Economy

  • Several doctrines for the same shock

    The policy of governments in industrialized countries is now crystal clear: make their own citizens foot the bill for the crisis.

  • Capitalism's global slump

    David McNally's new book Global Slump explains the roots and nature of a new epoch of economic crisis, austerity and working-class resistance.

  • Wishing won't make it so

    In contrast to the happy talk about economic recovery in the business press, slumping home prices and stagnating employment tell another story.

  • For an end to the debt crisis

    The president of the Committee for the Abolition of Third World Debt looks at the global debt crisis--and how some smaller nations are refusing to pay.

  • Blame the wars, not China

    Don't believe the growing chorus that blames China--the U.S. government deficit problem has one source: addiction to war and empire.

  • The cuts they won't consider

    Instead of making working people pay the price for reducing the federal deficit, how about raising taxes on the rich and cutting the Pentagon budget?

  • The few, the proud, the filthy rich

    "Got it, flaunt it" is the rule again for the super-rich after a few difficult years--and yet the wealthy are acting like they are the persecuted ones.

  • Golden economic follies

    Should we take seriously the idea, promoted by World Bank president Robert Zoellick, to partially root the monetary system in gold?

  • The knives behind the smiles

    Cooperation has given way to backstabbing at the G20 summit as industrialized nations try to push the costs of the world economic crisis onto each other.

  • Welcome to the new normal

    My mom has found herself among the long-term unemployed who are struggling in the suburbs where the American Dream is supposed to thrive.

  • Waiting for unemployment

    When I found a spot in the corner at the unemployment office, number 80 was called. The person to my left was holding 169.

  • The broken mortgage promise

    If you want to get to the roots of the foreclosure epidemic, you need to go back to the beginning--mortgage applications.

  • How the banks got us coming and going

    After marketing millions of lousy mortgages, the banks are now breaking the law in their rush to foreclose.

  • The two Americas

    With poverty on the rise and long-term unemployment at record levels, most families in the U.S. are scrambling to get by. But some are doing just fine.

  • The cuts that will leave nothing behind

    State budget cuts in social services are so deep that many programs and agencies are disappearing--precisely at a moment when they're needed most.

  • The baddest Apple in a rotten bunch

    Apple Computer scrambled to the top of the high-tech heap by exploiting sweatshop labor and following a cutthroat marketing strategy.

  • Headed for a double dip?

    After weeks of the White House touting a recovery, the latest jobs numbers and a Federal Reserve statement have put a spotlight on the weak economy.

  • Philanthrobbery

    Bill Gates and Warren Buffett have gotten 40 billionaires to take the "Giving Pledge." But the truth is the rest of us are getting taken.

  • Banking on hunger

    Goldman Sachs gambled on food, and its bets paid off big--at the cost of an international food crisis that inflicted hunger on hundreds of millions.

  • Letting Wall Street off the hook

    At a time when the public holds Wall Street in contempt, the Democratic Congress managed to pass a law that caters to the banksters.

  • Part 2

    The human recession

    We're dealing with a protracted slump in which all the classic neoliberal tactics of attacking the working class are being intensified.

  • Part 1

    The mutating crisis of global capitalism

    This is an economic crisis that keeps mutating, generating new kinds of illnesses in the system--so with every "cure" comes signs of damage elsewhere.

  • A "get out of jail free" card for Wall Street

    It's clear that Wall Street and its army of lobbyists won the battle to keep financial reform legislation from making any real changes at the big banks.

  • The return of austerity

    After spending trillions to prop up the banks and other financial institutions, governments spooked by the Greek debt crisis are cutting social spending.

  • Rescuing Greece or the banks?

    A $1 trillion bailout from the European Union will prop up the euro and big banks--while workers in Greece and beyond suffer huge cuts in living standards.