Category: economy

Dumping Concrete: a law of capitalism In action – a local example

The May 3rd post “Unbelievable” on our favorite local blog GossipsOfRivertown.blogspot.com caught our attention. This F.H.Stickles concrete truck dumping waste concrete next to a stream running into the Hudson River is a local demonstration of one of the central laws…

United Airlines, Monopoly/Oligopoly, The Natural Laws of Capitalism

The recent incident in which United Airlines used the Chicago Police Department to enforce its corporate policies has already roused plenty of comments. Many have focused on the clumsiness, even callousness of the policy and its later justifications by senior…

Building the New American Economy – Not

The title of this short book, only 130 pages, Building the New American Economy: smart, fair, & sustainable by Jeffrey D. Sachs with a foreword by Bernie Sanders (Columbia University Press, 2017) is unfortunately misleading. There is much here about…

Thoughts on Standard Economics

I’ve been looking through Paul Krugman’s textbook Macroeconomics (Krugman and Wells, 4th edition, 2015) and came on Principle #2 – “The opportunity cost of an item—what you must give up in order to get it—is its true cost….The concept of…

BEHEMOTH (BEI XI MO SHOU) at TSL Hudson

This 2015 movie by Chinese director Liang Zhao is filled with great cinematography and sounds. It trades back and forth between scenes of enormous horizon gulping coal mines, under ground mines, iron making, and ends with scenes of a ghost…

Job (Business) Killing Regulations

Ever since Ronald Reagan told us in his 1981 Inaugural Address, “Government is not the solution to our problem; government is the problem.” government bashing by right-wingers, Republicans and many Democrats has been a constant drumbeat of political rhetoric. Now…

Diversity and Identity Politics Is A Deadend

Progressives have to declare class war as a central strategy. Otherwise we will all be sitting at the dinner table basking in our glorious diversity with nothing to eat. For many good reasons identity and diversity have dominated our politics…

How Much Money Would It Take To Eliminate Poverty in the US?

This 2013 article “How Much Money Would It Take to Eliminate Poverty” (http://prospect.org/article/how-much-money-would-it-take-eliminate-poverty-america) addresses this question. The answer then was $175 billion. This is a ridiculously small number in the context of a $16 trillion GDP. As someone who is on…

The Gig Economy in the Academy – a note

The values of capitalism, especially as expressed through free market (neoliberal) ideology, have come to dominate how we organize our lives. Silicon Valley and the tech sector is busy celebrating the “gig” economy. Companies have simply stopped hiring employees and…