This Labor Day as we honor the workers of America we should also be mourning the loss of the middle class that was almost single-handedly created by Henry Ford in 1914. Ford understood that he could sell more Model Ts if his own workers could afford them. So he dramatically increased the pay of his […]
When Capitalists Cared Read More »
Count your blessing that the United States did not put deficit reduction over stimulating jobs as our solution to the Great Recession. Europe’s austerity approach has given them no blessings to count. “The euro zone’s…economy shrank in the second quarter, having flatlined in the first, despite continued German growth which economists said could soon be
Euro zone austerity shrinks economy Read More »
The rallying cry of government budget cutters in the austerity vs. stimulus debate is that they don’t want to burden our children and grandchildren with the country’s debt. That certainly is a more appealing argument than the “austerity leads to a healthier economy” baloney. The evidence is all too clear that while the U.S. economy
Austerity’s other failure—babies abandoned in a box Read More »
Small businesses again led the way with 44.8% of the 163,000 new jobs creating in July according to the ADP National Employment Report. Compared to the sluggish new job growth of 75,000 average per month from April to June, the new data is a welcome sign of a still growing economy. The European “austerity” countries
USA winning the economic Olympics Read More »
Back in early 2010 when many of us were working to pass financial reform in Congress, we were calling for “banks to be banks not gambling houses” (see my op.eds in The Hill and the Pittsburgh Post-Gazette). The great recession largely resulted from bank deregulation in the 1990s that repealed the 1933 Glass-Steagall Act that
Gold that should have never been chased Read More »
The Huffington Post 6/24/2012 By Lisa P. Jackson–chief administrator of the Environmental Protection Agency David Levine–co-founder and CEO of the American Sustainable Business Council For many years, we have been told that we have to choose between growing the economy and protecting the environment — especially as we worked to recover from the sharp
A Time for Bold Action to Build a Sustainable Economy Read More »
I’m in DC today for the American Sustainable Business Council Summit for a Sustainable Economy at the White House. This morning I am moderating a panel on sustainable economic growth. The panel participants are Gary Guzy, Deputy Chair for the Office on Environmental Quality (the office in the White House that oversees all environmental and
In DC Today for Sustainability Summit Read More »
In the past 12 years we have witnessed two of the biggest failed experiments in how to improve the economy of countries. The first experiment was here in our country. In the 2000s we went on a tax-cutting spree for the wealthiest Americans, allowed multinational corporations to drastically cut their income taxes through offshore tax
Failed economic experiments Read More »
Everyone knows that China holds much of our government debt. While that might sound ominous, the reality is that China needs the U.S. economy to be successful if it wants to keep getting paid on their investment. It’s not like China can simply take over our federal government if we don’t pay them. Our economy
The Chinese are now truly coming Read More »
The U.S. stock market is in crisis. Small investors continue to get out of stocks. Read about the problem and one possible explanation in the stories below. Tomorrow I’ll talk about an alternative for small investors. New York TimesMay 7, 2012Stock Trading Is Still Falling After ’08 CrisisBy NATHANIEL POPPER Even though American stocks have
Trading in stocks down Read More »
