Tag Archives: Economic Crisis

Robert Reich: How we became the American Nightmare Economy

Salon: For the past quarter-century I’ve offered in articles, books, and lectures an explanation for why average working people in advanced nations like the United States have failed to gain ground and are under increasing economic stress: Put simply, globalization and technological change have made most of us less competitive. The tasks we used to do can now be done more cheaply by lower-paid workers abroad or by computer-driven machines.

Read more here…

Tagged , ,

Turn the Fed on its Head

I have watched with quiet fascination the evolution/resurgence of alternative politics since the financial meltdown of 2008. In my opinion, we have (at least) two broad camps developing: a Ron Paul brand of libertarianism that seeks to return to a prior vision of capitalism lost, and a new brand of Economic Democrat (often reflected in the Occupy Movement and/or Green Party or the ‘New Economy’ movement) that seeks a balance between capitalism as we know it and the people at large, who are more often than not suffering the brunt of capitalism run amok.

More…

The ideas explored in my article above were initially outlined in my book of essays A World Without War.  But the book is not just about ideas; it’s about a new mindset. A mindset that asks you to find your own individual contribution to society’s problems by wrestling with the big picture — about how culture, politics, economics, media and other social forces can work in concert to influence our behavior. Our problems will not go away. We must collectively work together to find new solutions.
— D.R. Thompson

Tagged , , , , , ,

American’s Wealth Dropped Nearly 40% During Recession

The median family’s net worth dropped 38.8 percent during  the three-year period, the Fed said in its latest report on  changes in U.S. Family Finances, derived from a survey of  consumer finances. Fed economists told reporters that this was  the biggest drop in net worth since the survey started in 1989.

More…

Tagged , , ,
%d bloggers like this: