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Stories about Labor and Economics.

How Economists Tricked Us Into Thinking Capitalism Works

By: 
Robert R. Raymond

In fact, the political economist Eleanor Ostrom actually won the Nobel Prize in Economics in 2009 for disproving the long-held belief known as the “tragedy of the commons,” a theory which held that resources held in common by communities would naturally be overused and depleted. Ostrom’s work demonstrated that this assumption is false, and that it is in fact very possible for resources to be managed collectively without privatization.

French Strike: Electricity Workers Light Poor Homes On Christmas, Cut-Off Power To Police And Big Business

By: 
Salvador Soler

There is no “Christmas truce” for the workers of the Electricity Company of France (EDF) who are on strike.

Cuban Workers Celebrate Salary Rise From New Economic Measures

By: 
Helen Yaffe

‘Today is Cuban workers’ day!’ a Cuban friend told me in late June, beaming at the news that all employees of the island’s ‘budgeted’ state sector would receive significant salary rises, commencing from 1 July 2019. Cuba’s budgeted sector incorporates organisations and entities which operate with a state budget and mostly provide services free to the population without returning revenue to the state. This includes public health , education, culture and sport, public administration, community services, housing and defence.

Publicly Owned Utilities Could Help Fight the Climate Crisis

By: 
Greta Moran

Earlier this month, Pacific Gas & Electric, the investor-owned utility company that supplies power to much of California, cut off electricity to over 700,000 customers. The company argued that such a drastic measure — the largest planned power outage in the state’s history — was necessary to prevent wildfires.

Yet for some activists, this bleakly framed choice served as another reminder that investor-owned utility companies are not positioned to manage our energy futures, especially as climate change raises the stakes.

A globalized solar-powered future is wholly unrealistic, and our economy is the reason why

By: 
Alf Hornborg

Most scientists, politicians, and business leaders tend to put their hope in technological progress. Regardless of ideology, there is a widespread expectation that new technologies will replace fossil fuels by harnessing renewable energy such as solar and wind. Many also trust that there will be technologies for removing carbon dioxide from the atmosphere and for “geoengineering” the Earth’s climate. The common denominator in these visions is the faith that we can save modern civilisation if we shift to new technologies. But “technology” is not a magic wand. It requires a lot of money, which means claims on labour and resources from other areas. We tend to forget this crucial fact.

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