The following is a brief piece written by New York Times columnist, David Leonhardt. In it, he asks the question, Race, class or both? He is referring to whether the 2016 election was in large part won by Donald Trump due to Americans’ racism (the white people, that is) or economic insecurity/economic inequality. It is an interesting summary, and it is recommended that the interested reader follow the links herein to the New York Times to read more. I also include a dozen interesting quotes about economics, capitalism, economic justice, and income inequality by scholar and author Steven Pearlstein.Read More
May 23rd, 2021
March 9th, 2021
Is the American “capitalistic” system fair and functioning well? What makes a society good and economically just? Does America show satisfactory respect for the dignity of its citizens based on the economic system is created? Have things gotten worse since the COVID-19 pandemic? Whether wealth and income inequality are fair and morally justifiable hinges on what one believes about the nature of the socio-economic system in question. The 18th century theorists of great renown, Jean-Jacques Rousseau and Adam Smith both have opinions relevant American-style capitalism, economic justice, and rights/fairness. In the end, I do not believe either would see a justification for the “capitalistic” system America has created.Read More
April 17th, 2020
America was cruising along in the early part of the year, Trump touting the amazingly low unemployment and extremely high Dow Jones Industrial Average. Companies were making profits, and things were moving in that generally-optimistic direction. Infrastructure was being neglected, health insurance was a damnable mess, and Americans were probably more divided that any time since the tumultuous 1960s. Then, a bat’s DNA and some other animal’s DNA combined in a pernicious and horrifying way in some God-forsaken food market in Wuhan, China. All hell broke loose.
Instead of landing in a well-constructed and life-saving social safety net, millions of Americans are out of work, depressed, socially strained, and terribly pessimistic.
This blog features some markers of where we are, economically, in this, the worst economic disaster since the Great Depression.
April 9th, 2020
I often will sit at my computer, kind of bored and idle and unstimulated. I suppose some of that is not only the life of a writer, but as a mostly-unsuccessful blogger, it’s pretty much the bottom of the barrel of the writing profession. So whereas a writer such as Hemingway or Woolf or Nietzsche, whom you could imagine sitting at the typewriter (or chewing mindlessly on their quill), might experience writer’s block (or a manic work-spree), at least they have the highest-caliber brains and publishers awaiting a quality product. Now, with 1,000,000 books published in any given year, and folks being mostly resistant to being marketed to, the number of writers who probably sit and suffer day in and day out must be legion. But, today, I fell into a rich vein of political, philosophical, and written gold, and I want to share it here. The medium: quotes. The subject: America’s characteristic, predictable, and mixed response to the biggest crisis in a century: the coronavirus pandemic. It is stretching each of us, and our social fabric, and our institutions, to the limit. Here are some trenchant thoughts by three sources that all cohere nicely.Read More
February 19th, 2020
Unless you’re quite wealthy, you probably feel an economic pinch— a job that’s not keeping pace, a fair amount of debt, insecurity about Social Security. The economic priorities of the Bush administration and Congress are fairly plain to see; the road to fiscal propriety in a more progressive America is not rocket science— it comes down to priorities and discipline. I’m happy to speak with two guests today who have decades of combined experience watching the economy, the media, and the rest of the factors that support it. Thank you for listening; we have to take a quick break, but when I return I will tell you about Jared Bernstein, Ph.D. and, then at the bottom of the hour, I will be speaking with Professor Edward Herman.Read More
June 2nd, 2019
My wife and I donated five thousand dollars to a local no-cost medical clinic, the Barrier Islands Free Medical Clinic. My visit was amazing. It’s a new building, and is at least as nice as my doctor’s. Probably nicer. It was built recently with 100% donations and grants! For an individual making up to about $25,000 a year or a family of four earning around $50,000 annually, primary care and many other specialties are free. Free. It felt like a wonderful asset to our community, which sits in one of the poorest states in the country. Many folks, however, believe that anything “free” is not only a waste of resources, but morally offensive. That is the cult of the individual, and it runs afoul of an important belief underlying progressive politics and moral decency: the responsibility we have for our fellow man (and woman).Read More
August 31st, 2018
I am going to attempt to demonstrate in this blog that Republicans have not been, at least in my lifetime, the Party of fiscal responsibility. This has a substantial affect on our finances and our lives. To some degree, Dems in Congress have in times-past been kinda spendy and porky. But it seems inarguable to me that Republicans in Congress and in the White House do not have fiscal integrity (or the peoples’ best interests at heart). In general, Republican politicians talk a good game, but when it comes to fiscal responsibility and integrity, they tend to cut taxes and increase spending. It has resulted in over $21,000,000,000,000 of debt. Red state Trump backers need to know that the GOP is not the party of the working class and that it cannot go on unchecked.Read More
August 28th, 2018
Boy, was I angry at the Democratic National Committee’s treatment of Bernie Sanders in 2016. Their chicanery (supporting Clinton for the nominee for patently political reasons) really rubbed me the wrong way. That cynical and corrupt situation plus a lot of Bernie supporters being unenamored with Hilary Clinton probably swung the election, because I believe Sanders would have prevailed in a few of the states Clinton lost. I mean, she didn’t even visit Pennsylvania, and Sanders had a robust following in many of those blue-collar swing states. It all added up to a bunch of crap, if you ask me. We are now enjoying the worst presidency in American history – an embarrassment for us in 2016, since we have so much more information and better education than they did during Pierce’s or Taft’s presidencies. We are supposed to be going in a progressive direction, but at least since 1980 there has been a reactionary counterforce in place, most notably perhaps with Donald Trump. Democrats made a big step a couple days ago that will help this whole country.Read More
August 23rd, 2018
Is capitalism a sustainable economic system? There are many facts, opinions, and even biases held by countless people. Everyone has heard “Socialism is _______” or “The problem with capitalism is ___________.” This is certainly a question that interests me. I tend to come down on the side of capitalism where it meets democratic socialism. That is, the government (comprised of responsible and accountable citizens) owns some public resources, and individuals and to some degree corporations own the remainder. The amount of money that one can make from profit-seeking ventures is limited by a very progressive taxation scheme. One of the sharpest minds is the liberal author, professor, and former Secretary of Labor, Robert S. Reich, and he wrote a book, Saving Capitalism, that helps to answer the critical and timely questions, Is capitalism a sustainable economic system? Is capitalism just and fair? What can socialism and other approaches offer capitalism to help preserve the planet, care for people, and yet allow profit-making? This blog features Robert Reich quotes from his very readable book, Saving Capitalism.Read More
August 15th, 2018
It’s not a novel concept to compare America to Rome, nor is it to see connections between an ailing, sclerotic, corrupt Roman Empire and our own republic. One thing they share is moral decay, foolish financial/military policies, and perhaps above all, political corruption. I am talking about the effect of money on governance. In modern parlance, crony capitalism. It is a thorn in America’s side because it hampers a democratic and horizontal diffusion of capital and resources amongst the tens of millions of small businesses. Worse than unregulated capitalism, crony capitalism claws at the beliefs that America is the land of opportunity and that we’re all in this together, making them myth. Indeed, as Nobel laureate and economist Joseph Stiglitz maintains, “One of the darkest sides to the market economy that came to light was the large and growing inequality that has left the American social fabric, and the country’s economic stability, fraying at the edges: the rich are getting richer while the rest were facing hardships that seemed inconsonant with the American dream.”Read More