Group items tagged

I've written before about the crisis of inequality in the United States and about the quasi-religious abhorrence of "wealth redistribution" that causes many Americans to oppose tax increases, even on the ultra rich. The conviction that taxation is intrinsically evil has achieved a sadomasochistic fervor in conservative circles-producing the Tea Party, their Republican zombies, and increasingly terrifying failures of governance. Happily, not all billionaires are content to hoard their money in silence. Earlier this week, Warren Buffett published an op-ed in the New York Times in which he criticized our current approach to raising revenue. As he has lamented many times before, he is taxed at a lower rate than his secretary is. Many conservatives pretend not to find this embarrassing. Conservatives view taxation as a species of theft-and to raise taxes, on anyone for any reason, is simply to steal more. Conservatives also believe that people become rich by creating value for others. Once rich, they cannot help but create more value by investing their wealth and spawning new jobs in the process. We should not punish our best and brightest for their success, and stealing their money is a form of punishment. Of course, this is just an economic cartoon. We don't have perfectly efficient markets, and many wealthy people don't create much in the way of value for others. In fact, as our recent financial crisis has shown, it is possible for a few people to become extraordinarily rich by wrecking the global economy. Nevertheless, the basic argument often holds: Many people have amassed fortunes because they (or their parent's, parent's, parents) created value. Steve Jobs resurrected Apple Computer and has since produced one gorgeous product after another. It isn't an accident that millions of us are happy to give him our money. But even in the ideal case, where obvious value has been created, how much wealth can one person be allowed to keep? A trillion doll

When Perry accuses Ben Bernanke of treachery and treason, his violent rhetoric ("we would treat him pretty ugly down in Texas") is scary in itself. But we shouldn't let that obscure Perry's substantive message - that neither Bernanke nor the Fed really deserve to exist, to control the US money supply, and to work towards a dual mandate of price stability and full employment. For the first time in living memory, someone with a non-negligible chance of winning the US presidency is arguing not over who should head the Fed, but whether the Fed should even exist in the first place. Looked at against this backdrop, the recent volatility in the stock market, not to mention the downgrade of the US from triple-A status, makes perfect sense. Global corporations are actually weirdly absent from the list of institutions in which the public has lost its trust, but the way in which they've quietly grown their earnings back above pre-crisis levels has definitely not been ratified by broad-based economic recovery, and therefore feels rather unsustainable. Meanwhile, the USA itself has undoubtedly been weakened by a shrinking tax base, a soaring national debt, a stretched military, and a legislature which has consistently demonstrated an inability to tackle the great tasks asked of it. It looks increasingly as though we're entering Phase 2 of the global crisis, with 2008-9 merely acting as the appetizer. In Phase 1, national and super-national treasuries and central banks managed to come to the rescue and stave off catastrophe. But in doing so, they weakened themselves to the point at which they're unable to rise to the occasion this time round. Our hearts want government to come through and save the economy. But our heads know that it's not going to happen. And that failure, in turn, is only going to further weaken institutional legitimacy across the US and the world. It's a vicious cycle, and I can't see how we're going to break out of it.

A protest at the White House against a pipeline from the Alberta tar sands is emerging as the biggest green civil disobedience campaign in a generation, organisers said.

Businesses have had at least 25 to 30 years near complete certainty -- certainty that they will pay lower and lower taxes, that they' will face less and less regulation, that they can outsource to their hearts' content (which when it does produce savings, comes at a loss of control, increased business system rigidity, and loss of critical know how). They have also been certain that unions will be weak to powerless, that states and municipalities will give them huge subsidies to relocate, that boards of directors will put top executives on the up escalator for more and more compensation because director pay benefits from this cozy collusion, that the financial markets will always look to short term earnings no matter how dodgy the accounting, that the accounting firms will provide plenty of cover, that the SEC will never investigate anything more serious than insider trading (Enron being the exception that proved the rule). So this haranguing about certainty simply reveals how warped big commerce has become in the US. Top management of supposedly capitalist enterprises want a high degree of certainty in their own profits and pay. Rather than earn their returns the old fashioned way, by serving customers well, by innovating, by expanding into new markets, their 'certainty' amounts to being paid handsomely for doing things that carry no risk. But since risk and uncertainty are inherent to the human condition, what they instead have engaged in is a massive scheme of risk transfer, of increasing rewards to themselves to the long term detriment of their enterprises and ultimately society as a whole.

