American living standards are plunging and it’s not simply because they are paid less, work longer (or shorter hours) under highly stressful workplace conditions and pay a higher percentage of their income for health and…
Tag: income
Beginning in earnest in the late Seventies, a sustained and pervasive ideological attack was mounted against the role of the State in managing economic affairs. The terms of the attack ranged from ethical…
Capitalism in Crisis: Who are the REAL “Takers”? Capitalism is in crisis across the globe. When both the President of the United States and the Pope take out after its worst manifestations within days of each other, you know there’s an internal time-bomb inside this dysfunctional economic system. Though the American population clearly feels and is forced to deal with the ramifications of this failing system, it’s highly unlikely that capitalism will be dismantled in favor of full-scale socialism. (Even though recent U.S. polls demonstrate that “socialism” no longer is a boogeyman to be frightened of.) So the question now is which type of economic system do we want to live under: hard line, I’ve-got-mine-Jack-you’re-on-your-own capitalism? “capitalism with a human face”? democratic socialism? a new blend?
Former Clinton administration Labor Secretary Robert Reich explained, saying: “Of all developed nations, the United States has the most unequal distribution of income, and we’re surging towards every greater inequality.” America’s 400 richest elites have…
Four out of 5 U.S. adults struggle with joblessness, near-poverty or reliance on welfare for at least parts of their lives, a sign of deteriorating economic security and an elusive American dream. Survey data exclusive…
Most discussion about prostitution in Southeast Asia of late has been focused upon the issues of human trafficking and sex tourism across the region. However, with the exception of those fraudulently lured into the sex…
The 400 richest Americans made $200 billion in just one year. That’s equivalent to the combined total of the federal food stamp, education, and housing budgets. First of all, who are they? Mostly the 1%….
The Current Employment Crisis Has Deep Roots, Going Back Half a Century Econintersect: The Associated Press (AP) has reported survey data indicating that approximately 80% of U.S. adults face severe economic struggles. The results show the hardship…
This photo taken Friday July 12, 2013, shows the Salyers’ produce stand in Council, Va. Four out of five U.S. adults struggle with joblessness, near poverty or reliance on welfare for at least parts of…
Preface: All capitalist systems have some inequality. We don’t want to prevent all inequality … just economy-wrecking levels: Lawrence Katz, a Harvard economist, adds that some inequality is necessary to create incentives in a…