There is growing interest in a Green New Deal, but far too little discussion among supporters about the challenging nature of the required economic transformation, the necessary role of public planning and ownership in shaping it, or the strategies necessary to institutionalize a strong worker-community voice in the process and final outcome.
President Trump is all in, touting his success in rebuilding U.S. manufacturing. For example, in his state of the union address he claimed: We are restoring our nation’s manufacturing might, even though predictions were that this could never be done. After losing 60,000 factories under the previous two administrations, America has now gained 12,000 new […]
Most calls for a Green New Deal correctly emphasize that it must include a meaningful commitment to climate justice. That is because climate change—for reasons of racism and capitalist profit-making—disproportionately punishes frontline communities, especially communities of color and low-income.
U.S. CEOs not only draw the highest salaries (including bonuses and equity awards, etc.), but they are king of the hill when it comes to lording it over their employees, as illustrated by the high ratio of CEO to worker earnings.
U.S. life expectancy is on the decline, falling from 2014 to 2017—the first years of decline in life expectancy in over twenty years.
There are many reasons for those at the top of the U.S. income distribution to celebrate the performance of the U.S. economy and tout the superiority of current U.S. economic and political institutions and policies. Unfortunately, there is a strong connection between the continuing gains for those at the top and the steadily deteriorating employment […]
Those living in the U.S. are encouraged to think that they live in the best country in the world with little to learn from the experiences of working people in other countries. This sense is reinforced by the fact that the mainstream media generally discusses U.S. problems without reference to developments or trends in other […]
The bank robber Willie Sutton, when asked by a reporter why he robbed banks, is reputed to have answered, “Because that’s where the money is.” Which brings us to a wealth tax.
Climate change is occurring, highlighted by dramatically shifting weather patterns and ever more deadly storms, floods, droughts, and wildfires. And the evidence is overwhelming that it is driven by the steady increase in greenhouse gases in our atmosphere, especially carbon dioxide and methane, produced by our fossil fuel-based economic system.
Growing awareness of our ever-worsening climate crisis has boosted the popularity of movements calling for a Green New Deal. At present, the Green New Deal is a big tent idea, grounded to some extent by its identification with the original New Deal and emphasis on the need for strong state action to initiate social-system change […]
If we hope to win a Green New Deal we will have to build a movement that is not only powerful enough to push the federal government to take on new responsibilities with new capacities, but also has the political maturity required to appreciate the contested nature of state policy and the vision necessary to […]
The multifaceted crisis we face today is significantly different from the crisis activists faced in the first years of the Great Depression. But there is no question that, much like then, we will need to build a powerful, mass-movement for change if we hope to harness state power to advance a Green New Deal.
The New Deal has recently become a touchstone for many progressive efforts, illustrated by Bernie Sanders’ recent embrace of its aims and accomplishments and the popularity of calls for a Green New Deal.
Despite its reputation as the wealthiest generation, baby boomers (generally considered to be those born between 1946 and 1964) are facing a retirement nightmare.
June 2019 marks the 10th anniversary of the current U.S. economic expansion. If it makes it through July it will surpass the 1991-2001 expansion as the longest on record. But while expansions are to be preferred over recessions, there are many reasons to view this record-breaking expansion critically. In fact, the nature of this expansion, […]
The current labor force participation rate of prime age workers, those 25-54 years, is a case in point. It remains below the previous peak rate in 2008, and even further below the peak rate at the turn of the century. We would need an additional 1.2 million employed prime age workers to match the 2008 […]
The headlines once again misrepresent the aims and consequences of a U.S. free trade agreement, in this case repeating the International Trade Commission’s claim that President Trump’s U.S.-Mexico-Canada agreement (USMCA) will boost U.S. growth and employment.
The U.S. and China are the two dominant poles in the global economy, as illustrated in the figure below which traces the global trade in parts and components.
Bank of France: “Six small jurisdictions (Bermuda, Ireland, Luxembourg, the Netherlands, Singapore and Switzerland), which count for less than 1 percent of the world’s population, hold 63 percent of the overall profits earned abroad by U.S. multinationals.”
Strikingly few discussions of China’s declining growth trajectory include mention of the country’s unemployment rate. Unfortunately, this official rate is worthless as an indicator of the China’s labor market conditions. In reality, China likely has a serious and growing unemployment problem.
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