Finance and the Economy

Real Power: Reflections On Participatory Budgeting

December 4, 2016 Eric Dirnbach, , www.publicseminar.org Create! Finance and the Economy, Participatory budgeting, Participatory Democracy, Urban

By Eric Dirnbach for Public Seminar. Participatory Budgeting was first used for the municipal budget in Porto Alegre, Brazil in 1989, and since then the PB movement has grown to over 3,000 cities around the world. Portugal recently announcedthat it will use it for the national budget. PB is being used in more than 40 communities in the U.S. New York City is in the midst of its 6th cycle of PB and the program has grown to 31 out of 51 City Council districts. Each district has been allocated at least $1 million for proposed projects. The requirements are that each project cost at least $35,000, last 5 years, be located on city property, and be brick-and-mortar type infrastructure projects such as fixing up a playground or library. I voted in the final PB project selection last year. My district had been presented with 21 options, and chose five projects from among them: a senior center renovation, planting street trees, school science lab improvements, school technology upgrades, and a library renovation. When my City Council Member Mark Levine announced the beginning of this current PB round, I decided to follow the entire process.

Steve Mnuchin: Evictor, Forecloser, And Our New Treasury Secretary

December 1, 2016 Peter Dreier, www.prospect.org Educate! Donald Trump, Finance and the Economy, Treasury

By Peter Dreier for The American Prospect - Throughout his presidential campaign, Donald Trump criticized Wall Street bankers for their excessive political influence and attacked hedge-fund managers for getting away with “murder” under the current tax code. “The hedge-fund guys didn’t build this country,” Trump said on Face the Nation. “These are guys that shift paper around and they get lucky.” Now, however, Trump has tapped Steve Mnuchin, a 53-year-old Wall Street hedge-fund and banking mogul—and, since May, his campaign-finance chair—to be the nation’s secretary of the Treasury. Trump’s earlier rhetoric aside, it’s actually a good match.

Trump Picks Staunch Opponents Of Net Neutrality To Oversee FCC

November 22, 2016 Aaron Pressman, www.fortune.com Resist! Capitalism, FCC, Finance and the Economy, Net Neutrality, Ruling Class

By Aaron Pressman for Fortune - President-elect Donald Trump formally named two staunch opponents of net neutrality to oversee his policies for the agency that created the rules to prevent discrimination against Internet sites and online services. Jeff Eisenach, an economist who has been on Verizon’s payroll, and Mark Jamison, who formerly worked on Sprint’s lobbying team and now heads the University of Florida’s Public Utility Research Center, on Monday were named to Trump’s “agency landing team” for the Federal Communications Commission.

15 Indigenous Struggles You Need To Know About

October 23, 2016 Intercontinentnal Cry, www.intercontinentalcry.org Educate! Finance and the Economy, Governance, Indigenous Peoples, Indigenous Rights, Land

By Intercontinental Cry Magazine. Despite making up a tiny fraction of the world's population, Indigenous Peoples hold ancestral rights to some 65 percent of the planet. This poignant fact speaks well to the enormous role that Indigenous Peoples play not only as environmental stewards, but as political actors on the global stage. We're seeing that role play out right now on the Standing Rock Sioux reservation in North Dakota; but there are hundreds of other indigenous struggles just like that almost never make headlines. All over the world today, Indigenous Peoples are confronting the destructive practices of industry—leading the charge against climate change while defending the lakes, forests and food systems that all of us depend on. At the same time, they are blocking governments from weakening basic rights and freedoms and turning to the courts of the world to correct over 500 years of historical wrongs.

New Economic Vision: Amish Culture, Occupy & Start-Ups

September 5, 2016 Alexa Clay, www.nationofchange.org Create! Community, Finance and the Economy, Intersectionality, Occupy

By Alexa Clay for Nation of Change. If markets and industrial production have become separated from society and community, the task now seems to be figuring out how to envelop production within community. Localizing production in community might lead to a certain sacrifice of market efficiency, but would also offer greater flexibility and enhanced quality of life, and would strengthen social ties and community resilience. Ultimately, to reimagine production, we have a variety of models to choose from. Culture is no longer contingent on particular ethnographic contexts. Rather, practices from indigenous peoples, protest movements, entrepreneurial startup hubs, intentional communities, and even religious traditions require remixing by emergent forms of community around the world. While this remixing might feel like a consumerist “pick and choose” approach, it’s also one of the quickest pathways I’ve identified for accelerating social change and building more resilient local economies and communities. Designing community around cultural hybridity gives us a much broader diversity from which to organize ourselves and foster a greater sense of belonging for very different types of people.

It Is Time To Erase Debts And Restart The Economy, Create Jobs

August 6, 2016 Mike Krauss, www.truthdig.com Create! Debt, Finance and the Economy, Workers Rights and Jobs

By Mike Krauss for Truth Dig - So far, neither Donald Trump nor Hillary Clinton has offered a credible plan to restart the long-stalled U.S. economy. Trump favors lowering taxes to spur demand, a reduction in the supply of illegal foreign labor to boost wages, and modifying trade policy to encourage investment in U.S. manufacturing and create better-paying jobs. He also touts an unspecified infrastructure investment. Some argue that this approach will not provide jobs in the magnitude required, and will likely increase the federal deficit.

Poverty Has Always Accompanied Capitalism

July 10, 2016 Mark Karlin, www.truthout.org Educate! Capitalism, Finance and the Economy, Poverty, Socialism

By Mark Karlin for Truthout. What economic theory Americans learn comes mostly - directly or indirectly - from college and university teachers: their classes, the textbooks they write, the journalists and politicians shaped by them, etc. The substance of the mainstream economics delivered in these ways is this: economics is a basic science that explains how the economy works. By "the economy" is meant modern capitalism as if (1) nothing else, no other system, was of interest today (other than for historians) and (2) no alternative ways of theorizing, thinking about economies, exist or are worth considering. Indeed, most mainstream textbooks have the word "economics" in their title as if no differentiating adjective (such as neoclassical or Marxist etc.) needs to be added to let readers know which among alternative theories was being used by the author.

Slavery As Free Trade

July 3, 2016 Blake Smith, www.aeon.co Educate! Europe, Finance and the Economy, Free Trade, Slavery

By Blake Smith for Aeon. For nearly four centuries, the Atlantic slave trade brought millions of people into bondage. Scholars estimate that around 1.5 million people perished in the brutal middle passage across the Atlantic. The slave trade linked Africa, Europe and the Americas in a horrific enterprise of death and torture and profit. Yet, in the middle of the 18th century, as the slave trade boomed like never before, some notable European observers saw it as a model of free enterprise and indeed of ‘liberty’ itself. They were not slave traders or slave-ship captains but economic thinkers, and very influential ones. They were a pioneering group of economic thinkers committed to the principle oflaissez-faire: a term they themselves coined. United around the French official Vincent de Gournay (1712-1759), they were among the first European intellectuals to argue for limitations on government intervention in the economy. They organised campaigns for the deregulation of domestic and international trade, and they made the slave trade a key piece of evidence in their arguments.

Newsletter: Real History Of Revolution

July 2, 2016 Kevin Zeese and Margaret Flowers, www.popularresistance.org Newsletter Austerity, Colonialism, Declaration of Independence, Democracy, Finance and the Economy, Fourth of July, Independence, Indigenous People, Neo-Liberalism, Nonviolence, Slavery, Wars and Militarism

By Kevin Zeese and Margaret Flowers. Official holidays in the United States tend to reinforce false historical narratives. The Fourth of July is one of those holidays and what the official story misses is the reality that must be told. During the decade before the Revolutionary War, colonists ran one of the most effective nonviolence resistance campaigns against corporate power in history. Rivera Sun describes this campaign of nonviolent actions by showing that many of the tactics people attribute to Mahatma Gandhi, Martin Luther King, Jr. and other modern activists were used in an effective campaign by the colonists including boycotts of British goods, replacing them with their own goods; refusing to cooperate with unjust laws, non-payment of taxes, the development of parallel governments and local assemblies as well as rallies, petitions, marches and protests.

