New Economy

With Alexandria Ocasio-Cortez, Americans Finally Have A Politician Who Agrees With Them About Taxes

January 26, 2019 By Jon Schwarz, Theintercept.com Educate! Alexandria Ocasio-Cortez, Electoral Politics, New Economy, Taxes

MUCH OF THE U.S. political system was flummoxed two weeks ago when a brand new 29-year-old congressperson made a seemingly radical proposal on “60 Minutes.” Here’s what Rep. Alexandria Ocasio-Cortez, D-N.Y., said that wound everyone up: The U.S. should tax income over $10 million per year at a top rate of 60 or 70 percent. Republicans responded by shamelessly lying about what this meant, pretending that Ocasio-Cortez was advocating a tax rate of 70 percent on all income. Some older Democrats, such as House Majority Leader Steny Hoyer and former Senate Majority Leader Harry Reid, adopted the standard Democratic tactic of cowering in fear before a deceptive Republican onslaught, like abused dogs.

After 3 Decades, Privatization Has Been Proven A Failure. Let’s Bury It For Good.

January 24, 2019 Jeremy Mohler, Inthesetimes.com Educate! New Economy, Ownership, Privatization

New York Rep. Alexandria Ocasio-Cortez’s suggestion to raise the top marginal tax rate to 70 percent has reignited a long overdue debate about taxation. The idea that lower taxes on corporations and the wealthy is key to a healthy economy—known as “trickle-down economics”—has been the mainstream political consensus since the 1980s. By explaining that massively increasing taxes on the super-rich can help fund social programs like Medicare for All, tuition-free college, a jobs guarantee and a Green New Deal, Ocasio-Cortez has rightly disrupted the politics of austerity that has dominated both major political parties for decades.

Can Cooperatives Save Us From The Next Economic Crisis?

January 24, 2019 By Laura Flanders, Truthout.org Strategize! Cooperatives, Crisis, Economic collapse, New Economy

In the summer of 2009, economists reported that one-third of the capital equipment in the United States stood idle while some 17 percent of the workforce were either unemployed, forced into part-time jobs, or “discouraged” from even seeking work. The Great Recession revealed just how much surplus capital and surplus labor was simply lying about, even in a time of urgent need. In this context, it’s no surprise that people started looking for ways to put labor and capital back together. Interest spiked — especially in worker-owned enterprises — and cities from New York to Madison, Oakland and Jackson, started investing in worker-owned businesses and business incubators.

2019 Is The Year To Embrace Energy Democracy – Or Face Social And Climate Breakdown

January 21, 2019 Susann Scherarth and Sean Sweeney, Opendemocracy.net Strategize! Climate Change, Energy, New Economy

2018 was a thunderous year for the climate which gave us a glimpse of the new normal: record-breaking heat, a blazing Arctic, the northern hemisphere seemingly on fire. These, alongside a clanging alarm about the disastrous impacts of 1.5°C of global warming from the UN in October, contributed to growing public recognition that climate breakdown is very real and its effects serious. 2018 also saw growing momentum for climate movements in confronting political inaction. From the Extinction Rebellion movement in the UK, to thousands of school children on strike in Australia (and similar movements elsewhere). Climate demonstrations in Europe bigger than ever.

Bar Barr Or Regret This Dictatorial Attorney General

January 21, 2019 Ralph Nader, Nader.org Resist! Attorney General, New Economy, Trump Administration

Many Senate Democrats are throwing in the towel on the nomination of William Barr for Trump’s Attorney General (a prospect assured by Senate minority leader, Chuck Schumer, declaring his personal vote against Barr). Let’s ask why? One would think that Senate Democrats would be appalled at Barr’s long-time unyielding conduct and writings asserting that the President can start any wars he wants even if Congress votes against it! An example of this is the constitutionally undeclared criminal invasion of Iraq by George W. Bush. Barr was also George H.W. Bush’s Attorney General and has been a long-time defender of executive branch lawlessness.

Recycling Is Not Enough. Zero-Packaging Stores Show We Can Kick Our Plastic Addiction

January 18, 2019 Sabrina Chakori and Ammar Abdul Aziz, Nationofchange.org Create! New Economy, Plastic, Recycling

Zero-packaging stores show, in their own small way, a viable and healthier alternative to the current system. Both for ourselves, local economies and the planet. Wrapped, sealed, boxed, cling-filmed and vacuum packed. We have become used to consumables being packaged in every way imaginable. The history of “packaging” goes back to the first human settlements. First leaves, gourds and animals skins were used. Then ceramics, glass and tin. Then paper and cardboard. But with the invention of plastic and the celebration of “throwaway living” since the 1950s, the environmental costs of an overpackaged world have become manifest.

More Signs The US Is Losing Status As Global Reserve Currency

January 14, 2019 Staff, RT Educate! Chiina, Currency, India, Iran, New Economy, Reserve Currency, Russia

The US dollar may one day be rivaled by the Chinese national currency – the yuan – which is likely to become a major global reserve currency, according to the governor of the Bank of England (BoE), Mark Carney. “I think it is likely that we will ultimately have reserve currencies other than the US dollar,” the UK top financial official claimed during an online question-and-answer session carried out as part of the Bank of England’s Future Forum.

