Private splendor and public squalor has never been more evident. While the recent election gave federal power to those who would widen the gap, state and local governments, the governments closest to the people, are where increasing needs, the perilous state of public services, and the growing disparity between the super-wealthy and the rest of us may offer fertile ground for progressive strategies that largely benefit those who voted for Trump.
The overwhelming majority of economists agree that prosperity requires countries to specialize in what they are good at producing, rather than trying to make and consume everything domestically. And the only way that specialization can work is if countries trade with one another and also allow a degree of capital and even labor mobility.
At Harvard since 1993, Oliver Hart has argued that the incentives for cost reductions in privatized services, such as private prisons in the United States, are typically too strong.
“Over the next 10 years, our economic team estimates that under our plan the economy will average 3.5 percent growth and create a total of 25 million new jobs… This growth means that our jobs plan… will be completely paid-for in combination with proposed budget savings.”
More than anything else, Trump’s rise is the manifestation of the anger of a significant minority of white voters over their loss of demographic and cultural hegemony. They’ve seen the new America, represented most dramatically by Barack Obama, and they’re not happy about it.
Since 1980, the family foundations of billionaire industrialist Charles Koch have gifted roughly $200 million to U.S. colleges and universities, largely to promote libertarian, free-market economics programs around the nation.
Back in 1992, Democratic strategist James Carville uttered his famous recommendation Bill Clinton ahead of the 1992 election: “It’s the economy, stupid!” Political scientists beat Carville to the punch, though: As far back as the 1950’s, scholars were uncovering evidence that presidential candidates of the incumbent party tend to win when the economy is strong on Election Day.
Clinton described Trump’s economic agenda as “just a more extreme version of the failed theory of trickle-down economics, with his own addition of outlandish Trumpian ideas that even Republicans reject.”
In March of 2016, President Barack Obama’s approval rating is around 51 percent, a three-year high, with a 4.9 percent unemployment rate, an eight year low.
As the Greek debt drama hurtles toward a nail-biting climax, fears are mounting that the outcome could sink not just Greece but the euro and the idea of the European Union itself.
Pope Francis will denounce the inequalities of capitalism when he becomes the first pontiff to address Congress on his visit to the U.S. in September
Dave Brat made history by unseating Eric Cantor, and now says he will deal with issues in Congress methodically and rationally.
In the race for the next ranking member of the Energy and Commerce Committee, what’s really at stake is the status quo for Democrats.
Democrats can connect with voters by telling a story about how they’ll make the economy work for all of us.
Washington (AFP) — Consumer prices in the United States fell in August for the first time in more than a year, dragged lower by declines in energy, the Labor Department reported Wednesday. The consumer price index fell 0.2 percent on the month. It was the first decline in CPI since April 2013, surprising analysts who […]
Thomas Piketty’s success is no fluke; he and other progressive thinkers have redefined the public debate around inequality. Inequality suddenly is the topic of the moment. Last weekend the French economist Thomas Piketty – whose recently published Capital in the Twenty-First Century is now #1 on the Amazon bestseller list, shocking for a 690-page macroeconomic tome – […]
It has been a long, long time since Americans accepted the advice of a French intellectual about anything important, let alone the future of democracy and the economy. But the furor over Thomas Piketty’s stunning bestseller, Capital in the 21st Century – and especially the outraged reaction from the Republican right – suggests that this fresh […]
The CBO’s projections often miss the mark, but its mandate is to produce a politically useful number. The admirable Jared Bernstein entirely misses the point in his post about recent critiques of the Congressional Budget Office. Floyd Norris, Zachary Karabell, and Dean Baker have noted how often the CBO gets it wrong, and how it influences policy in damaging ways. […]
WASHINGTON — One of my favorite moments during the 2012 Republican presidential contest came when Ron Paul, fresh from his strong showing in Iowa, triumphantly told his supporters: “We’re all Austrians now!” I imagined many Americans scratching their heads and wondering: Why do we want to be Austrians? They live in a nice country with […]
Washington (AFP) – President Barack Obama vowed to reverse a tide of economic inequality threatening the American dream, seeking to outflank Republicans and revive a second term blighted by self-inflicted wounds and partisan warfare. In his annual State of the Union address, Obama promised to wield his executive powers in a “year of action” to […]