Day: July 10, 2019
Inequality metrics and the question of power
Jason Hickel Blog | July 03, 2019
How should we measure inequality? There are two metrics that economists use: relative and absolute. In the past I have argued that the relative metric—which is by far the dominant approach, embodied in the standard Gini index, in the famous “elephant graph”, and in logarithmic distribution graphs—is problematic in that it is aligned with the interests and perspectives of the rich, and effectively obscures real inequalities in the distribution of new income around the world. From the perspective of justice, and indeed from the perspective of the poor themselves, what really matters is the absolute gap between rich and poor, not relative rates of change.Read More »
Growing old in America: Baby Boomer nightmare
Reports for the Economic Report | July 05, 2019
Despite its reputation as the wealthiest generation, baby boomers (generally considered to be those born between 1946 and 1964) are facing a retirement nightmare. A 2016 St. Louis Federal Reserve study of the retirement readiness of U.S. families came to the same conclusion but put it more gently: “It could be worrisome that, for many American households, the total balances of their retirement accounts may not be sufficient to ensure a solid life in retirement.”
The investment industry, always ready to deflect blame, argues that the problem is the result of the fact that Americans just don’t save enough. But even Barron’s, a sister publication of the Wall Street Journal that specializes in financial news, understands what is really happening. As a recent article in the magazine points out:Read More »
Should universities care about the truth?
MR Online | July 09, 2019
Isn’t the answer obvious? Universities are about attaining, preserving and disseminating knowledge—which only is knowledge insofar as it is true. Caring about the truth is what universities—through their members—do.
The question as intended, however, concerns claims of fact that are appealed to as grounds for governments to go to war or to engage in other kinds of hostilities such as sanctions, blockades, coups and military interventions.Read More »
Beware of betrayal by the military, Sudanese Communist Party warns protesters
by Pavan Kulkarni
People’s Dispatch | July 08, 2019
As jubilant masses of protesters on the streets of Sudan celebrate their victory after the military junta agreed to deal on the transitional government, the Sudanese Communist Party (SCP) has cautioned them to be vigilant against any betrayals.
The SCP urged the protesters to keep up the pressure on the military junta by maintaining a presence on the streets. In a statement on July 6, it warned against complacency and against compromising with the agenda set for the transition period in the Declaration of Freedom and Change that was adopted by civilian forces in January.Read More »
Protests break out in Norway over decision to shut down Nord University campuses
Peoples Dispatch | July 05, 2019
The decision to close down the campuses violates the university’s own promise in 2016 that they would be strengthened.
IMF – WB – WTO – Scaremongering Threats on De-Globalization and Tariffs – The Return to Sovereign Nations
by Peter Koenig
Countercurrents | October 14, 2019
As key representatives of the three chief villains of international finance and trade, the IMF, World Bank (WB) and the World Trade Organization (WTO) met on the lush resort island of Bali, Indonesia, they warned the world of dire consequences in terms of reduced international investments and decline of economic growth as a result of the ever-widening trade wars initiated and instigated by the Trump Administration. They criticized protectionism that might draw countries into decline of prosperity. The IMF cuts its global economic growth forecast for the current year and for 2019.Read More »
The psychosocial dimension of power: An emotional analysis of the Davos elite’s discourse on globalization
by Mario D’Andreta
Countercurrents | November 09, 2019
Constructivist and psychoanalytic oriented social research provides evidence that human behaviour is driven by the shared meanings of the subjective social experience (Blumer 1969, Mead 1934, Berger and Luckmann 1966, Moscovici 1961, Matte Blanco 1975, Carli 1993). This perspective can be used to understand the cultural drivers underlying the elite’s political and economic action.Read More »
The truth about reparations: They’re a condemnation of U.S. capitalism
by Chauencey K. Robinson
People’s World | June 27, 2019
Fugitive Slaves, Virginia, 1862/Library of Congress
“Enslavement was about the devil’s work of predatory capitalism.” — economist Julianne Malveaux
For the first time in over a decade, on June 19, the House Judiciary Subcommittee on the Constitution, Civil Rights, and Civil Liberties held its first congressional hearing on reparations. Though it’s a discussion that’s taken many forms over the years, the current talk surrounding reparations for the descendants of Black slaves needs to go beyond cash payouts and speak more to the dire need to address the ramifications of the slave trade on Black Americans.
Understanding the Global North’s Disinformation War Against Venezuela
Venezuelanalysis.com | July 08, 2019
Fairness and Accuracy in reporting did a study a few months ago that showed zero percent of elite, mainstream media pundits talking about Venezuela opposed regime change. Not even in a totalitarian regime could you so efficiently achieve this lock-step conformity to ideological orthodoxy with regard to regime change that the US media regularly performs.