71% Of Americans Anxious About Rigged Economy Agaisnt Them

June 28, 2016 Andrea Seabrook, www.marketplace.org Educate! Economic inequality, Finance and the Economy

By Andrea Seabrook of Market Place - Welcome to the post-Brexit world – a global economic outlook more uncertain than ever. Before we all go raising alarms though, remember: many of the economic fundamentals in the American economy are strong. Still, there have been signs of economic uncertainty. The Fed’s being cautious on interest rates. The May unemployment report showed poor job growth. And on the campaign trail, the talk is about economic fairness and jobs lost to trade deals.

‘Stockbroker’s Bible’ Just Told Oil Industry To Accept Its Demise

May 30, 2016 Alexander C. Kaufman, www.huffingtonpost.com Educate! Finance and the Economy, Oil

By Alexander C. Kaufman for The Huffington Post - The editorial board of the Financial Times isn’t exactly stacked with bleeding-hearted environmentalists. Just a month ago, the British paper defendedExxonMobil’s right to question climate change amid legal probes into whether the oil giant covered up evidence of global warming. But in an editorial published Saturday, the FT urged the oil industry to “face a future of slow and steady decline.”

Trump’s “Reckless” Proposal Echoes Franklin And Lincoln

May 16, 2016 Ellen Brown, Chris Hedges, www.ellenbrown.com Educate! Finance and the Economy, Money

By Ellen Brown for Web of Debt - “Reckless,” “alarming,” “disastrous,” “swashbuckling,” “playing with fire,” “crazy talk,” “lost in a forest of nonsense”: these are a few of the labels applied by media commentators to Donald Trump’s latest proposal for dealing with the federal debt. On Monday, May 9th, the presumptive Republican presidential candidate said on CNN, “You print the money.” The remark was in response to a firestorm created the previous week, when Trump was asked if the US should pay its debt in full or possibly negotiate partial repayment.

Is The US Economy Heading For Recession?

May 15, 2016 Jack Rasmus, www.telesurtv.net Educate! Finance and the Economy, Recession

By Jack Rasmus for Telesur. This past week the U.S. government announced the contry’s economy rose in the January-March 2016 at a mere 0.5 percent annual growth rate. Since the U.S., unlike other countries, estimates its GDP based on annual rates, that means for the first quarter 2016 the U.S. economy grew by barely 0.1 percent over the previous quarter in late 2015. Growth this slow indicates the US economy may have “slipped into ‘stall speed’, that is, growth so weak that the economy loses enough momentum and slides into recession”, according to economists at JPMorgan Chase. Has the U.S. economy therefore come to a halt the past three months? If so, what are the consequences for a global economy already progressively slowing? What will an apparently stagnating US economy mean for Japan, already experiencing its fifth recession since 2008?

Venezuela Charges US: Undermined Meeting To Stabilize Oil Prices

April 24, 2016 Rachael Boothroyd Rojas, www.venezuelanalysis.com Educate! Finance and the Economy, Oil and Gas, US Empire, Venezuela

By Rachael Boothroyd Rojas for Venezuelanalysis. Caracas, April 20th 2016 (venezuelanalysis.com) - Venezuelan Oil and Mining Minister Euologio del Pino has accused the US government of deliberately scuppering the efforts of major oil-producing countries to put a cap on global production levels amidst a historic slump in oil prices. Referring to a major meeting convened between an array of 18 OPEC and non-OPEC countries in Doha on April 17th, Del Pino stated that the US had deliberately put pressure on countries not to attend, as well as to adopt hardline positions against the proposed measures. “This political agenda is against our country… because it is supposed that by maintaining low oil prices, they will bring the downfall of Venezuela,” said the minister on Tuesday.

“Gig Economy”; Another Vicious Attack On Ordinary Working Slobs

April 8, 2016 Mike Whitney, www.counterpunch.org Educate! Finance and the Economy, Jobs, Workers Rights and Jobs

By Mike Whitney for Counter Punch - “Contrary to the rising-tide hypothesis, the rising tide has only lifted the large yachts, while many of the smaller boats have been dashed on the rocks.” Joseph Stiglitz, economist American plutocrats and their political lackeys in congress have implemented a plan that’s putting pressure on wages and further decimating the already-battered middle class. By sustaining high levels of unemployment over a long period of time, US elites have “restructured the labor force”...

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