Obama’s No FDR, But He’s Made the Case for a “New” New Deal

obama girl lincoln

Ira Chernus: No matter who the Republicans nominate to run against Barack Obama, it seems clear that we’ll have a kind of presidential contest we haven’t seen in more than seventy-five years: a referendum on the government’s proper role in economic life.

Uncle Sam Making Wrong Choices

ukiah post office

Norman Solomon: Only government has the capacity to provide economic remedies for social distress of this magnitude. But government is failing.

Time for an Economic Bill of Rights

america's economy

Ellen Brown: What was sufficient for a simple agrarian economy does not provide an adequate framework for freedom and democracy today. We need an Economic Bill of Rights, and we need to end the privatization of the national currency.

Why Occupying Detroit Is Harder Than It Seems

occupy detroit

Rachel Burstein: For many, participating in Occupy Detroit may appear to mean cutting off the hand that feeds them—and failing to address the structural issues underlying Detroit’s poor economic state.

When We All Are Doing Better

occupy wall street

Carl Bloice: Greed is rampant, poverty and economic inequality are growing relentlessly in our country and our political system is ever increasingly corrupted by money. The system is in trouble.

Is Consumer Capitalism Outdated?

Walter Moss: If consumer capitalism is indeed replaced by a new economic structure, many capitalist bricks may still be needed for any new construction. Whether we choose to attempt new building or just apply a little patching here or there is up to us.

The Seven Biggest Economic Lies

class warfare

Robert Reich: Here’s a short effort to rebut the seven biggest whoppers now being told by those who want to take America backwards.

Inequality: The Real Cause of America’s Economic Woes

GOP-and-CEO-pay-wide

Robert Reich: During periods when the very rich took home a much smaller proportion of total income — as in the Great Prosperity between 1947 and 1977 — the nation as a whole grew faster and median wages surged.

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How Not To Talk About Financial Panics: New Rules For Pundits

economy-sinking

James Livingston: Never act like you know what will happen next. You don’t, and nobody else does either. In fact, nobody knows what just happened.

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Don’t Let Doom Merchants Obscure True European Picture

european debt wave

Steven Hill: Fearful headlines hide success stories such as Poland, which show Europe is taking the right steps to economic recovery.

Banana Republicans

eric cantor gives america the finger

Brent Budowsky: The extreme hard-line attitude of many Republicans has significantly raised the prospects for a national default and rating agency downgrades that would sweep across the nation and many states, causing an economic cataclysm and public outrage unlike anything ever seen in the history of the republic.

Social Costs of Rising Unemployment

capitalism-wide

Sy Slavin: While economists and national policymakers discuss economics in coldly statistical terms, research has shown that social costs of economic downturns, particularly rising unemployment rates have personal and social costs not previously discussed.

Weiner Coverage Highlights Media’s Troubling Priorities

weiner-wear-wide

Randy Shaw: Lost amidst the Weiner mania was media analysis of the slowing economy, or the departure a few days later of Austan Goolsbee, President Obama’s top economic advisor.

How to Get Washington’s Attention

wall-street-follies-wide

Robert Reich: The leaders of the Street and big business may now have to wake up to a reality they’ve tried to avoid — that the central economic problem of our time isn’t the long-term budget deficit but the immediate deficit in aggregate demand.

Can Krugmanomics Be Saved?

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Steven Hill: So according to Krugmanomics, taking on too much debt is not the problem – it’s not being able to pay the debt that is the problem. And Krugman’s solution, apparently, is to be able to depreciate your currency and/or default on your debts, leaving the creditors holding the bag.

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Economic Powerhouse Germany

germany

Steven Hill: Germany has evolved a social capitalism which has proven to be more stable and efficient than America’s Wall Street capitalism, not to mention more ecologically sustainable.

The Egyptian Middle Class Is Disgruntled. Again.

cairo

Guy Laron: Though protesters in Cairo are clamoring for democracy, the underlying cause of the demonstrations may be the economic plight of the Egyptian middle class, according to historian Guy Laron. In this essay, Laron traces the roots of that economic plight back to the 1952 coup that brought the current military regime to power.

Who Says Republicans Have No New Ideas?

herbert hoover

Robert Reich: Republicans haven’t come up with a single new idea in almost 60 years. Herbert Hoover was the last Republican president to introduce a new Republican theme back in 1952 at the Republican National Convention. Since then they’ve repeated the message. Of course, Herbert Hoover, you may remember, didn’t have a sterling record when it came to the economy. As president, he presided over the Great Crash of 1929 and ushered in the Great Depression.

Ronnie at 100

Tom Degan: The sad, pathetic truth of the matter is that on the evening of Tuesday, November 4, 1980 I got so falling-down intoxicated, I voted for the man just as a joke. A failed, “B” movie actor in the White House? That ought to be good for a nice, long chuckle , I thought.

New Politics, Patriotic Capitalism

David and Holly Petraeus

Brent Budowsky: This is the first in a series of columns that will propose that progressive populist Democrats and conservative populist Republicans unite behind new economic policies that I will call patriotic capitalism.



John’s Lament

bagpiper

John Blue: Chattel slavery may be gone for good, but today’s economic slavery may be little better; with the too-high unemployment and foreclosure rates and union membership ever declining, a lot of people “owe their soul to the Company store” and who among them is so bold to challenge their bondage?

Breaking China—Legally

hu jintao

Walter Brasch: Although China is the world’s second largest economic power behind the U.S. and this country’s largest creditor, there is no need to fear either its economy or its military power. It has already sown the seeds of its own destruction.

The Real Economic Lesson China Could Teach Us

hu obama poker

Robert Reich: China is eating our lunch. Why? It has a national economic strategy designed to create more and better jobs. We have global corporations designed to make money for shareholders.

The Big Lie

death panels

Robert Reich: Americans no longer have the purchasing power to keep the economy going at full capacity. Since the debt bubble burst, most Americans have had to reduce their spending; they need to repay their debts, can’t borrow as before, and must save for retirement.

Seven Reasons Why Capitalism Can’t Recover Anytime Soon

economy

Shamus Cooke: To deal with working people more ruthlessly, the radical right is being unleashed. In normal times these bigots yell furiously but no one listens. But in times of economic crisis they’re given endless airtime on all major media outlets.

Greece: Epicenter of the Debt Earthquake?

Papandreou and Obama

Steven Hill: One of the qualities holding Greece back from enjoying the benefits of a more modern economy is its reliance on an informal economy of family and social networks which too often translates into nepotism, back room deals and tax dodging. But during an economic crisis like this, those networks become valuable

Obama Wooing Economic Royalists

Obama Barack

Norman Solomon: The best way to defeat right-wing xenophobic “populism” is to build genuine progressive populism. In the process, we can draw on the spirit of the New Deal.

New Study Cites DREAM Act Economic Benefits

college students

Andrea Nill: The report concludes, “In the No DREAMers Left Behind scenario, 2.1 million undocumented immigrants would become legalized and generate approximately $3.6 trillion” over a 40-year period.

Amazing Germany’s Declining Unemployment: How Do They Do It?

Chancellor Angela Merkel

Steve Hill: the government of Chancellor Angela Merkel not only pursued different economic policies than the Obama administration, but Germany also has a greater degree of economic democracy than the U.S.

America Turns Right

john boehner

Randy Shaw: Obama’s early and steadfast refusal to attack Republicans in fiercely partisan terms allowed the GOP to blame Democrats for the ongoing economic crisis, and by the time Obama hit the campaign trail it was too little too late to change the public mood.

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