Capitalism Archives - Page 5 of 5

Capitalism

There’s a Hidden Economic Trendline That Is Shattering the Global Trade System

Why economic nationalism is suddenly a fashionable excuse for countries to decrease their reliance on the existing global supply chains

July 8, 2020 • by Marshall Auerback and Jan Ritch-Frel

Covid-19 has accelerated a process that was well underway before it, spreading beyond U.S.-China-EU trade negotiations and into the world’s 50 largest economies. As much as many defenders of the old order lament this trend, it is as significant a shift as the dawn of the World Trade Organization (WTO) ...

There’s a Hidden Economic Trendline That Is Shattering the Global Trade System

Capitalism

Don’t Sell Your Mind

June 16, 2020 • by Janet Capron

A few years ago, an exciting new publishing house named Unnamed Press published my memoir about street life in the seventies, including the time I spent hooking in various whorehouses and massage parlors around town. The book was well received, and I went on a small tour, where my readings ...

Capitalism

Tesla’s Latest Rip-Off

June 8, 2020 • by Pat Garofalo

That’s how one resident of Tulsa, Oklahoma, reacted to the city repainting a seventy-five-foot statue of an oil driller, erected in 1966, to look like Tesla CEO Elon Musk. Tulsa is reportedly on the short list—along with Austin, Texas—for a new Tesla Cybertruck factory, so local leaders are pulling out ...

Capitalism

Job Market Astrology

When they were kicked to the curb, jobless workers mostly blamed themselves: Enter career coaches

May 21, 2020 • by Patrick Sheehan

Roberta is not a Tarot card reader. She is a professional “career coach” who specializes in guiding the white-collar unemployed through hard times. Roberta is manning a vendor booth at the 2019 National Career Development Association (NCDA) and she is taking me through the first step she takes with clients ...

Capitalism

The Financial Literacy Delusion

We need honest narratives about the distribution of wealth

April 27, 2020 • by Agata Soroko

But it’s already happening. The old financial literacy refrains are already here. “The monetary fallout of COVID-19 — business closures, job losses, declines in tax revenue — still is being determined. To recover, we need financial literacy more than ever,” the Richmond Times-Dispatch editorialized earlier this month. Others are already ...

Capitalism

Of Viruses, Distressed Sales, and Stocks’ “Rightful Owners”

Why the current US retirement system and safety net need dynamite

April 23, 2020 • by William Bernstein

As legendary investor Benjamin Graham put it less than a year later in the pages of Forbes, "Those with enterprise haven't the money, and those with money haven't the enterprise, to buy stocks when they are cheap." In other words, those with the will to invest—the “plungers”—had long since run ...

Of Viruses, Distressed Sales, and Stocks’ “Rightful Owners”

Capitalism

CARES Will Care for Wall Street and Big Business

For macroeconomic balance maybe not so much

April 13, 2020 • by Lance Taylor

Support from INET and help from Thomas Ferguson and Özlem Ömer are gratefully acknowledged. To recap from a previous post (Taylor, 2020): The recently approved $2.2 trillion Coronavirus Aid, Relief, and Economic Security “stimulus” (or better, disaster relief) package amounts to ten percent of GDP. This amount is probably well less than the ...

CARES Will Care for Wall Street and Big Business

Capitalism

Time for a Rethink on the Worth of Work

Economists undervalue what we need most now: care workers

April 7, 2020 • by Paulo L. dos Santos

The pandemic poses new and unique economic challenges. It compromises our ability to engage in productive and commercial activities requiring close contact between groups of people—that includes most of the things sustaining a modern economy. Epidemiologists tell us this is needed for several months. Responding in a way that minimizes ...

Capitalism

COVID-19 Hits the Dual Economy

Incomes Destroyed at the Bottom, Profits Supported at the Top

March 30, 2020 • by Lance Taylor

This note presents broad brush illustrations from a simple accounting model of the impacts of the coronavirus epidemic on macroeconomic balance, with emphasis on fiscal interventions. The premise is that supporting effective demand is essential for sustaining economic activity. The COVID-19 epidemic created mass unemployment by shutting activity down. The ...

Capitalism

Conflicting Claims

Race, Capitalism & the Current Crisis: Conundrums for Those Who Envisage a Socialist Future

October 22, 2019 • by Michael C. Dawson

The multiple capitalist crises the U.S. faces today are a result both of the inherent contradictions found within a capitalist social order, and from frictions and contradictions arising out of its articulation with two other systems of domination -- those of patriarchy and white supremacy. These crises have generated extreme ...

Capitalism

The Clerk Problem

An excerpt from Accounting for Capitalism: The World The Clerk Made

October 14, 2019 • by Michael Zakim

The age abounded in loafers. There were literary loafers, Yankee loafers, French loafers, genteel loafers, common loafers, and country loafers— the latter observed by Nathaniel Hawthorne at the Brighton Cattle Fair “wait[ing] for some friend to invite them to drink.” Nevertheless, loaferism was most essentially a metropolitan phenomenon, strolling the ...

Capitalism

The Return of “Capitalism”

And the limits of economics

September 20, 2019 • by William Milberg

As Democratic presidential hopefuls find themselves responding to the questions “are you a socialist?” and “are you a capitalist?,” it is useful to remember that for most of the post-War era, the word capitalism was taboo in economics, the discipline whose very role is to provide rigorous analysis of … ...