A recession is coming, sooner or later. Once it hits, we can expect articles bemoaning the fact that working people didn’t build-up their savings during this record expansion to help them through the hard times. If only they had pinched pennies here and there, skipped a new TV or smart phone, they could have generated […]
Republicans and Democrats like to claim that they are on opposite sides of important issues. Of course, depending on which way the wind blows, they sometimes change sides, like over support for free trade and federal deficits. Tragically, however, there is no division when it comes to militarism.
Public awareness and acceptance of the negative consequences of corporate-driven globalization on U.S. workers has grown dramatically over the last years, aided in part by Donald Trump’s attacks on trade agreements like NAFTA.
In most states in the United States, the rich have enjoyed ever lower rates of taxation while working people have suffered from inadequately funded public services.
A recent article published in the American Economic Review, “Global Inequality Dynamics: New Findings from WID.world,” draws upon the World Wealth and Income Database to examine trends in global inequality.
The Chinese economy is big. In 2017, it was the world’s biggest based on purchasing power parity. Its output equaled $23.12 trillion, compared with $19.9 trillion for the EU and $19.3 trillion for the U.S.
These are supposed to be the good times—with our current economic expansion poised to set a record as the longest in U.S. history.
In December 2017 the Congress approved and the President signed into law the Tax Cuts and Jobs Act.
Public school teachers in West Virginia, Oklahoma, Kentucky, and Arizona have won meaningful salary gains for themselves, and in several cases other school workers, and real although limited increases in education spending.
While those at the top of the income pyramid continue to celebrate economic trends, the great majority of working people continue to struggle to make ends meet
There is a lot of concern over the possibility of a trade war between China and the US. In early April President Trump announced that his administration was considering levying $100 billion of additional tariffs on Chinese exports, after the Chinese government responded to a previously proposed U.S. tariff hike on Chinese goods of $50 […]
Understandably concerned about the consequences of the large and sustained U.S. trade deficit, many workers have grown tired of waiting for so-called market forces to produce balance. Thus, they cheer Trump administration promises to correct the imbalance through tariffs or reworked trade agreements that will supposedly end unfair foreign trade practices.
It happened gradually, but thanks to the U.S. media, economic news has largely been reduced to stock market reporting. Want to know how the economy is doing? Check the S&P 500 Index. Want to know whether the latest Trump proposal is good or bad? Check the S&P 500 Index.
The decline in the payroll share of output is class power at work: unfortunately theirs, not ours.
On January 23, Hyun Lee, the managing editor of ZoominKorea, and I spoke at a UCLA Center for Korean Studies sponsored event titled “North Korea in the Age of Trump.” I went first, offering a critical perspective on U.S. foreign policy towards Korea, North and South. Hyun Lee then talked about the importance of Science […]
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