New Economy

Five Ways Using Stimulus Funds For Energy Efficiency Would Reduce Inequality and Protect the Planet

March 24, 2020 By Basav Sen, Inequality.org Create! Energy, Inequality, New Economy

I am getting some serious 2008 flashbacks these days. Our economy is going into what could become a serious recession, and our political overlords want to use it as an excuse for even more handouts to big banks, big oil, big airlines, and assorted other industries who already have too much. Meanwhile, communities and workers impacted by the downturn get only “trickle down.”

We Are Entering A Recession – But What Did We Learn From The Last One?

March 24, 2020 Ken-Hou Lin and Megan Neely, Theconversation.com Create! Coronavirus, COVID-19, New Economy, Recession

Ken-Hou Lin receives funding from the National Institutes of Health, the Bill & Melinda Gates Foundation, the Joyce Foundation, and the Institute for New Economic Thinking. Megan Neely does not work for, consult, own shares in or receive funding from any company or organization...

Taxes In A Time Of Coronavirus

March 22, 2020 the Institute on Taxation and Economic Policy. Create! Coronavirus, COVID-19, New Economy, Taxes

Some problems can only be solved when public officials have the resources to act. Today’s public health crisis is that kind of problem. Unfortunately, the Trump administration’s deep tax cuts leave our health infrastructure knee-capped, just when we need it most. This means more Americans will get sick, the economy will suffer more harm, and more people could die. Assertive, smart policy changes can protect us from the worst consequences. Changes to the tax code need to be among them. Here are five policies Congress and the Trump administration should enact to address coronavirus (also called COVID-19) and prepare us for future crises. Crises are inevitable but we have power over our response. The Trump administration’s weak response is making our people and likely our economy sicker. There are consequences to destroying our shared capacity to confront problems. We’re about to learn how deep. The current disaster threatens our health and our economy. Ongoing crises stem from fast-accelerating climate change, skyrocketing inequality, and inadequate federal response to both.

In Light Of The Global Pandemic, Focus Attention On The People.

March 22, 2020 Vijay Prashad, Tricontinental: Institute for Social Research. Create! Coronavirus, COVID-19, Human Rights, New Economy

SARS-CoV-2 or COVID19, now declared a global pandemic by the World Health Organisation, has begun to wreak havoc in large parts of the world, with other parts waiting in anticipation. We are in a real struggle, which needs total mobilisation; a struggle that needs to put life before profit. We will only win this struggle – as China has already done – if our people are united and disciplined, if governments earn our respect by their actions, and if we act in solidarity across the globe. Global debt is at $250 trillion, with corporate debt already enormous. On the other hand, there are trillions of dollars swirling around stock markets and in tax havens. As economic activity contracts, corporations will line up for bailouts; this is not the best use of precious human resources in this time.

We Can’t Let This Economic Crisis Go To Waste

March 22, 2020 Thomas M. Hanna and Carlos Santos Skandier, Open Democracy. Create! Coronavirus, COVID-19, New Economy, Recession

The rapid spread of COVID-19, or the coronavirus as it is commonly known, has heightened economic fears and anxiety around the world. On Thursday March 12, US stock markets saw their biggest single day losses since Black Monday in 1987 and three days later the Federal Reserve announced that it would be cutting its benchmark interest rate to effectively zero and restarting its Quantitative Easing program. With businesses and whole cities shut down for the foreseeable future, a full-blown financial crisis is not out of the question and many analysts now see a recession later this year as an inevitability. As was the case during the last major financial crisis 12 years ago, the Trump administration appears to be considering and readying a wide range of government interventions to prop up collapsing markets and failing industries.

Towards Democratic Public Ownership In The 21st Century

March 19, 2020 Mathew Lawrence & Thomas M. Hanna, Common-wealth.co.uk Create! New Economy, Property, Public ownership

Our current political economic system is in crisis. Forty years of market fundamentalism, privatisation, and unchecked corporate power have led us to the point of ecological collapse, increasing economic and social inequality, and dangerous political instability and backlash. Driven by the system’s failings, and the real pain being felt by workers and communities across the world...

