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
Large corporations and wealthy individuals pay far less than their fair share of taxes. Until we democratize the economy, the rest of us—who are not members of the boards of directors of large corporations or wealthy individuals—will continue to be forced to shoulder the burden of paying taxes to finance government services.Read more
The largest study comparing worker cooperatives to normal companies shows that cooperatives are more productive.Read more
In this careful and robust examination of all of the evidence currently available, economist Virginie Pérotin compares the performance of worker cooperatives to that of conventional capitalist firms.Read more
The growth of inequality over decades is due to the ability of those at the top and those at the very top to capture a large portion of the growing surplus. But there has also been a change in the nature of that inequality in recent years, at least for those at the top—which is not due to escalating wage inequality, but to a boom in income from the ownership of stocks and bonds. They’ve now joined the ranks of the “coupon clippers,” who are able to use their accumulated wealth to get their share of the surplus.
The owners of capital at the very top are mirroring the structure of inequality last seen during the first Gilded Age.Read more
Treasury Secretary Steve Mnuchin may not be worried, but we should be. Workers will continue to suffer unless and until they have a say in how robots and the resulting surplus are utilized.Read more
Trump is Obama’s Legacy. Will this break up the Democratic Party? One of the world's leading economists explains.Read more
“I’ve been dreaming of this since I’ve been...drinking out of kegs.” This statement was brought to you by House Speaker Paul Ryan at a National Review conference. The reverie Mr. Ryan has been musing since his youthful fraternity days at Miami University has been to dismantle healthcare for millions of those who rely on programs such as Medicaid, Medicare, and now it’s recent expansion under the Affordable Care Act.
But it seems that Mr. Ryan isn’t the only dreamer. Under the new Trump regime the GOP may well come closer to realizing this morbid dream.Read more