Nothing quite makes neoclassical economists go apoplectic than reading or hearing the argument that an increase in the minimum wage doesn't cause unemployment. Just ask David Card and Alan Krueger (here's one example, from Gary Becker).
Economics: I'm going to discuss trillions of dollars in a moment. As an economics teacher, I understand numbers this large are extremely difficult to imagine. If you are among the majority with this difficulty, I recommend that you follow the expert testimony that paints the picture, and know that success in this area of public education transformation that unleashes trillions of our dollars for human creative capacity in unimaginable power is sufficient to end the current economic crisis.
This is the longest section of my briefing. If you tire in reading, please consider that at trillions of dollars of annual public benefits, you literally have nothing more valuable to do than understand the following facts and ideas.
Harvard's Linda Bilmes co-authored a paper with Nobel Prize winner Joseph Stiglitz estimating the long-term costs of current US wars at now $3 to $5 trillion ($30-$50,000 per US household of $50,000/year income), with total debt increase since 2001 of over $10 trillion. Remember, as demonstrated by the evidence disclosed by our own government, all the reasons Americans were told to go to war were known to be lies as they were told and applicable law proves these wars Orwellian unlawful.
Just down the Charles River from Harvard, MIT's Simon Johnson (and former Chief Economist of the International Monetary Fund) describes our economy being lead by gambling oligarchs who have captured government as in banana republics (his words), and might plunge the US into an economy worse than the Great Depression. From his article under the telling title, The Quiet Coup:
"Elite business interests-financiers, in the case of the U.S.-played a central role in creating the crisis, making ever-larger gambles, with the implicit backing of the government, until the inevitable collapse. More alarming, they are now using their influence to prevent precisely the sorts of reforms that are needed, and fast, to pull the economy out of its nosedive. The govern
AS RULINGS go, Judge Vaughn Walker's verdict on August 4th in San Francisco was relentless. The state of California, he wrote, cannot ban, even by popular vote, gays and lesbians from marrying because this would violate America's constitution by denying some couples "a fundamental right without a legitimate (much less compelling) reason." His decision is certain to be appealed, and most watchers think it will end up before the Supreme Court. But whatever happens there, it represents a huge leap forward in America's long struggle over the civil rights of homosexuals.
The Land of the Free punishes or imprisons more of its citizens than any other nation. This collection of testimonials from criminal offenders, family members, and experts on America's criminal justice system puts a human face on the millions of Americans subjugated by the US Government's 40 year, one trillion dollar social catastrophe: The War on Drugs; a failed policy underscored by fear, politics, racial prejudice and intolerance in a public atmosphere of out of sight, out of mind.
The United States has only 5% of the world's population, yet a full 25% of the world's prisoners. At 2.5 million, the US has more prisoners than even China does with five times the population of the United States. 8 million Americans (1 in every 31) languish under some form of state monitoring known as correctional supervision. On top of that, the security and livelihood of over 13 million more has been forever altered by a felony conviction.
The American use of punishment is so pervasive, and so disproportionate, that even the conservative magazine The Economist declared in 2010, never in the civilized world have so many been locked up for so little.
The project will unfold over a two year period, beginning with the release of this feature-length documentary and then continuing on with the release of short films and complete interviews from each of the 100 participants in the project, meant to represent the 1 in 100 Americans that are currently sitting behind bars.