The New Normal: Demand, Secular Stagnation and the Vanishing Middle-Class

By Servaas Storm, The Great Financial Crisis of 2008 deeply scarred the U.S. economy, bringing nine dire years of economic stagnation, high and rising inequalities in income and wealth, steep levels of indebtedness, and mounting uncertainty about jobs and incomes. Big parts of the U.S. were hit by elevated rates of depression, drug addiction and ‘deaths … More The New Normal: Demand, Secular Stagnation and the Vanishing Middle-Class

Austerity never ends: Orthodox Economists say wages are too high

Originally posted on Systemic Disorder:
No, you can’t really make this stuff up: Orthodox economists continue to tell us that the reason for ongoing economic stagnation is that wages and unemployment benefits are too high. Yes, that’s right. You haven’t suffered enough. Given that orthodox economics (or “neoclassical” or Chicago School, if you prefer alternate…

LaborNotes: Building an Army to Fight Runaway Inequality

  How can unions help create a social movement to take on Wall Street’s economic and political dominance? That’s the question that the Communications Workers (CWA) are tackling with labor educator Les Leopold. The training program they’ve put together, based on his book Runaway Inequality: An Activist’s Guide to Economic Justice, has already reached hundreds … More LaborNotes: Building an Army to Fight Runaway Inequality

Inequality Update: Who Gains When Income Grows?

By Pavlina R. Tcherneva Since the 1980s, economic recoveries in the United States have been delivering the vast majority of income growth to the wealthiest households. Little has changed when considering the distribution of average income growth in the current recovery (up to 2015) between the bottom 90 percent and top 10 percent of families, … More Inequality Update: Who Gains When Income Grows?

EPI: Low-wage African American workers have increased annual work hours most since 1979

by Valerie Wilson & Janelle Jones Over the last several decades, black workers have been offering more to the economy and the labor market to incredibly disappointing results in pay and unemployment. Some have argued that the disparity in wages between blacks and white is the result of white workers working longer and harder than … More EPI: Low-wage African American workers have increased annual work hours most since 1979