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 -->>
Capitalism features a structural drive to create and use external costs to increase profits. Pollution of the earth is the most obvious and visible; there are many others including injuries and death for workers.
Introducing the In Depth series on the actual workings of capitalism. Commentary on economic theories.
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 -->>
Back in the early and mid ‘70s both Karen and I worked in various machine shops and other industrial locations. Trichloroethylene (TCE) was used on a daily basis to clean metals parts and other materials. I remember a large tank of slowly roiling hot TCE at Stevens Arnold, Inc. in --->> read more -->>
We generally don’t report or comment on local affairs here at AmericanDelusions. But, the craziness of real estate development in Greenport, the town that surrounds our hometown of Hudson, illustrates a downside of our market centered economy working in an environment where whatever the market wants it gets. The Greenport Planning --->> read more -->>
It will be no surprise to regular readers of AmericanDelusions that we are skeptical of markets and even more so claims made for markets. So, it was a pleasure to read the recent op-ed piece by Esther Duflo and Abhijit Banerjee, winners of the 2019 Nobel Prize in Economics, “Economic --->> read more -->>
Supreme Court Justice Clarence Thomas has been famous and more than a bit of an outlier in American life from the moment he came on the public stage over the summer of 1991. Today I noted an interesting book review by Harvard sociologist Orlando Patterson in the October 4, 2019 --->> read more -->>
Robert Reich is continuing his series of brief YouTube videos on progressive view of the economy. This is a good introduction to the arguments for re-invigorating our protections against monopolies. However, the problem is much more widespread than just the high tech industry. We’ve written about this broader phenomenon in --->> read more -->>
The May 9th NYTimes has an Op-Ed essay, It’s Time to Break Up Facebook, by Chris Hughes, the co-founder of Facebook, calling on the government to break up that company. The essay is very thorough in describing the current monopoly behavior of Facebook, the deleterious effects on competition and vigor in --->> read more -->>
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In our continuing effort to find varied sources to illustrate the power of marketing and the costs of unregulated capitalism we return to John Oliver’s show Last Week Tonight for his segment on sugar in food. The food industry continues to put sugar in nearly every processed food and fights --->> read more -->>
We have written earlier (for example our article The Monopolization of America) about the increasing concentration of market power In the hands of just a few corporations. This is a phenomenon occurring throughout the US economy (really more broadly across the globe). Here is an 11 minute review of --->> read more -->>
American higher education, once the envy of the world, is continuing to slump towards a becoming a factory for debtors. With falling public tax support around the country for our two and four year colleges and universities, students are underwriting the enormous growth in tuition and administrators’ salaries with student --->> read more -->>