From Routledge: A growing inequality in income and wealth marks modern capitalism, and it negatively affects nearly every aspect of our lives, especially those of the working class. It is and will continue to be the central issue of politics in almost every nation on earth. In this book, the author explains inequality in clear,… More New book by Michael D. Yates: The Great Inequality
From Dollars & Sense: […] Kenneth Thorpe’s expertise and reputation have added weight and authority to his attack on Senator Sanders’ program for Medicare-for-All. This makes it all the more important that his analysis receive the type of scrutiny due a serious policy proposal. Unfortunately, Kenneth Thorpe does not provide enough documentation to make an… More Gerald Friedman Responds to Kenneth Thorpe on Single-Payer
The US economy added 151,000 jobs in January. There were largely, however, offsetting revisions to the prior two months data, leaving the average change over the last three months at 231,000. For more on this, see Dean Baker’s take here Mind you, as Matias Vernengo notes here, inflation does not seem to have picked up…the… More US Economy Adds 151,000 Jobs in January
From Harvard University Press: David Kotz argues that the ongoing economic crisis is not simply the aftermath of financial panic and an unusually severe recession but instead is a structural crisis of neoliberal, or free-market, capitalism. Consequently, continuing stagnation cannot be resolved by policy measures alone. It requires major institutional restructuring. Kotz analyzes the reasons… More New Book By David M. Kotz: The Rise and Fall of Neoliberal Capitalism
This figure demonstrates that, as with the unemployment rate, the underemployment rate is much higher for people of color. While workers with lower levels of education have higher levels of underemployment, those with higher levels of education still have elevated levels. Nevertheless, the asymmetry concerning unemployment has been present for long period of time:
Low Visibility: The Fate of Air Traffic Control Privatization By Max B. Sawicky From the abstract: Notwithstanding a creditable safety record, the Federal Aviation Administration is under fire for mismanagement, particularly in the field of technology modernization. The airline trade association “Airlines for America” (“A4A”) and its member carriers are calling for separation of the… More New CEPR Paper by Max B. Sawicky on Air Traffic Control Privatization
The newsletter of the Union for Radical Political Economics has been published. See here. Be sure to check our Open Letter of Support for Academics under Attack in Turkey (more on the situation in Turkey will be posted to this blog shortly.
Soon the blog will be more operational with David Fields, my co-blogger at Naked Keynesianism, posting on a regular basis here. And yes, it has not been weekly in a while. At any rate, if you have any doubts who has benefited from the recovery. Source here.
The new issue of the Credit Suisse Global Wealth Report (2015) has been published. Below the distribution of global wealth. Nothing changed much since we posted the previous version here. As I commented regarding the previous version, the poor are fundamentally in Africa, India, and Asia-Pacific (mainly Bangladesh, Indonesia, Pakistan, and Vietnam), while the wealthy… More Graph/Table of the Week/Global Wealth Inequality
The graph comes from Mike Konczal’s review of Naomi Murakawa’s The First Civil Right: How Liberals Built Prison America in Dissent. The book disscusses the role of Liberal (in the American sense of the word) role in the rise of prison population.