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textHow the financial market redistributes from poor to rich by Gerhard Schick
"Some business models, such as high-frequency trading, where huge blocks of shares are shuffled back and forth every millisecond, have no added value for society, but bring profits to a few financial professionals at the expense of everyone else."...
Posted: Thu Jul 29, 2021 9:58AM
textVictor Arnautoff's Mural Survives SF School Board's Attack by Stop Attacks on Arnautoff & Art
Judge Anne-Christine Massullo overturned the reactionary San Francisco School Board's decision to cover-up the beautiful, anti-racist murals at George Washington High School painted in 1936 by a victim of anti-Communist witchhunts, Victor Arnautoff, and ordered a meet and confer of the school and the GWHS Alumni Association before August 26, 2021 on the missing environmental review. See https://www.msn.com/en-us/news/us/judge-overturns-sf-school-board-decision-to-cover-up-controversial-mural/...
Posted: Tue Jul 27, 2021 6:58PM
textBiden Appoints Former Partner of Anti-Union Morgan Lewis to Justice Dept by Keeping Track
Pres. Biden has appointed and the US Senate has confirmed Kenneth Polite, a former law partner of anti-labor and pro-Trump, Morgan, Lewis & Brockius, to be Assistant Attorney General in charge of the Criminal Division of the US Justice Department. See https://wallstreetonparade.com/2021/07/law-firm-that-was-sued-last-year-by-nys-attorney-general-for-refusing-to-turn-over-trump-documents-lands-a-partner-to-head-the-criminal-division-in-bidens-justice-department/...
Posted: Sat Jul 24, 2021 11:09PM
textCriminal banks and criminal capitalism by Gerd Bedszent
Since the 1970s, the real economy and the financial economy have been increasingly diverging. Gigantic assets vagabond around the globe, desperately looking for profitable investment opportunities and, in the absence of such opportunities, forming ever larger financial bubbles that burst every few years with a mighty bang, leaving behind legions of crying and feeling cheated investors....
Posted: Thu Jul 8, 2021 4:49AM
textLessons from the First New Deal for the Next One by William Janeway
During the four years of the Trump Administration, the attack on state capacity accelerated in new ways. On the one hand, any existing element of the Federal Government that could be deemed concerned with responding to climate change was proposed for liquidation, as was the Energy Department's Advanced Research Projects Agency....
Posted: Tue Jun 29, 2021 12:59PM
textChicago School Economists Got it Wrong. Strong Antitrust Policy Boosts the Economy by Lynn Parramore
When mergers increase market concentration, we know that competition has been harmed even if to a small extent. Since this is the case, it makes sense to ask the merging parties to establish that the merger will provide benefits to the economy. The merging parties should be forced to document how the merger will increase product quality and lower price....
Posted: Mon Jun 28, 2021 12:57PM
textArticle Top Economist: As Pandemic Recedes, a Chance to Rethink Unemployment by Lynn Parramore
The Chamber of Commerce, for example, has pushed the U.S. to stop expanded unemployment insurance benefits so that people will be forced to return to low-wage jobs. Some Republican-dominated states have jumped on board with this idea....
Posted: Fri Jun 25, 2021 1:51PM
textTeamsters Organizing Amazon by Solidarity Forever
A new, bigger union is taking on Amazon, the Teamsters. Get your vaccine, take your vitamins, and eat your fruits & vegetables because this labor organizing effort will bring us the future some of us have waited decades for. Young and old, we stand in solidarity with Amazon workers....
Posted: Tue Jun 22, 2021 8:21PM
textUniversity of California researchers petition for United Auto Workers union membership by Emily Ochiai, Jonathan Burleigh (WSWS Repost)
UC researchers desperately need fighting organizations, but the United Auto Workers will give them nothing but dashed hopes....
Posted: Tue Jun 8, 2021 10:13AM
textA turning point in the US and global class struggle by David North (WSWS Repost)
What is the nature of a true labor union? US Chairman of the Socialist Equality Party David North explains why the underreported event of workers rejecting a corrupt AFL-CIO-affiliated United Auto Workers contract is marking a new and important historical phase for workers around the world....
Posted: Tue Jun 8, 2021 9:41AM
textWe are all social democrats now. Almost all of us by Ingo Schmidt
A few weeks ago, IMF chief Kristalina Georgieva said rich households should pay higher taxes. Inequality in income and wealth had reached proportions that threatened social peace. The head of the IMF, Alfred Kammer, called on the German government, as in previous years, to increase its investments. U.S. Treasury Secretary Janet Yellen is calling for a global minimum tax on companies....
Posted: Mon Jun 7, 2021 9:51AM
textLearning to Feel Collectively by Max Lill
The starting point of the upheavals are the anti-colonial movements that have been spreading across the globe since the end of World War II. With the Black Civil Rights Movement, they penetrate into the heart of the capitalist world system starting in the mid-1950s, where they politicize liberal students* and the existentialist beat culture of the bohemians....
Posted: Sat Jun 5, 2021 7:09AM
textPacifica CRD & WorkWeek Covering Picketing & Block of Israeli Chartered Ship Volan At by WorkWeek
WorkWeek & Pacifica's Covid, Race & Democracy will be covering the picket of the Zim Ship Volan at the Port of Oakland...
Posted: Fri Jun 4, 2021 5:10AM
textAusterity's Hidden Purpose & From California Capitalism to Bidenomics by Yanis Yaroufakis,Laura Tyson & Lenny Mendoner
For governments pursuing austerity, spending cuts mean lower national income and fewer taxes. Unlike a household or a business, if the government cuts its spending during tough times, it is cutting its revenues, too....
Posted: Sun May 30, 2021 5:24AM
textAmazon's Meteoric Rise in Global Capitalism by Jake Alimahomed-Wilson and Ellen Reese
Amazon's meteoric rise is, in our view, a key moment in global capitalism. The company's rise to power reflects the increasing influence of neoliberal politics and corporate power in general. It represents a major shift in the global political economy, what we call Amazon capitalism....
Posted: Thu May 27, 2021 8:22AM
textBidenomics: Doomed to success by Jorg Bibow
America has an acute fascism problem. Joe Biden is doomed to succeed. He must convince enough of Trump's rather less educated supporters of a better future in a fair and democratic America through successful progressive economic policies....
Posted: Sat May 22, 2021 2:54PM
textDisempowering the US cartels by Eric Posner
Technology corporations mostly form oligopolies, if not monopolies. U.S. President Joe Biden is signaling that his administration wants to crack down on monopolies... Klobuchar's bill aims to boost antitrust action in many ways: it seeks to increase funding for the FTC and the Justice Department's Antitrust Division....
Posted: Wed May 19, 2021 12:25PM
textLabor for Palestine's Call for Nakba Day Support for Palestine by repost
U.S. Labor Must Stand With Palestine! Labor for Palestine, Nakba Day, May 15, 2021 As workers, labor, and anti-apartheid activists, we join millions around the world to unequivocally condemn Israel’s genocidal attacks on the Palestinian people: mass evictions in the Sheikh Jarrah and Silwan neighborhoods of Jerusalem, storming of Al-Aqsa Mosque, waves of state-sponsored violence throughout the West Bank and the ’48 areas (stolen from Palestine in 1948), and merciless bombardment of Gaza that...
Posted: Mon May 17, 2021 9:30PM
textWhy Karl Polanyi Still Matters by David Bollier
In The Great Transformation, Karl Polanyi explains why the economy must be embedded in society and society must not be embedded in the economy. He describes land, labor and money as "fictitious commodities" since they cannot be multiplied and created on the market....
Posted: Sat May 15, 2021 1:34PM
textCalifornia to ban new fracking permits by Jan. 2024, phase out oil extraction by 2045 by Dan Bacher
Representatives of environmental justice and climate justice groups praised the directive for being a step in the right direction, but said phasing out oil extraction in California by 2045 is too late and noted that frontline communities need an immediate 2500 foot health and safety buffer now, not later....
Posted: Wed May 12, 2021 5:10AM