7 Economic Terms That Are Often Used to Trick People Out of Their Money

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‘While the Rest of the World Burned,’ Billionaires Made More Money in 2017 Than Any Other Year in History

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Common Dreams | October 26, 2018

“The past 30 years have seen far greater wealth creation than the Gilded Age,” the UBS’s annual billionaires report notes. “That period bred generations of families in the U.S. and Europe who went on to influence business, banking, politics, philanthropy, and the arts for more than 100 years.” (Photo: Super Yachts)

During a year in which so much of the world faced deep poverty, the corrosive effects of austerity, and extreme weather caused by the worsening human-caused climate crisis—from devastating hurricanes to deadly wildfires and floods—one class of individuals raked in more money in 2017 than any other year in recorded history: the world’s billionaires.

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People vs. Money: Socialist beats Wall Street Dem in New York

by Michael Arney

People’s World | June 29, 2018

People vs. Money: Socialist beats Wall Street Dem in New York

Alexandria Ocasio-Cortez, a socialist candidate, defeated ten-term New York Congressman Joe Crowley in the Democratic primary Tuesday. | Corey Torpie / Ocasio-Cortez Campaign

NEW YORK—On Tuesday’s Democratic primary election for New York’s 14th Congressional District, Alexandria Ocasio-Cortez accomplished a nearly impossible task: She defeated her heavily overfunded incumbent opponent. With practically all votes counted, the bartender-turned-socialist-candidate trounced high ranking, ten-term incumbent and Queens Democratic Party Chair Rep. Joseph Crowley 58 percent to 42 percent, even though he outspent her more than 10 to 1.Read More »

The Great October Revolution: Machine And Money

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Countercurrents.org | November 05, 2017

october-revolution-lenin

Denouncing Lenin and his “band” of Bolsheviks by their class enemies is endless while discussing the Great October Revolution. One of the few denouncements bases its arguments on “machines and money”.

The main argument put forward by this machines and money-group is: as an economy Russia was “not” matured for the Revolution, and Lenin with his “band” of Bolsheviks thrust their “knife” of revolution into that “immature” reality. “[T]he general image is still dominated by the perception that it was the most backward of the world’s largest economies. For example, the editors of the recently published Cambridge Economic History of Modern Europe classified the economy of the Russian Empire as “peripheral”, together with the Austro-Hungarian Empire.” (Volodymyr Kulikov & Martin Kragh, “Big Business in the Russian Empire: A European Perspective”, World Business History Congress / Annual EBHA meeting, Bergen, Norway, August 2016) A look, gleaned mainly from the mainstream, and in brief, into the economy helps find out whether their claim was correct or not.Read More »

Canada Uses Money Meant for Indigenous Kids on Mining Instead

telesur | 02 March, 2017

Instead of spending millions devoted to supporting Indigenous communities, Canada is spending a portion on promoting mining development in their territories, according to an investigation published Thursday.

Canada’s Indigenous and northern affairs minister, Carolyn Bennett, said in an interview in January that almost US$150 million are being spent on Indigenous initiatives, but a closer look at documents by Press Progress showed that the sum is exaggerated and that some is siphoned off into programs meant to win and pressure Indigenous communities into complying with mining projects.

Parliament set aside US$53 million last year to address a ruling that showed that Indigenous children were discriminated against in the budget. The Canadian Human Rights Tribunal, however, found that that gap was twice as big.Read More »

Landmark Survey Finds Special Interests are Pouring Money into Local Elections

by Lauren McCauley, staff writer

Common Dreams | 26 June, 2016

The lower cost of state and local elections makes it relatively easy for dark money to dominate. (Image: Charles Mann Photography/iStockphoto.com)The lower cost of state and local elections makes it relatively easy for dark money to dominate. (Image: Charles Mann Photography/iStockphoto.com)

While the outsized influence that Big Money is having on federal elections is well-documented, the local impact of the Supreme Court’s 2011 Citizens United ruling has not been fully realized—until now.

The Brennan Center for Justice at New York University School of Law on Sunday published a landmark report (pdf) documenting how secret donations have corroded democracy at the state level, where it is “arguably most damaging.”Read More »

In Universities, Money Talks

By Richard Hil

Countercurrents.org | 14 December, 2015

A few weeks ago I decided to avoid reading anything to do with higher education, at least for a while, including the weekly columns in Australia’s’ only daily broadsheet, The Australian. In truth, this self-imposed ban was more experiment than convalescence. I hoped to emerge from the void to find a new dawn: a blaze of enlightened commentary that would finally put paid to what felt like an unfolding dystopian nightmare. But nothing of the sort; it was Groundhog Day.

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