This article originally appeared at Truth-out.org
Capitalism as a system seems incapable of solving its unemployment problem. It keeps generating long-term joblessness, punctuated by spikes of recurring short-term extreme joblessness. The system's leaders cannot solve or overcome the problem. Before the latest capitalist crisis hit in 2007, the unemployment rate was near 5 percent. In 2013, it is near 7.5 percent. That is 50 percent higher despite the last six years of so-called "effective policies to address unemployment."
- Published on November 12, 2013VIDEO
Updates on major economic events in the news over the last month. Major attention is devoted to the following:The federal government’s austerity policy, compromises with the Republicans over social security, medicare, Obamacare, etc. The state and local governments’ austerity policies (summary of a major new report on state and local cutbacks) How and why changes in federal, state and local taxes could remove the need for austerity and achieve tax justice.
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- Published on November 10, 2013AUDIO
Updates on big bank's manipulation of foreign exchange market, Ireland pays for bank bailouts, big pharma guilty of "recklessly endangering health, new book on US poverty. Major discussions of economics education as Manchester University students protest, unemployment and falling share of labor in total national income. Response to frustrated listener's question about obstacles to needed change with focus on DiBlasio mayoral victory in New York and Richmond, CA mayor's use of eminent domain.
- Here's How the Capitalist Scam Works: Let Government Borrow For Crisis Bailouts, Then Insist Cuts Pay For Them. Guess Who Loses?Published on November 4, 2013
This article originally appeared at The Guardian.
Barack Obama speaking in March 2013 about the sequester, the automatic spending cuts mandated by Congress. Photograph: Carolyn Kaster/AP
- Published on November 3, 2013AUDIO
Updates on Goldman Sachs charity/PR, bank scandals, housing "recovery" exposed, suicides rise in Kansas, and Benedictine Nun leads new anti-austerity party in Catalonia. Major discussions of public banking (as in North Dakota) and the basic analysis of continuing "austerity" policies around the world. Response to questions on nature, impact, and injustice of US property taxes.
- Published on October 27, 2013VIDEO
Professor Rick Wolff explains why growth has become a focus of our modern political system. He describes how inequality is created by the way our enterprises are organized.
- Published on October 27, 2013AUDIO
Updates on big banks' misdeeds, inadequate health care, the social costs of low wages, and Nobel prizes in economics. Major discussions about poverty and education and important economic events on Bolivia (workers taking over enterprises), Spain (indignados form new political Party X), and China (raising value of yuan to change China's and world's economy). Response to questions on (1) how Great Recession affects retirees and retirement, and (2) latest data on the highest incomes in US.