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Posts Tagged ‘Economy’

The fact that Wall Street and other corporate executives are not only allowed but helped in gaining so much from the general public while they generally thumb their nose at the general public is not the problem, though it is symptomatic of a serious problem.  The fact that more and more people continue to lose [...]

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If the Occupy movement is to succeed then it must lead us to understand that the economic system is not broken but that it is fundamentally flawed. What we are experiencing is nothing but an ill-conceived system taken to its inevitable conclusion: The privatization of society and the growing divide between the haves and the [...]

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What If

Jonathan Askin, Professor at Brooklyn Law, characterizes the people of Occupy Wall Street as a 21st Century reincarnation of the What If Generation of the 1960’s Vietnam Protesters.  As Askin noted, instead of asking, “what if there was a war and nobody came” today’s protesters are asking such questions as “what if we had bailed [...]

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In a recent article by Paul Krugman spoke to the whining from the elite in Wall Street who believe that the good that they have done for society is not understood, claiming that “finance is the only thing America does well.”   Not only is it telling of where we are as a society that [...]

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Occupy Wall Street is bringing to most everyone’s attention that we, the 99%, are not mere cogs in the economic machinery and those in the executive suite are not our overlords.  I applaud the courage and commitment of those standing up for the rights of citizens.

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Where are we headed? The significant finding in a recent US Census report (Income, poverty, and health insurance coverage in the United States: 2010) isn’t that the poverty rate is highest since 1993.  Rather it is that the poverty rate had been steadily declining between 1993 (15.1%) and 2000 (11.3%) and steadily increasing to its [...]

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Properly reporting and interpreting the movement in the monthly unemployment rate requires one to have an understanding of variation.  Yes, while it may be a surprise to many, monthly outcomes do vary from month to month irrespective of whether there is an identifiable cause—you can call this random noise.  There are also variation patterns that [...]

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Jared Bernstein’s recent article about the existence of two U.S. economies presents data showing the incongruence between corporate profit and (middle–class) compensation—the former with a steady increasing trend and the latter a steady decreasing trend.  These trends are not 2008 recession era trends they have been evident for decades.  The conclusion drawn from these is [...]

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Just how valid is the idea that privatization of society’s services to its citizens ensures the highest quality of service to people in society?  Let’s critically analyze by understanding the precepts of the private economic enterprise. 

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Because economic theory and practice touches much of life in society, its practice has far-reaching implications.   In a recent New York Times OP-ED article Thomas Friedman describes the effects of our consumer-driven growth model of economics upon our future.

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