Category

Trickle-Down

Trickle-Down

Will socialism make a comeback?

The ongoing global crisis caused by the COVID-19 pandemic has raised fundamental questions regarding globalisation and claims of its invincibility. These questions are social, political, economic, ideological and ecological in nature. The current world order, dominated by neoliberal capitalist ideologies, has fallen woefully short in the face of this global…
bubmag
May 19, 2020
Trickle-Down

COVID-19 highlights failures of neoliberalism and privatisation

As the acute phase of the pandemic draws to a close, a dynamic economy, with a strong private sector, will need an equally strong public infrastructure commitment, writes Professor John Quiggin. OVER THE LAST few weeks, I’ve been looking at Zombie ideas in economics. As I argued in Zombie Economics: How Dead Ideas Still Walk…
bubmag
May 19, 2020
Trickle-Down

An economist-exorcist’s lessons

In his monumental work, The General Theory of Employment, Interest and Money, economist John Maynard Keynes pointed to the tremendous influence of the ideas of economists and political philosophers — “both when they are right and when they are wrong.” Even practical men, Keynes noted, “who believe themselves to be…
bubmag
May 18, 2020
Trickle-Down

The bailout is working — for the rich

Ten weeks into the worst crisis in 90 years, the government's effort to save the economy has been both a spectacular success and a catastrophic failure. The clearest illustration of that came on Friday, when the government reported that 20.5 million people lost their jobs in April. It marked a…
bubmag
May 16, 2020
Trickle-Down

The Bailout is Working—for the Rich

More than 20 million people lost their jobs last month, but the S&P 500 is up 30 percent.Mark Lennihan/AP For indispensable reporting on the coronavirus crisis and more, subscribe to Mother Jones' newsletters.This story was published originally by ProPublica, a nonprofit newsroom that investigates abuses of power. Sign up for…
bubmag
May 14, 2020
Trickle-Down

The Bailout Is Working — For The Rich

This story first appeared at ProPublica. ProPublica is a Pulitzer Prize-winning investigative newsroom. Sign up for The Big Story newsletter to receive stories like this one in your inbox. Ten weeks into the worst crisis in 90 years, the government’s effort to save the economy has been both a spectacular…
bubmag
May 11, 2020
Trickle-Down

The Bailout Is Working — For the Rich

ProPublica is a nonprofit newsroom that investigates abuses of power. Sign up to receive our biggest stories as soon as they’re published. Ten weeks into the worst crisis in 90 years, the government’s effort to save the economy has been both a spectacular success and a catastrophic failure. The clearest…
bubmag
May 10, 2020
Trickle-Down

Don’t believe Mitch McConnell’s talk about ‘austerity’ — his track record shows he’d rather bail out corporations and the wealthy at the expense of everyday Americans’ futures

Paul Constant is a writer at Civic Ventures, a cofounder of the Seattle Review of Books, and a frequent cohost of the "Pitchfork Economics" podcast with Nick Hanauer and David Goldstein.In the latest episode of the "Pitchfork Economics," Roosevelt Institute Director Mike Konczal said government austerity causes leaders to slash budgets when…
bubmag
May 7, 2020