Why Americans can't stop working: the poor can't afford to, and the rich are enjoying themselves

c4JrOJqVLG2rYS8.wJJf1g_b

Ever since Keynes's seminal 1930 paper Economic Possibilities for our Grandchildren predicted that technological progress would virtually eliminate work by making labor much more productive, economists have puzzled over why Americans' working hours have gotten longer and longer, until they are some of the longest in the world. Read the rest

Marx's prescient predictions for the 21st century

In Rolling Stone, Sean McElwee enumerates five of Marx's predictions for late-stage capitalism that have largely come true in the 21st century, from globalization to the boom in luxury goods (what Marx called "imaginary appetites"): Read the rest