socialist-economics

World Order in the Age of Trump and Trumpism https://www.globalpolicyjournal.com/blog/31/10/2018/world-order-age-trump-and-trumpism Richard Falk's lecture on 'World Order in the Age of Trump and Trumpism' at West Chester University, October 24, 2018. The title requires a few words of explanation. By the 'Age of Trump,' I mean not only the current American president. The phrase is meant to encompass elected leaders like him around the world. I have a friend in India who refers to Narendra Modi as 'our Trump' and the newspapers have been full of commentary to the effect that the new leader of Brazil, Jair Bolsonaro, amounts to 'a Brazilian Donald Trump,' although some familiar with Bolsonaro's worldview insist that 'a Brazilian Joseph Goebbels' is more accurate. This extension of Trump to Trumpism is meant to make us aware that Trump is not just an American abnormality. He reflects a structural conditions that seem global in character, alth...

Commentary: New York Times Investigation Highlights Failures in Taxing Income From Wealth https://www.cbpp.org/federal-tax/commentary-new-york-times-investigation-highlights-failures-in-taxing-income-from-wealth  -- via my feedly newsfeed

Yet another reason why Megyn Kelly does not need your sympathy https://www.epi.org/blog/yet-another-reason-why-megyn-kelly-does-not-need-your-sympathy/ Megyn Kelly is out at NBC after an uproar over her comments in defense of blackface Halloween costumes during an episode of her television show last week. NBC has canceled "Megyn Kelly Today" and Kelly will be negotiating an exit from her contract. Speculation that Kelly would get a full payout for her three-year, $69 million contract drew a  bitter response  from people on Twitter. "Congrats to Megyn Kelly for getting $69 million for thinking blackface is fine," one person tweeted. Kelly's unfathomable severance package isn't the only thing  separating her from regular working people . She actually may have a say in her noncompete clause. According to  The Hollywood Reporter , her legal representation is "attempting to keep her noncompete clause as short as possible. Six months is the standard in the te...

Class Consciousness Comes to America http://prospect.org/article/class-consciousness-comes-america R osedale Avenue is a quiet street in Columbus, Ohio, with compact houses that are showing some wear. I recently spent an evening talking with some of the residents on their doorsteps about their jobs, the economy and the future. Tom, a friendly 23-year old covered in tattoos, was just pulling up to his home with his wife Megan, 22, and their two toddlers. They'd been middle-school sweethearts and have been working hard to build a life. Tom makes $14 an hour working with a landscape company, but because it rained that day, he didn't work and didn't get paid. Megan works part-time for $11.50 an hour at a candy store at a seasonal job. "My generation is screwed," Tom tells me. "They all live with their parents, playing video games. I've got 20 cousins like that. There are plenty of jobs—but not enough  good  jobs," he continues. "Our parents had good...

Corporate Concentration, Intellectual Property Rights, and US Public Policy https://economicfront.wordpress.com/2018/10/28/corporate-concentration-intellectual-property-rights-and-us-public-policy/ Dominant corporations have dramatically increased their market power in the US over the last decades, allowing them to boost their profits and, by extension, political power. And, although rarely acknowledged by the media, this trend owes much to the way public policy has promoted corporate intellectual property rights at the public expense. The growing concentration of market power Gwynn Guilford, drawing on a  study  published in the  Journal of Economic Perspectives ,  highlights  the growing concentration of market power with the aid of the following charts. The first chart shows that while 109 public corporations captured half of the total profits earned by all public corporations in 1975, that number fell to just 30 by 2015.  And as the second chart reveals, this growth in market conce...

Trump Tax Cuts at Election Time: Failing on Schedule http://cepr.net/publications/op-eds-columns/trump-tax-cuts-at-election-time-failing-on-schedule The Republican tax cuts passed last year were supposed to usher in a new wave of prosperity. The promise was an investment-led economic boom, which would lead to higher wages and income across the board. The tax cut would "pay for itself" as this surge in growth would lead to such a burst of new tax revenue that returns would be the same or even higher, in spite of the lower tax rates. It is still a bit less than a year since Congress passed the tax bill, but it is already pretty clear that things are not going as promised. First, the claims about a surge in tax revenue lowering the budget deficit do not seem to be coming true. The deficit for fiscal year 2018 ended up being $779 billion or 3.7 percent of GDP. The Trump administration had projected a deficit of $440 billion or 2.2 percent of GDP. Almost the entire shortfall was d...

John Case has sent you a link to a blog: Blog: Enlighten Radio Post: Podcast: NAME IN PROGRESS SHOW -- Bombs ifor the Libtards! -- 10.25.18 Link: http://www.enlightenradio.org/2018/10/podcast-name-in-progress-show-bombs.html -- Powered by Blogger https://www.blogger.com/

John Case has sent you a link to a blog: Blog: Enlighten Radio Post: The Raw Edition of the FIRST "No Name Yet" is HERE -- The 10.18.18 Show Link: http://www.enlightenradio.org/2018/10/the-raw-edition-of-first-no-name-yet-is.html -- Powered by Blogger https://www.blogger.com/

Krugman's ratios of "defenses" as opposed to "assaults" on "socialism" (putting quotes around historically squishy terms) is getting larger. That's good. Since he is the most capable simplifier of complex economic science, and policy, around. While we socialists overlooked way too much complexity in the Day, PK's liberal escape routes from the decidedly Marxian trajectories of modern capitalism are vanishing. And he is shifting too. Are the Danes Melancholy? Are the Swedes Sad? https://www.nytimes.com/2018/10/27/opinion/are-the-danes-melancholy-are-the-swedes-sad.html Are the Danes Melancholy? Are the Swedes Sad? [feedly] The recent report by the White House Council of Economic Advisers on the  evils of socialism  has drawn a great deal of  ridicule , and rightly so. It boils down to something along the lines of "You want Medicare for All? But what about the terrible things that happened under Mao Zedong?" That's barely a caricatu...