Unfortunately, things are getting harder for workers who want to organize. Many states have passed so-called "right-to-work" laws that do nothing but make it harder to form a union. Others have limited collective bargaining rights.
Can people do well without belonging to a union? Sure. But it was near impossible before the rise of unions in the 1930s and it has been harder since the decline of unions in the '70s. A significant percentage of the population has been economically disadvantaged without unions.
Democrats are doing one of two things, and neither one of them is very impressive. Democratic candidates are either so scared of being called a tax-raiser by Republicans that they do not support changing the problem at all, or they are secretly for changing it but don't want to say it.
China's weight in the world economy has been rising and was made excruciatingly apparent by the turmoil in U.S. equities markets over the past few weeks. Much of current stock market anxiety was at least "assembled" in China.
We're witnessing, I'm fairly certain, market chaos associated with the end of the era of fossil fuels.
LONDON -- It is often said that we live in a culture of instant gratification -- and this is especially true of financial markets. The debt crisis was a spectacular example. Upfront profits blinded over-confident investors to long-term risk -- with disastrous consequences. Since the crash, lack of confidence has given rise to a different type of short-termism.
We need to make sure those who do the people's work in Washington are actually doing it -- not worrying about former or future bosses at the public's expense.
According to the standard narrative, a big part of the success of the Finnish education system is the country's focus on math, science and technology education to prepare its students for 21st century jobs.
The Fed is famous for raising rates prematurely, seeing ghosts of inflation. But there is no inflation on the horizon -- the bigger worry is deflation. In fact, the inflation rate is well below the Fed's own target of two percent. And the Fed is the only game in town. On balance, I think the opponents of a rate hike have the better argument. But consider for a moment that last assumption -- that the Fed is the only game in town. The larger issue, which is getting submerged in the great debate about raising rates, is that the Fed should not be the only game in town. With fiscal stimulus ruled out politically, pressure is on the Fed to be the sole engine of growth. Yet the central bank can only do so much.
Chinese-style "manipulation" is clearly a disaster. While it has generated 35 years of stunning economic growth, it has also forced rich people around the world to endure a week-long, anxiety-provoking drop in stock prices!
We have had enough of those policies that favor markets and financial institutions to the detriment of the rest of the economy. The Federal Reserve has been waiting too long to correct the current abnormal situation. The IMF is wrong to encourage it to do so.
Now is the time for Democrats to rally and speak in unison about the economic performance under this president, something Republicans orchestrate so well. While not stellar and considering we were on the brink of collapse, Obama's economic performance is praiseworthy.
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Reuters' Charles Levinson has written a must-read investigative report on Wall Street's latest scheme to avoid critically important financial reforms: change a few words in their derivatives contracts and pretend that they are not guaranteeing their overseas affiliates.
Our opponents refer to paid sick days as "fringe benefits," an "extra" handed out by employers when they can afford it. But the reality is, sick time should be a basic part of compensation, a minimum standard that keeps employers from docking workers' pay or kicking them out of a job for being a good parent or following doctor's orders.
Most agree that the work to reinvent New Orleans remains unfinished. That's true, especially because post-Katrina New Orleans is trending back toward its old self -- a sluggish regional economy with high inequality and not enough opportunities for its residents. That was certainly not the vision.