Joe Stiglitz on Inequality, Wealth, and Growth: Why Capitalism is Failing (video; if you don't have 30m, skip to 20m for discussion of political inequality, wealth, credit and monetary policy) - "If the very rich can use their position to get higher returns, more investment information, more extraction of rents, and if the very rich have equal or higher savings rates, then wealth will become more concentrated... economic inequality inevitably gets translated into political inequality, and political inequality gets translated into more economic inequality. The basic and really important idea here is that markets don't exist in a vacuum, that market economies operate according to certain rules, certain regulations that specify how they work. And those effect the efficiency of those markets, but they also effect how the fruits of the benefits of those markets are distributed and the result of that is there are large numbers of aspects of our basic economic framework that in recent years have worked to increase the inequality of wealth and income in our society... leading to a society which can be better described, increasingly, as an inherited plutocracy." [more inside]
The political economy of a universal basic income: "your view of what is feasible should not be backwards looking. The normalization of gay marriage and legalization of marijuana seemed utopian and politically impossible until very recently. Yet in fact those developments are happening, and their expansion is almost inevitable given the demographics of ideology... UBI — defined precisely as periodic transfers of identical fixed dollar amounts to all citizens of the polity — is by far the most probable and politically achievable among policies that might effectively address problems of inequality, socioeconomic fragmentation, and economic stagnation." [more inside]
VC for the people - "It's just that people who have options are much more likely to actually find success than people who don't." [more inside]
From the mid 40s to the mid 50s Coronet Instructional Films were always ready to provide social guidance for teenagers on subjects as diverse as dating, popularity, preparing for being drafted, and shyness, as well as to children on following the law, the value of quietness in school, and appreciating our parents. They also provided education on topics such as the connection between attitudes and health, what kind of people live in America, how to keep a job, supervising women workers, the nature of capitalism, and the plantation System in Southern life. Inside is an annotated collection of all 86 of the complete Coronet films in the Prelinger Archives as well as a few more. Its not like you had work to do or anything right? [more inside]
Citizens United has wrought widespread changes in the election law landscape. Yet, a lesser-known consequence of this watershed case might have a significant impact in the workplace: it may permit employers to hold political captive audience workplace meetings with their employees. Under Citizens United’s robust conception of corporate political speech, employers may now be able to compel their employees to listen to their political views at such meetings on pain of termination. And employers such as Koch Industries are taking full advantage of this. [more inside]
The Control Revolution And Its Discontents - "the long process of algorithmisation over the last 150 years has also, wherever possible, replaced implicit rules/contracts and principal-agent relationships with explicit processes and rules."
It is not our role to take power. It is our role to make the powerful frightened of us. And that's what we've forgotten. Give up that dream! Chris Hedges talks neoliberalism and neofeudalism, the civil rights movement, Camden, Obama, Clinton, Tea Parties, moral nihilism, inverted totalitarianism and corpocracy, NAFTA, welfare reform, health care, labor, poverty, Yugoslavia, post-industrial capitalism, economic crisis, imperial collapse, socialism, and democracy, among other things. [more inside]
Suburban sweatshops. Jorge Bonilla is hospitalized with pneumonia from sleeping at the restaurant where he works, unable to afford rent on wages of thirty cents an hour. Domestic worker Yanira Juarez discovers she has labored for six months with no wages at all; her employer lied about establishing a savings account for her. In 1992, Fordham law professor Jennifer Gordon founded the Workplace Project to help immigrant workers in the underground suburban economy of Long Island, New York. She has written a book ,"Suburban Sweatshops", to describe the experiences of these immigrants. More inside.