The Occupy Wall Street movement is well into its second week of operation, and is now getting more attention from media as well as from people planning similar actions across the country. This is a promising populist mobilization with a clear message against domination by political and economic elites. Against visions of a bleak and stagnant future, the occupiers assert the optimism that a better world can be made in the streets. They have not resigned themselves to an order where the young are presented with a foreseeable future of some combination of debt, economic dependency, and being paid little to endure constant disrespect, an order that tells the old to accept broken promises and be glad to just keep putting in hours until they can't work anymore. The occupiers have not accepted that living in modern society means shutting up about how it functions. In general, the occupiers see themselves as having more to gain than to lose in creating a new political situation - something that few who run the current system will help deliver. They are not eager for violence, and have shown admirable restraint in the face of attack by police. There may be no single clear agenda, but there is a clear message: that people will have a say in their political and economic lives, regardless of what those in charge want. Occupy Wall Street is a kind of protest that Americans are not accustomed to seeing. There was no permit to protest, and it has been able to keep going on through unofficial understandings between protestors and police. It is not run by professional politicians, astroturfers, or front groups with barely-hidden agendas. Though some organizations and political figures have promoted it, Occupy Wall Street is not driven by any political party or protest organization. It is a kind of protest that shows people have power when they are determined to use it. Occupy Wall Street could be characterized as an example of a new type of mass politics, which has been seen in

David Graeber currently holds the position of Reader in Social Anthropology at Goldsmiths University London. Prior to this he was an associate professor of anthropology at Yale University. He is the author of 'Debt: The First 5,000 Years' which is available from Amazon. Interview conducted by Philip Pilkington, a journalist and writer based in Dublin, Ireland.

The Bureau of Labor Statistics reports today no jobs were created in August. Zero. Nada. Well, not quite. The strike at Verizon reduced the labor force by 45,000. Minnesota government employees returned to work, adding 22,000. So in reality, America added 23,000 jobs. Almost zero. In reality, worse than zero. We need 125,000 a month merely to keep up with population growth. So the hole continues to deepen. Since this Depression began at the end of 2007, America's potential labor force - working-age people who want jobs - has grown by over 7 million. But since then the number of Americans with jobs has shrunk by more than 300,000.

Rep. David Schweikert (Ariz.) and two other House Republicans - including supercommittee co-chairman Jeb Hensarling (Texas) - introduced legislation last week aimed at retiring the paper dollar.... According to the proponents the retirement of the US One Dollar Bill could save save billions of dollars over the next few decades by transitioning to a one dollar coin in four years, or as soon as $600 million worth of dollar coins are in circulation. Rep. Schweikert said, "Metal coins would last longer and therefore save money. But two Massachusetts Lawmakers, Scott Brown and John Kerry oppose the suggestion on ground it costs too much too produce the coins.... But it seem to me they would last longer...isn't that what smart business buy, products that are Value Purchased not cost purchased. It is also interesting also The Dollar Coin Alliance, which favors the House bill, said the two Massachusetts senators have a specific reason for wanting to protect the dollar bill, arguing that the Senate bill is aimed at protecting Massachusetts-based Crane & Co., the sole-source supplier of paper used to produce dollar bills. So what else is NEW! More cronyism? A poll conducted this year for the Dollar Coin Alliance showed 65 percent of Americans favored the move to a coin, and that more supported it once they realized the savings associated with the switch. And other countries who have done same have benefited overall in the Cost of Producing currency. "Other countries that have replaced a low-denomination note with a coin, such as Canada and the United Kingdom, stopped producing the note," the GAO said in March. "Officials from both countries told GAO that this step was essential to the success of their transition and that, with no alternative to the note, public resistance dissipated within a few years."

Always appreciate comments on the blog posts

I was honored to be invited to speak at Occupy Wall Street on Thursday night. Since amplification is (disgracefully) banned, and everything I said had to be repeated by hundreds of people so others could hear (a.k.a. "the human microphone"), what I actually said at Liberty Plaza had to be very short. With that in mind, here is the longer, uncut version of the speech.

