Subjects Archives: Political Economy

A few weeks can do a lot to sweep away old assumptions.  Last year U.S. leftists were wondering why the worst economic crisis in 70 years hadn’t inspired a stronger response from its victims; now Arabs have toppled neoliberal regimes in Tunisia and Egypt, and U.S. workers have fought cutbacks and union-busting in Wisconsin with […]

The Case-Shiller 20-City index fell sharply again in December, dropping a full percentage point from its November level.  This is the third consecutive month that it has fallen by at least 1.0 percent.  It is now down by 4.3 percent from its peak in July.  Nineteen of the 20 cities had a drop in prices.  […]

  Testimony before the Insurance, Commerce, and Labor committee, 17 February 2011 Statehouse Mobilization against SB 5 and Kasich’s Anti-Worker Agenda Date: Tuesday, February 22, 2011 Time: 1 PM Location: Ohio Statehouse, 1 Capitol Square, Columbus, OH Click here for more info. My name is Sherry Linkon, and I’m John Russo.  Thank you for giving […]

  Testimony before the Insurance, Commerce, and Labor committee, 17 February 2011 Statehouse Mobilization against SB 5 and Kasich’s Anti-Worker Agenda Date: Tuesday, February 22, 2011 Time: 1 PM Location: Ohio Statehouse, 1 Capitol Square, Columbus, OH Click here for more info. Good morning Chairman Bacon, Vice Chair Farber, Ranking Member Schiavoni and distinguished Committee […]

We, the student and precarious workers of Europe, Tunisia, Japan, the US, Canada, Mexico, Chile, Peru and Argentina, met in Paris over the weekend of the 11th-13th of February, 2011 to discuss and organize a common network based on our common struggles.  Students from Maghreb and Gambia tried to come but France refused them entry. […]

I said several days ago that the die was cast for Mubarak and that not even Obama could save him. The world knows what is taking place in the Middle East. The news is circulating at incredible speed. Politicians barely have time to read the cables coming in by the hour. Everyone is aware of […]

There is much confusion about the current economic situation, among left media and organizations as well as in the mainstream media.  This is certainly understandable given its complexity.  But what many are referring to as causes are symptoms of a deeper underlying problem — in other words, sparks that produced the Great Recession by igniting […]

  A national campaign is now fully launched to make local public sector employees pick up a major share of the costs of economic crisis.  Years of rising spending and falling revenue have carved a path of destruction through federal, state, and local budgets.  Deficits and debts have mounted, eroding taxpayer support for government spending […]

In his State of the Union address, President Obama insisted on the need to protect Social Security and ensure that future generations can depend on it.  Nevertheless, it appears that some in Congress are considering major changes to the program.  Unfortunately, many people do not understand the program’s solvency or the likely importance that it […]

On January 15, the New York Times ran an interesting piece on older workers.  According to Bureau of Labor Statistics data cited in the story, the US workforce is a lot older now than it was at the onset of the Great Recession in December 2007.  Total employment of workers under the age of 55 […]

The labor market recession continued to exact a toll on union membership, which fell sharply in 2010.  The Bureau of Labor Statistics reported that the unionized share of the U.S. workforce dropped to 11.9 percent last year from 12.3 percent in 2009.  The private sector unionization rate fell to 6.9 percent in 2010, from 7.2 […]

  Past US administrations have deported illegal immigrants, but under President Obama the process has accelerated. This video was first released by Al Jazeera on 19 January 2011. | Print  

I shall relate a bit of history. When the Spanish “discovered” us five hundred years ago, the estimated population on the Island was no more than 200,000 inhabitants who were living in harmony with nature. Their main sources of food came from the rivers, lakes and seas rich in protein; they were also carrying out […]

  The attack on the public sector through pay freezes, furloughs, layoffs, and proposed cuts is also an attack on Black and Latino workers. Cuts to social safety nets hit Blacks and Latinos hardest. Video by United for a Fair Economy. Read United for a Fair Economy, “State of the Dream 2011: Austerity for Whom?,” […]

14 January 2011 Where are the ‘democracy promoters’ on the Tunisian uprising?, asks Marc Lynch.  It’s a fair question: Thus far, a month into the massive demonstrations rocking Tunisia, the Washington Post editorial page has published exactly zero editorials about Tunisia.  For that matter, the Weekly Standard, another magazine which frequently claims the mantle of […]

Yesterday I listened to him when he spoke at the University of Tucson where homage was being paid to the 6 people murdered and the 14 wounded in the Arizona massacre, especially the Democratic congresswoman for that state, seriously wounded by a gunshot to the head. It was the deed of an unbalanced person, drunk […]

Introduction and Summary: In “The Role of Prices in Measuring the Poor’s Living Standards,” Christian Broda, Ephriam Leibtag, and David E. Weinstein (2009) use proprietary data — the 2005 Nielsen Homescan dataset — to analyze differences by income level in the prices paid for food.  They find that Nielsen households with incomes above $60,000 pay […]

“Happy New Swindle!” Eneko Las Heras, born in Caracas in 1963, is a cartoonist based in Spain.  The cartoon above was first published on his blog . . . Y sin embargo se mueve on 3 January 2011.  Translation by Yoshie Furuhashi (@yoshiefuruhashi | yoshie.furuhashi [at] gmail.com). | Print

  Is it a good idea to let the foreclosures roll on?  A lot more than that, say the banking and mortgage industries, among others.  “Home repo” is critical to economic recovery, they argue.  Stopping foreclosures would cut the legs off a still-wobbly rebound.  In the industry’s view, the fewer foreclosures, the fewer resales; the […]

The Crash of 2008 and its ghastly aftermath was not just an economic crisis but also a crisis aided and abetted by economics. Previously I have written about the Econobubble (the handmaiden of the “real” Bubble) and the toxic theories of economists who were very recently rewarded with the Nobel Memorial Prize in Economics.  Following […]