In a new book, Richard V Reeves worries that the top echelons of the U.S. middle class—those earning over $120,000—are separating from the rest of the country, and pulling up the drawbridge behind them. But Reeves needs to take another look at what’s going on: what about the people who produce but do not share in the surplus—or, for that matter, have any say in what happens to the surplus?Read more
In this exclusive for Democracy at Work, Paul Sliker and Dante Dallavalle talk with Michael Hudson, one of the world’s six economists who accurately predicted the 2007-2008 financial crisis.
Check out the full transcript and audio.Read more
The failure to imagine alternatives to neoliberalism’s coda of self-interest, individualism, private ownership, unmanaged markets and exorbitant privilege given to finance is odd, because successful beacons of different approaches already exist and are emerging everywhere.Read more
A rational society would not permit the amount of money one has to spend for housing to be the criterion for access to housing. The fight against gentrification as rents soar in Boyle Heights, Los Angeles shows us why affordable housing should be provided for all.Read more
The crazy greed of business enterprises to earn profit has turned the human species from Homo sapiens to the slavery status of Homo employees, whose lives mean nothing more than a bare survival.Read more
“Time theft” is an ongoing problem of contemporary capitalism, both within the dictatorship of the workplace and in the seeming democracy of our lives outside of work.
Economist David Ruccio responds to Elizabeth Anderson and her recent article for Vox about workplace dictatorship.
"A sovereign currency issuer like the UK Government (or the US Government) has no physical limits on how much money it can create and spend. This is by definition and not a matter of opinion."
Patricia Pino explains how the UK general election exposed the ignorance of politicians and the general public around the subject of macro-economics.Read more
Our friends at Sustainable Human recently created a short video featuring Professor Wolff, where he compares capitalism to feudalism and slavery, and explains how a more democratic economic system is possible.Read more
Unmistakable signs point to the fact that the mass of US citizens are economically, socially, and psychologically in bad shape. Dr. Harriet Fraad breaks down the economic, social and emotional conditions, and how they relate to each other.Read more
What most of us have long believed about how the economy works is based on a set of fundamental myths, supported by a series of inappropriate and misleading metaphors, from which it is difficult to escape. The emotional investment we have made in these myths has allowed for levels of unemployment, underemployment, inequality and relative poverty which would have seemed incredible a generation ago.Read more