Defenders of the Federal Reserve often argue that we should just let the bank “do its job.” But a recent book shows that democratic forces have challenged this sharp separation between politics and economics throughout America’s history.
Canada has a long history of ignoring its class divide. In recent years, the divide has become a chasm and can no longer be ignored. Accepting that class division is central to the national makeup is the first step in bridging it.
The capitalist system may be turbulent, inequitable, and antisocial. But there is no “iron law” of capital standing in the way of a program of economic planning for sake of the climate.
The US childcare system is a crazy quilt of unaffordable, marketized options for working families. We could learn from Finland and Quebec, which treat high-quality childcare as a basic right underwritten by the state, not a money-making opportunity.
German director Uwe Boll was filming an NYPD drama in New York City last month. On the third day of shooting, crew members say that his producer showed up with a gun. Within a week, they were on strike.
Manchester in the 1980s was home to bands like Joy Division and the Smiths and a world-famous rave scene. The music rose from the conditions of life in postindustrial Manchester — and, ironically, it paved the way for a new wave of capital investment.
Finnish prime minister Sanna Marin’s center-left government lost this past weekend’s elections. Her administration had great promise — but it failed to take the measures that would have delivered real material gains for working-class Finns.
In Chicago’s mayoral runoff last night, Paul Vallas’s vision of budget cuts and law and order lost to Brandon Johnson’s promises to tax the rich and invest in social services.
When he faced prosecutors in New York yesterday, Donald Trump appeared worried about pending cases against him in Washington, DC, and Georgia. Those charges are far more serious than the New York case, indicating that his problems have only just begun.
Governor Kathy Hochul is pushing to gut New York’s signature climate law to effectively allow more methane emissions. She is doing so after receiving nearly half a million dollars in donations from energy corporations and lobbyists advocating for the move.
Since Silicon Valley Bank’s collapse, some commentators have been waking up to the need for a socialization of deposit-taking banking. They’re right — but the same logic leads to a more radical conclusion: a fully socialized capital market, with no private banks.
Belgian Marxist Ernest Mandel popularized the term “late capitalism” to describe the way the system had changed in the postwar decades. Mandel’s work was a landmark in the study of capitalism, and we can still learn a lot from his analysis today.