Every day, 200,000 domestic workers in New York, mostly women of color, make it possible for others to work. But these nannies, elderly caregivers, and housekeepers are excluded from the most basic labor laws (including the National Labor Relations Act), and isolated with no power or leverage to negotiate. They endure long hours, low wages and sometimes emotional and physical abuse. New York State is considering historic legislation that would provide protections to domestic workers for the first time! The New York Domestic Workers Bill of Rights is the first of its kind nationally and will set a precedent for labor standards for domestic workers around the country Stand with domestic workers by calling Albany legislators to help pass the Domestic Workers Bill of Rights! Call Speaker of the Assembly Sheldon Silver at (518)-455-3791 and Senate Majority Leader Malcolm Smith at (518)-455-2701 and say: "My name is __________, and I live in ___________ New York. I'm calling to urge you to help pass the Domestic Workers Bill of Rights Bill numbers A1470/S2311 this legislative session. Tomorrow, hundreds of domestic workers and their supporters will come to Albany for a day of action and education. Please work with them to move the Domestic Workers Bill of Rights to the floor for a vote." Then find your own representatives and let them know you want them to support the Bill of Rights: http://assembly.state.ny.us/mem/ http://www.senate.state.ny.us/senateh... In the wake of the economic crisis, the conditions facing domestic workers have worsened. Facing alarming rates of lay-offs, cut wages and extended hours, without notice, severance pay or any safety net, now more than ever - domestic workers need the Bill of Rights. For 5 years, domestic workers have come together across communities to organize for dignity and respect, and demand the passage of a Domestic Workers Bill of Rights in New York State, which would include: * Notice of termination * Severance pay, sick

A National Public Radio profile from last year points out that Taiwan has one of the world's best health care systems and it is cost efficient too. All Things Considered, April 15, 2008 · At the end of the 20th century, Taiwan became a rich country, almost overnight. But it still had a poor country's health care - about half the population had no coverage at all. So Taiwan set out to design a national health care system from scratch. What makes Taiwan unique is the way the country figured out how to cover everyone.

My first post here. Just joined. Live in Taiwan and can attest to the brilliance of the healthcare system here. It's a much better model than Canda. (And I'm a Canadian.)

Despite the Corporate media's overly optimistic and distorted reporting of today's employment report, the news was not good at all. The economy continues to lose jobs at a rapid rate. And without the multiple statistical manipulations used to concoct today's report, job losses in August would have been almost -300,000 or more.

"We have a 200-plus-page text riddled with square brackets," Yvo de Boer said at the opening of the Bonn UN Framework Convention on Climate Change informal negotiating session happening now. "And it worries me to think how on earth we're going to whittle that down to meaningful language with just five weeks of negotiating time left." According to Marianne Bom, the head of the UN's Climate Secretariat was referring to 2,000 square brackets indicating unresolved issues.

Don't necessarily agree with all of this, but one of many kissoffs to a president I won't miss, unless Obama manages to be even worse - and with January 20 being so close at hand when I first submitted this to my now invisible Ma.gnolia account, I felt the need to bookmark at least one. Found on Furl.

WARNING: Profanity is present at the other end of this link. Tedious reading, but informative for those who, on hearing a job seeker complain about how he was treated by the people in personnel, think "oh, it's just him complaining". No, not even close. Horror stories from those dealing with Human Resources, and the rest of management, from those lucky enough to have permanent jobs to suffer through. How the neocon and libertarian supported doctrine of "employment at will" has been working out in the real world.

At Fort Hood, the largest military base in the country, it would be assumed that it would have a superior level of security, at least when compared to the streets of New York City, Chicago or some other urban area. People are watched going in and out of the base, they are constantly observed and they are subject to the rules and disciplines of the armed forces. In our cities and towns there is no such surveillance or rules. Malik Nadal Hasan was a known entity, and one whose actions had been under scrutiny. In other words, all of the signs were there if someone wanted to see them...

Since the financial crisis of 2008, one of the most revealing spectacles has been the parade of financial elites who petulantly insist that they are the victims of societal hostility:  political officials heap too much blame on them, public policy burdens them so unfairly, the public resents them, and -- most amazingly of all -- President Obama is a radical egalitarian who is unprecedentedly hostile to business interests.  One particularly illustrative example was the whiny little multi-millionaire hedge fund manager (and CNBC contributor), Anthony Scaramucci, who stood up at an October, 201o, town hall meeting and demanded to know:  "when are we going to stop whacking at the Wall Street pinata?" The Weekly Standard now has a very lengthy defense of -- including rare interviews with -- Charles and David Koch, the libertarian billionaires who fund everything from right-wing economic policy, union-busting, and anti-climate-change advocacy to civil liberties and liberalized social policies -- though far more the former goals than the latter.  In this article one finds the purest and most instructive expression of billionaire self-pity that I think I've ever seen -- one that is as self-absorbed and detached from reality as it destructive.  It's really worth examining their revealed mindset to see how those who wield the greatest financial power (and thus the greatest political power) think of themselves and those who are outside of their class.

