Filed under The 1%

Capital in the Twenty-First Century The Graduate Center, CUNY The Graduate Center, CUNY

The French economist Thomas Piketty (Paris School of Economics) discussed his new book, Capital in the Twenty-First Century at the Graduate Center. In this landmark work, Piketty argues that the main driver of inequality—the tendency of returns on capital to exceed the rate of economic growth—threatens to generate extreme inequalities that stir discontent and undermine … Continue reading »

Piketty Day Notes

 This blog post by Paul Krugman on Thomas Piketty’s book Capitalism in the 21st Century explains some of the reasons this book is getting so much attention. April 16, 2014, 2:21 pm I’m going to be commenting on Thomas Piketty later today, and I thought I would write up my thoughts in advance; this may … Continue reading »

PBS becoming Plutocrat Broadcasting Service

by David Sirota Democrat & Chronicle Sunday, Feb. 16, 2014 page A32 Link to the original longer version on pandodaily WNET Channel 13 NY & PBS response In a world of screaming cable televi­sion hosts and partisan media outlets, PBS is supposed to be the last refuge for honest news. The problem, though, is that … Continue reading »

Report: State of Power 2014, Exposing the Davos Class

The Transnational Institute, in conjunction with, releases its third annual report exposing the “Davos class,” who have caused financial, economic, social and ecological crises worldwide, as the World Economic Forum meets The Transnational Institute is proud to launch its third annual ‘State of Power’ report as the World Economic Forum meets in Davos. This anthology exposes … Continue reading »

Corporations Find a Friend in the Supreme Court

This NY Times story draws on two important reports about the business bias in the current US Supreme Court. Minnesota Law Review Volume 97 Lead Piece, How Business Fares in the Supreme Court by Lee Epstein, William M. Landes, and Richard A. Posner New York University Law Review SIMPLIFIED PLEADING, MEANINGFUL DAYS IN COURT, AND … Continue reading »

No Rich Child Left Behind

by Sean F. Reardon in Opinionator: New York Times Online Commentary The education gap between children from upper income households and middle class households is increasing. Yet one more example of growing inequality in the U.S. Readon is a Professor of Sociology and Education at Stanford University and this piece reviews the evidence for this … Continue reading »

The Rich Get Richer: 2009-2011

Striking it Richer: The Evolution of Top Incomes in the United States (Updated with 2011 estimates) Emmanuel Saez• January 23, 2013 From 2009 to 2011, average real income per family grew modestly by 1.7% (Table 1) but the gains were very uneven. Top 1% incomes grew by 11.2% while bottom 99% incomes shrunk by 0.4%. … Continue reading »

Inequality for All – another Inconvenient Truth?

Inequality for All – another Inconvenient Truth? Carole Cadwalladr The Observer, Saturday 2 February 2013 The powerful documentary Inequality for All was an unexpected hit at the recent Sundance film festival, arguing that US capitalism has fatally abandoned the middle classes while making the super-rich richer. Can its star, economist Robert Reich, do for economics … Continue reading »

CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Contracts, Tax Breaks

CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Contracts, Tax Breaks by Christina Wilkie and Ryan Grim The corporate CEOs who have made a high-profile foray into deficit negotiations have themselves been substantially responsible for the size of the deficit they now want closed.The companies represented by executives working with the … Continue reading »

Occupy: the reasons for our discontent

Occupy: the reasons for our discontent by Mark Greif “People ask me if Occupy will continue, or succeed in anything, if it will change anyone’s mind in power. I really have no idea what to answer. For my part, these letters, bound in print, mean that no one can any longer say that they didn’t … Continue reading »

The Network of Global Capitalists

The red nodes indicate the most central capitalist firms in the global capitalist system and the yellow nodes are somewhat less central. The top 10 list 1. Barclays plc 2. Capital Group Companies Inc 3. FMR Corporation 4. AXA 5. State Street Corporation 6. JP Morgan Chase & Co 7. Legal & General Group plc … Continue reading »