Economy - Part 17

An Indictment of the Invisible Hand
Economist Thomas Piketty's new book has stunned both the economic profession and most political observers. But the economic mainstream is not truly dealing with its most serious implications. ...[Read more]
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The Middle Class Is Not ”Normal”
Despite what you might read in the Wall Street Journal or see on Fox News, capitalism is not an economic system that produces a middle class. In fact, if left to its own devices, capitalism tends towards vast levels of inequality and monopoly. The natural ...[Read more]
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Occupy was right: capitalism has failed the world
One of the slogans of the 2011 Occupy protests was 'capitalism isn't working'. In an epic new book, French economist Thomas Piketty explains why they're right. ...[Read more]
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Got $30m to burn? Welcome to the Filthy Rich Money Spending club
Jon Henley: While chancellor George Osborne preaches austerity, his brother Theo has an exclusive company just waiting to help Ultra-High-Net-Worth Individuals spend their dosh ...[Read more]
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US corporations holding more than $2.1 trillion in untaxed profits overseas
According to a new report, more than $2 trillion worth of profit generated by some of the biggest United States-based corporations is being held overseas where it’s not subject to US income tax law. ...[Read more]
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Anger, Not Envy, Is Raising Americans’ Ire
Suddenly, or so it seems, inequality has surged into public consciousness - and neither the 1 percent nor its reliable defenders seem to know how to cope. Some of the reactions are crazy - "it's Kristallnacht," "they're coming to kill us" - and the crazin ...[Read more]
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Real Truth vs. Fictional Truth: The Dow Jones Industrial Average (DJIA) is a Hoax
The Dow Jones Industrial Average (DJIA) Index is the only stock market index that covers both the second and the third industrial revolution. Calculating share indexes such as the Dow Jones Industrial Average and showing this index in a historical graph i ...[Read more]
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More Evidence That Half of America Is in or Near Poverty
The Charles Koch Foundation recently released a commercial that ranked a near-poverty-level $34,000 family among the Top 1% in the world. Bud Konheim, CEO and co-founder of fashion company Nicole Miller, concurred: "The guy that's making, oh my God, he's ...[Read more]
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Radical UN Report Promotes Democratic Control of Food and an End to Corporate Domination
A new report submitted to the United Nations Human Rights Council on the “Right to Food” took aim at the entire basis on which food is produced and distributed on a global scale. Reflecting the type of progressive analysis of our food system from expe ...[Read more]
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Thousands of people across Spain are converging on the nation's capital. A massive demonstration is planned for Saturday against rampant unemployment, evictions and poverty. Jobless rates did fall by a record number in December however, bringing some hope ...[Read more]
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The Cancer Stage of Reaganomics
Our young people are drowning in a sea of debt, and it all started with Reaganomics. And Reaganomics is a lot like cancer. Most people don't know they have cancer until it reaches the later cancer stages, when it becomes much harder to treat. In the early ...[Read more]
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