The 2018 Retail Apocalypse, In 6 Charts And A Map

January 14, 2019 David Montgomery, Citylab.com Educate! Economics, New Economy

One of the big trends of 2017 was the ongoing “retail apocalypse,” the apparent disaster of declining sales and store closures facing brick-and-mortar retailers. Well, 2018 was more of the same. One year after rounds of store closures by J.C. Penney and Macy’s, 2018 brought shutdowns by Sears and Toys “R” Us—not to mention Mattress Firm, Bon-Ton, Abercrombie & Fitch and more. But just how apocalyptic is this retail apocalypse? CityLab took a closer look at the data and found a much more ambiguous picture than the headlines might suggest.

Interview: Fight For Promised Peace Dividend

January 13, 2019 Ron Ridenour, Greanville Post. Create! New Economy, Peace, Peace Dividend

In 1992 with the collapse of the Soviet Union the citizens of the United States and the world were promised the arrival of a new era of peace and prosperity. The Cold War was over. Much of the money spent in the military standoff with the Soviets, and the preparation for a cataclysmic war, would now be diverted to peaceful ends. This massive reordering of our priorities and the windfall which would result was called the peace dividend (2). It never arrived. I know the Peace Dividend proposal is an outrageous, unprecedented, completely outside-the-box idea. That is entirely intentional.

Tax The Rich? History Proves Alexandria Ocasio-Cortez May Be Correct

January 12, 2019 By David Schultz, Counterpunch.org Create! Electoral Politics, New Economy, Reform, Taxes

Taxes impede economic growth and high taxes kill the economy, right?. This is the belief among many who criticize Representative Alexandria Ocasio-Cortez’s proposal to raise taxes on the wealthy to 70% or more. But what does the evidence really tell us? Do high taxes really hurt the economy as much as they believe, and will lowering them have much of an impact on stimulating it? The economic literature is clear — tax breaks to encourage economic relocation or investment decisions are inefficient and wasteful. Hundreds of studies reach this conclusion. When businesses are surveyed regarding factors important to their investment decisions, taxes often come in behind proximity to markets, suppliers, and the quality of the labor force.

Shutoffs Continue As The People Of Detroit Fight For Water As A Human Right

January 12, 2019 By Simon Albaugh, Occupy.com Resist! Detroit, Human Rights, New Economy, Water

Step onto downtown Detroit’s tiled sidewalks past the Kern Clock Tower and storefront restaurants and you’ll find Campus Martius. This small park at the center of the greatest comeback story in post-industrial America has become a symbol for life continuing after ruin. Climb into your car and drive down Woodward Avenue. Hear the bell of the QLine cars and the vibrant nightlife of the restaurants, clubs and concert halls. These are what leaders call signs of economic progress in a major city that the State of Michigan can finally take pride in. Now take a turn down any of the major bisecting streets. Drive past the Eastern Market or Wayne State University.

Trump’s Deja Vu China Trade War (Part I)

January 12, 2019 Staff, Jackrasmus.com Educate! China, Inter-Imperialist Rivalry, New Economy, Trump Administration

“Trade War! Trade War! When Trump pre-announced on March 2 his plan to impose tariffs on steel and aluminum imports, the mainstream press immediately began hyping the line that trade war was looming on the horizon. Panicking, investors ran like lemmings over the stock market cliff after the steel tariff announcement; US allies huffed and puffed, promising tit-for-tat tariff responses on US agricultural goods or commercial aircraft; Trump’s traditional elite advisors, like Gary Cohn, former CEO of Goldman Sachs investment bank and head of Trump’s economic council, resigned later that week—no doubt in part due to frustration and disagreement over Trump’s unilaterally announced tariff.

The Commons, The State And The Public: A Latin American Perspective

January 11, 2019 Daniel Chavez, Tni.org Educate! Economics, Ideology, Latin America, New Economy

In recent years, many researchers and social activists from very different countries, like myself, have rediscovered the notion of the commons as a key idea to deepen social and environmental justice and democratise both politics and the economy. This reappropriation has meant questioning the vanguardist and hierarchical visions, structures and practices that for too long have characterised much of the left. This concept has resurfaced in parallel with the growing distrust in the market and the state as the main suppliers or guarantors of access to essential goods and services. The combined pressures of climate change and the crisis of capitalism that exploded in 2008...

Do We Really Need Billionaires?

January 11, 2019 By Lawrence Wittner, Historynewsnetwork.org Educate! Inequality, New Economy, Ruling Class

In March 2018, Forbes reported that it had identified 2,208 billionaires from 72 countries and territories. Collectively, this group was worth $9.1 trillion, an increase in wealth of 18 percent since the preceding year. Americans led the way with a record 585 billionaires, followed by mainland China which, despite its professed commitment to Communism, had a record 373. According to a Yahoo Finance report in late November 2018, the wealth of U.S. billionaires increased by 12 percent during 2017, while that of Chinese billionaires grew by 39 percent. These vast fortunes were created much like those amassed by the Robber Barons of the late nineteenth century.

Degeneration And Regeneration In Worker Cooperatives

January 11, 2019 Tim Armstrong, Geo.coop Create! Capitalism, Cooperatives, New Economy, Reform

Like all businesses, cooperatives can fail. Cooperatives can go bankrupt, but they can fail in another way too. Over time, cooperatives can degenerate. Cooperatives are said to degenerate when, under economic pressure, they abandon their cooperative principles and start adopting capitalist business practices and structures. In the worst case, given enough time and economic pressure, cooperatives can fully degenerate into privately-owned, capitalist businesses. Such businesses might still be economically viable ― they will have avoided bankruptcy ― but they can no longer be considered successful cooperatives.

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