Government officials and Quantico Marine base have blocked official visits to PFC. Bradley Manning by Rep. Dennis Kucinich, Amnesty International, and the UN Special Rappateur on torture. According to Manning's attorney, Kucinich, Amnesty, and UN have been trying to get clearance for "official visits" to Manning at the Quantico Marine brig. An "official visit" is different from an "authorized visit" in that an "authorized visit" - one made by family or friends and approved by the brig and Manning - is subject to full surveillance by the brig. An official visit would be one conducted by those officials on government business, and would not be subject to monitoring by the brig. So essentially, the government and the brig are saying you can come visit Manning, but we're going to watch and record every thing you say, and those recordings could be used as evidence against Manning at his trial. Manning's attorney stated that Kucinich, Amnesty, and the UN are not allowed to have an official visit "because none of these individuals are conducting 'official government business.'" This is, of course, ludicrous. Rep. Kucinich is a sitting Member of Congress with a seat on the Oversight Committee, and he submitted official notices to the Department of Defense that he wanted to inspect the conditions of Manning's confinement. Additionally, the UN Special Rappateur on Torture has opened an investigation into Manning's detention and would be visiting in his official capacity. What is the government afraid that Manning will say to these officials when the Brig isn't able to record his every move? If Manning's torture is "meeting our basic standards," as President Obama says, what is there to hide?

If it had been revealed that Jeffrey Immelt once hired an undocumented nanny, or defaulted on his mortgage, he would be forced to resign as head of President Barack Obama's "Council on Jobs and Competitiveness." But the fact that General Electric, where Immelt is CEO, didn't pay taxes on its $14.5 billion profit last year-and indeed is asking for a $3.2 billion tax rebate-has not produced a word of criticism from the president, who in January praised Immelt as a business leader who "understands what it takes for America to compete in the global economy." What it takes, evidently, is shifting profit and jobs abroad: As of last year only 134,000 of GE's total workforce of 304,000 was based in the U.S. and, according to The New York Times, for the past three years 82 percent of the company's profit was sheltered abroad. Thanks to changes in the tax law engineered when another avowedly pro-business Democrat, Bill Clinton, was president, U.S. multinational financial companies can avoid taxes on their international scams. And financial scams are what GE excelled in for decades, when GE Capital, its financial unit, which specialized in credit card, consumer loan and housing mortgage debt, accounted for most of GE's profits. That's right, GE, along with General Motors with its toxic GMAC financial unit, came to look more like an investment bank than a traditional industrial manufacturing giant that once propelled this economy and ultimately it ran into the same sort of difficulties as the Wall Street hustlers. As The New York Times' David Kocieniewski, who broke the GE profit story, put it: "Because its lending division, GE Capital, has provided more than half of the company's profit in some recent years, many Wall Street analysts view G.E. not as a manufacturer but as an unregulated lender that also makes dishwashers and M.R.I. machines." Maximizing corporate profits at the taxpayer's expense is what top CEOs are good at, and after all it

When we study Marx in my graduate social theory course, it never fails that at least one student will say (approximately), "Class struggle didn't escalate in the way Marx expected. In modern capitalist societies class struggle has disappeared. So isn't it clear that Marx was wrong and his ideas are of little value today?" I respond by challenging the premise that class struggle has disappeared. On the contrary, I say that class struggle is going on all the time in every major institution of society. One just has to learn how to recognize it. One needn't embrace the labor theory of value to understand that employers try to increase profits by keeping wages down and getting as much work as possible out of their employees. As the saying goes, every successful capitalist knows what a Marxist knows; they just apply the knowledge differently. Workers' desire for better pay and benefits, safe working conditions, and control over their own time puts them at odds with employers. Class struggle in this sense hasn't gone away. In fact, it's inherent in the relationship between capitalist employer and employee. What varies is how aggressively and overtly each side fights for its interests.