mere seconds investments is to beggar the mind.

Wall St – not about investing but fixing the game

playing cards

An article in the NY TImes today reports [7]Regulators Examining Early Sales of Financial Data http://nyti.ms/12hDF3t that NY Attorney General Schneiderman is pursuing various information providers, Thomson Reuters in the immediate case, for their practices of selling market sensitive information preferntially. Those paying a premium get information several minutes before its release to the general…

Thomas Friedman’s It’s a 401(k) World – facile, misleading

Thomas L. Friedman NYTimes

Reading this op ed leaves one with the notion that these changes have arisen through some immutable forces of nature.
He fails to mention that in parallel with the individual being more and more alone in the world, big corporations and governments are becoming ever more well integrated, feeding at each others’ troughs.