economic

'You Can't Eat GDP': Workers Are Still Struggling - Even As Trump and Corporate Media Tout Economic Growth

As President Donald Trump and corporate media outlets on Friday enthusiastically touted new GDP figures showing that the U.S. economy grew by 4.1 percent in the second quarter of 2018, many economists and progressive commentators were quick to counter the glowing headlines by pointing out that corporations and the rich are feasting on most of the growth while workers see their wages fall.

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How Bitcoin and Amazon Are Ravaging the Middle Class

As 2017 drew to an end, it was perhaps fitting that Congress chose to close out the year with the passage of a tax bill that does more to redistribute wealth to the already wealthy than any other piece of legislation since the Gilded Age.

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Trump Is Trying to Run the Government Like His Businesses: This Is Really Bad News for America and the Globe

During the 2016 election campaign, Donald Trump repeatedly emphasized that our country was run terribly and needed a businessman at its helm. Upon winning the White House, he insisted that the problem had been solved, adding, “In theory, I could run my business perfectly and then run the country perfectly. There's never been a case like this.”

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To Many, America’s Racial Wealth Gap Remains Invisible

In 1992, Andrew Hacker described the state of race relations in America as "separate, hostile, unequal." He could have easily added "delusional" and "confused." 25 years later, such a description remains all too accurate.

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Matt Taibbi: Trump's All White Male Economic Team Includes 'Financial Crisis Villain' John Paulson

In his economic policy speech Monday, Donald Trump vowed to slash corporate taxes and end the estate tax. He also said he would reject the Trans-Pacific Partnership and renegotiate trade deals including NAFTA, the North American Free Trade Agreement. This comes after Trump announced his economic team, which includes 13 men, no women, several billionaires, an Oklahoma oil baron and one part-time professional poker player. For more on Donald Trump’s speech on his economic plan and his team, we speak with Matt Taibbi, an award-winning journalist with Rolling Stone magazine. He’s been closely following the Trump campaign. One of his recent pieces is headlined "A Republican Workers’ Party?"

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AlterNet Comics: Jen Sorensen on the Fallout From the Panama Papers

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It's Just a Matter of Time Before This Deepening Economic Decline Crashes Into the 2016 Election

If this bizarre election year needed one thing twist, it is now likely to play out against a deepening economic crisis. Advantage: Trump and Sanders.

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Jeb Bush's Cruel Economic Prescription for Americans to Work Longer Hours Is Worthless

Americans work a lot; in fact, they spend more hours on the job than workers in many other industrialized countries. But many have wondered if working even more hours might boost economic growth rates. Simply put, does working longer hours help the economy? GOP presidential candidate Jeb Bush has recently chastised American workers, saying, “People should work longer hours.” The truth is, there's not much economic justification for that view.

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Think About It: The U.S. Is the Richest Country as Well as the Most Unequal: 8 Consequences of American Greed

America is the richest country in all of history. We have the largest economy and the largest number of millionaires and billionaires. At the same time, we lead the developed world in economic inequality. In 1965, CEOs received $20 for every dollar earned by the average worker. Today the gap is $354 to $1.

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Meet the Billionaires Using Their Immense Wealth to Make Life Miserable for Ordinary Americans

Here is how it works these days: You start hearing about a big, national problem and then it becomes a drumbeat. First there are a few articles and columns mentioning that such-and-such is a problem. Then a number of articles appear, then a “study” from a “think tank” confirms the problem and sounds the alarm about how terrible it is, and then just as the issue seems to be the only thing you are hearing about a solution is presented. Of course, the solution always involves taking something away from you and giving it to some company or industry standing in front of a billionaire or three. The right question to start asking when you hear about these “problems” is which billionaire is driving this.

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