Coronavirus, Economic Networks, And Social Fabric

March 15, 2020 Richard Heinberg, Resilience.org. Create! Coronavirus, COVID-19, Local Economy, New Economy, Recession

The COVID-19 pandemic offers intriguing insights into how networked our modern world has become, and how we’ve traded resilience for economic efficiency. Case in point: someone gets sick in China in December of 2019, and by March of 2020 the US shale oil industry is teetering on the brink. What set off this unraveling? It was China’s deliberate—and arguably necessary—pull-back from economic connectivity. This tells us something useful about networked systems: unless there is a lot of redundancy built into them, any one node in the network can affect others. If it’s an important node (China has become the center of world manufacturing), it can disrupt the entire system. What would redundancy actually mean?

The End Of The Corporation?

March 10, 2020 By Marjorie Kelly, Longreads.tni.org Create! Corporations, New Economy, Profit

Imagine your town is crisscrossed by giant trains that travel insanely fast, because the train owners pay their drivers based on speed. The town establishes speed limits, installs flashing lights, brings out police to keep pedestrians off the tracks. Inevitably, the trains continue to crash into people and cars, causing injury and death. How does the town council respond? By repairing crossings and fences.

Building A Community: Manufactured Home Residents Go Co-Op

March 5, 2020 Maureen Milliken, Mainebiz.biz Create! Cooperatives, New Economy

When residents at Charter Oaks Village, a manufactured home community on the Biddeford-Arundel line, got a letter a year ago saying the property was going to be sold, it was a punch in the gut. It was the second time in less than a year the residents of the 40-site property on Route 111 had received such a letter.

Is It Really Possible To Go ‘Plastic Free’? This Town Is Showing The World How.

March 5, 2020 Anna Turns, Huffpost.com Create! Europe, New Economy, Plastic, United Kingdom (UK)

PENZANCE, ENGLAND – As waves crash against the art deco wall of Jubilee Pool in the one of the country’s most westerly coastal towns, Sam Dean is talking about single-use plastics. Specifically, how to wean people off them. Dean is the food and beverage manager of the Jubilee Pool Café, which calls itself a ”single use plastic free venue.” Customers will find no plastic straws, cups or cutlery here.

Jeffrey Sterling: Assange Case Shows USA Will Use Any Method To Quiet Dissent

March 4, 2020 Staff, Rt.com Organize! Julian Assange, New Economy, Whistleblowers

On this episode of Going Underground, we speak to CIA Whistleblower Jeffrey Sterling, who was convicted for revealing details about Operation Merlin. He discusses the extradition trial and persecution Julian Assange is facing, his own experience of being prosecuted –on circumstantial evidence– for whistleblowing, whether the WikiLeaks founder would face a fair trial in Virginia...

Wage Inequality Continues To Rise As Racial And Gender Disparities Persist

March 4, 2020 Staff , Epi.org Educate! Inequality, New Economy, Racism, Sexism, Wage

Wage growth was strongest for the highest-wage workers while median hourly wages grew just 1.0% last year, according to a new EPI report. State of Working America Wages 2019 details the most recent hourly wage trends through 2019, showing that large gaps by gender, race, wage, and education level remain—and some of these gaps are increasing.

Why Should You Care About The UCSC Strike?

February 26, 2020 By Nick Slater, Current Affairs Resist! New Economy, Strike, Student Activism

Last December, hundreds of graduate students at the University of California-Santa Cruz (UCSC) voted to go on strike. Their sole demand was a cost of living adjustment (COLA) to their monthly stipend. Santa Cruz, a tech hub near Silicon Valley and San Jose, gets more expensive every year. The current base stipend—which comes out to roughly $21,906 per year—is not nearly enough to live on. A 2017 survey found that a grad student in the Santa Cruz area would need at least $32,000 to make it through the year on a barebones budget.

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