1

Economic Update – Capitalism, Revolution, and Socialism – 09.24.17

Updates on major capitalist failures, buying senators on health care, opioid addiction’s effects on insurance and on labor force participation, price gouging in emergencies, and US income inequality. Major discussion on 100th anniversary of Russian Revolution in 1917: lessons of USSR economic history for 21st century socialism. Download this episode (right click and save)

1

Chandra Muzaffar – Widening Economic and Social Inequalities, Billionaires Alongside the Global Impoverishment of the Human Family

It is not surprising that the Davos Forum held in the middle of January 2017 chose not to examine the obscene, grotesque, ever widening economic inequalities in the world brought to its attention  by Oxfam, the global aid and development confederation. Oxfam revealed on the 15th of January that “the richest eight tycoons on the planet are worth as much …

1

8 men now own the same as the poorest half of the world: the Davos killer fact just got more deadly

It’s Davos this week, which means it’s time for Oxfam’s latest global ‘killer fact’ on extreme inequality. Since our first calculation in 2014, these have helped get inequality onto the agenda of the global leaders assembled in Switzerland. This year, the grabber of any headlines not devoted to the US presidential inauguration on Friday is that it’s worse than we …

1

JOHN WIGHT – Venezuela on the Brink

The crisis engulfing Venezuela appears to have reached the point of no return. Inflation is heading for 1000% while shortages of food and other essentials are now widespread. It has prompted many to speculate that it is just a matter of time before President Maduro is forced from office and Chavism is consigned to the dustbin of history. The legacy …

1

Crawford Kilian – The End of Capitalism and the End of Our World

Some anonymous wise person once observed that it is easier to imagine the end of the world than the end of capitalism. But Wolfgang Streeck, a 70-year-old German sociologist and director emeritus of the Max Planck Institute for the Study of Societies, thinks capitalism’s end is inevitable and fast approaching. He has no idea what, if anything, will replace it. …

1

Paul Buchheit – How a disappearing and deluded middle class awaits the new president

Disturbing truths about the wealth gap in America have surfaced in recent months. Our nation is breaking in two. Yet downtrodden Americans are hoping for a fairy-tale ending to their misery, instead of demanding the progressive measures that would empower them. Collapse of the Middle Class For every $100 owned by a middle-class household in 2001, that household had just …

1

Deirdre Fulton – Sanders Condemns Obscene Levels of Inequality Documented in New CBO Report

Yet another report, this one from the U.S. Congressional Budget Office (CBO), highlights what many American families already know: The rich keep getting richer, while everyone else keeps struggling to get by. The CBO report, released Thursday and prepared at the request of Sen. Bernie Sanders (I-Vt.), examines trends in family wealth from 1989 to 2013. It found, unsurprisingly, that the …

1

Timothy Scott – Hillary Clinton’s Record: An American Horror Story

This essay documents Hillary Clinton’s history and record as an agent of Wall Street, war, racial violence and inequity, economic inequality and conservative ideology. While Clinton’s early Republican Party history is well documented, it is unfair to judge her (or anyone) based on the political views of her youth. Like Clinton, all people are heavily influenced by the beliefs and …

1

Richard Eskow – Inequality’s Getting Worse. How Do We End This?

On July 1, at the start of the Independence Day weekend, we learned that income inequality in this country became even worse last year. Economic inequality produces scars that last a lifetime – and even longer. That’s one reason why President Obama said in 2013 that “increasing inequality … challenges the very essence of who we are as a people.” Well, that …