THE NEXT TIME I HEAR a politico or banker or Detroit executive talk about institutions “too big to fail,” I’ll direct them to the 34 percent of Americans who are obese. Last I heard, these big Americans, themselves a kind of cultural institution, were failing en masse, racked by diabetes, asthma, heart trouble, and bound for early death. The human form can only grow so big. Or I could point them... Read more
As a society obsessed by money, we pay a gigantic price for not educating high school and college students about money and banking. The ways of the giant global banks – both commercial and investment operations – are as mysterious as they are damaging to the people. Big banks use the Federal Reserve to maximize their influence and profits. The federal Freedom of Information Act provides an... Read more
It’s 1:30 a.m., a time when most people are asleep.
Your neighborhood is in darkness, except for a few street lamps. Someone—he doesn’t identify himself and the voice isn’t familiar—is pounding on your front door, demanding that you open up. Your heart begins racing. Your stomach is tied in knots. The adrenaline is pumping through you. You fear that it’s an intruder or worse. You not only fear... Read more
Limits to economic growth? | Feasta
On April 3 in the Guardian there was an article about Christine Lagarde of the IMF concerned that the growth of productivity in many “developed countries” has been falling. There is a problem for the finance sector if growth falls away since additional income is needed for people to be able to service and repay their debts. Without growth the finance... Read more
Lyndon Baines Johnson in 1964 buried Barry Goldwater in West Virginia, 67.9 percent to 32.1 percent. By 2016, Trump completely reversed that landslide by defeating Hillary Clinton 67.9 percent to 26.2 percent. What happened to turn such a deep blue state into flaming red?The Democratic Party establishment has a simple explanation: West Virginians are so hung up on cultural issues like guns, gays... Read more
What does genuine economic progress look like? The orthodox answer is that a bigger economy is always better, but this idea is increasingly strained by the knowledge that, on a finite planet, the economy can’t grow for ever.But what is a steady-state economy? Why it is it desirable or necessary? And what would it be like to live in?
Phil Murphy, the leading Democratic candidate for governor of New Jersey, has made a state-owned bank a centerpiece of his campaign. He says the New Jersey bank would “take money out of Wall Street and put it to work for New Jersey – creating jobs and growing the economy [by] using state deposits to finance local investments … and … support billions of dollars of critical investments in... Read more