The Democrats' tax-credits for job training idea has been discredited for decades

Chuck Schumer is trying to reconcile the neoliberal and left wing factions in the Democratic party by offering a slate of policies that are supposed to appeal to both sides: some ($15 minimum wage) are solid, but one recommendation is so face-palmingly dumb that it's almost impossible to believe they made the cut. Read the rest

Bloomberg: Middle-class Americans were "fleeced" by neoliberalism

Noah Smith (previously) writes in Bloomberg (!) about the "fleecing" of the Gen-X and Boomer middle class -- a class that is growing continuously smaller and poorer, thanks to "financial deregulation, tax cuts and a lax attitude toward consumer protection and antitrust." Read the rest

Traditional capitalism needs "extra" people, but managerial capitalism has no use for them

The Nation's outstanding roundtable  What Will Kill Neoliberalism? has many admirable interventions (including a notable one from Paul "Postcapitalism" Mason), but the one that got me right between the eyes was William Darity, Jr's "A Revolution of Managers." Read the rest

The electable Mr Corbyn

UK Theresa May called snap UK elections (after promising not to) in order to consolidate power in her own party, shutting up the MPs who didn't fall into line with her policies -- this was the same logic behind her predecessor David Cameron's decision to call a referendum on Brexit, and both banked on the idea that the UK electorate wasn't willing to vote for an "unthinkable" alternative in order to tell the establishment to go fuck itself. Read the rest

Flint threatens to take away 8,000 families' homes for failure to pay bills for poisoned water

The city of Flint, Michigan notoriously poisoned a generation of its children with lead in the water supply, having ignored and covered up reports from whistleblowers and denied complaints from residents. Read the rest

40% of households in Philadelphia can't pay their water bill

America is in the midst of an "invisible water crisis" as the post-war water infrastructure reaches the end of its duty-cycle and cash-strapped public utilities struggle to find the money to rebuild it. In cities like Philadelphia, Atlanta, Seattle, and Detroit, families increasingly find themselves in water debt, and in Detroit, 50,000 households have had their running water cut off because of delinquency. Read the rest

After a century of resisting monopolies, Democrats became the party of finance capitalism and it cost them the election

Monopolies are a well-documented drain on the economy, holding back growth and raising prices to the benefit of the 1% and the detriment of everyone else, and for 100 years, the Democratic party was the party of anti-monopoly, fighting for vigorous anti-trust enforcement, trade unionism, and decentralized power. Read the rest

Tiny, poor, diabetes-wracked Pacific island nations want to ban junk food, despite risk of WTO retaliation

In the poor, remote island nations of the South Pacific, the Type-II diabetes rate ranges from 19% to 34%, a devastating health statistic that is challenging the countries' economies and wellbeing. Read the rest

In the US and UK, retirement is only for the super-rich

Since the neoliberal reforms of the Reagan era; the rollback of trade unions; the elimination of defined-benefits pensions (in favor of "market-based" SIPPs and 401(k)s); the termination of national minimum wage increases and real earnings collapse for working people; the finance-industry fraud that stole so many working peoples' homes during and after the subprime bubble; the massive increases in healthcare costs, the possibility of retiring after 45 or 50 years in the workforce has been snuffed out for nearly everyone. Read the rest

A succinct, simple, excellent description of the problems of neoliberalism and their solution

Ha-Joon Chang, an author and reader in Political Economy of Development at the University of Cambridge, opens his interview about the problems of neoliberalism with Truth-Out by quoting Gore Vidal: Neoliberalism is "free enterprise for the poor and socialism for the rich," where "the rich have been increasingly protected from the market forces, while the poor have been more and more exposed to them." Read the rest

Registered Democrats (mostly young and/or racialised) who didn't vote cost Hillary the election

Fivethirtyeight's analysis of a Surveymonkey data-set shows that Hillary Clinton would have won the 2016 election if registered Democrats had turned out and voted in larger numbers -- in other words, Hillary's failure to convince registered Democrats to vote, rather than abstain, lost her the election. Read the rest

Indiana's "educational achievement" bonuses: teachers in rich schools get 20x more than those in poor districts

Indiana is one of many GOP-led states that assume that the poor performance of schools in poor neighborhoods is the fault of bad teaching -- and not, say, systemic poverty, the absence of funds raised by rich parents, hunger, mass incarceration -- and so teachers are offered bonuses for "improving" their students' outcomes, which generally means their standardized test scores (since presumptively bad teachers can't be trusted to evaluate their students' qualitative improvements). Read the rest

Politics got weird because neoliberalism failed to deliver

Ian Welsh says that the USSR collapsed because its promises -- "a cornucopia and a withering away of the state" -- conspicuously failed to materialize; now, neoliberalism's promises ("If the rich have more money, they will create more jobs; Lower taxes will lead to more prosperity; Increases in housing and stock market prices will increase prosperity for everyone; Trade deals and globalization will make everyone better off") are likewise being shown to be lies, and so we're in crisis. Read the rest

Italy's referendum: a vote against neoliberalism and authoritarianism

Soon-to-be-former Italian PM Matteo Renzi just lost a referendum he called on a set of reforms to Italy's constitution, promising to resign if he lost, which he did; many of Italy's far-right, trumpist and berlusconian elements latched onto the No side of the referendum and pitched it as a kind of Italian version of Brexit, a poll on whether Italy would be another stronghold of gamergate-inflected neo-fascism. Read the rest

Giving companies more money (loans, tax-breaks) only increases investor payouts, not expansion

Before the deregulation bonanza of the 1980s, corporations were expected to use debt and the public markets as the capital of last resort: they would pay "normal" dividends, then use the left over money to increase pay and fund expansion; but after the birth of "shareholder management," companies have acted like homeowners before the financial crisis: borrowing heavily to pay investors, at the expense of expansion and wages -- but unlike homeowners, corporate management gets to duck the bill when it comes due. Read the rest

Trump and Brexit are retaliation for neoliberalism and corruption

Glenn Greenwald frames what I've been trying to articulate: as neoliberalism and its handmaiden, corruption, have swept the globe, making the rich richer, the poor poorer, and everyone in the middle more precarious; as elites demonized and dismissed the left-behinds who said something was wrong; as the social instability of inequality has been countered with increasingly invasive domestic "war on terror" policing, millions of people are ready to revolt, and will support anyone who promises no more business as usual. Read the rest

The Ice Bucket Challenge did not fund a breakthrough in ALS treatment

Yesterday's science-by-press-release announcement that a research team had made a "breakthrough" in treating ALS thanks to funds raised in last year's viral ice-bucket challenge turns out to be vaporware: the gene identified was already known to be implicated in ALS, but only affects 3% of cases, and the new refinement in the research suggests some avenues for further work, but has no immediate therapeutic value. Read the rest

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