Nobel-winning economist Joe Stiglitz calls neoliberalism "a failed ideology" and sketches out a "progressive capitalism" to replace it

Joe Stiglitz (previously) holds a Nobel Prize in Economics (not an actual Nobel Prize), and has been an outspoken critic of the rigged economy and austerity. Read the rest

Business schools are shuttering full-time MBA programs, citing low enrollment, millennials

MBA programs are the origin node of a lot of ugly, exploitative business trends over recent decades (see this excellent documentary for more), and their star is in decline, with MBAs commanding a much lower wage premium after graduation, leading to declining enrollment in full-time MBA programs. Read the rest

Naked Capitalism reviews Radicalized

Naked Captalism is one of my favorite sites, both for its radical political commentary and the vigorous discussions that follow from it; now, John Siman has posted a review of my latest book, Radicalized, which collects four intensely political science fiction stories about our present day and near future. Read the rest

Chase's idiotic poverty-shaming "inspirational" tweet, and Twitter users' magnificent responses thereto

Every Monday, some poor "brand ambassador" at Chase has to post a "Monday motivation" tweet aimed at convincing people that one of America's largest, most rapacious banks is actually a cuddly, responsible business whose $12 billion bailout from Uncle Sam was perfectly justifiable and sure to be put to excellent use. Read the rest

LA school district prepares for strike with army of expensive scabs

30,000 employees of the LA Unified School District are preparing to go on strike tomorrow, demanding a reversal of the trend to privatizing public education. Read the rest

LA's teachers are ready to strike on Tuesday, rejecting privatization of public education

Last year saw a wave of teachers' strikes across America, but mostly in red states where public education has been starved of funds, putting teachers on starvation wages, subjecting kids to dangerous conditions, and stripping schools of resources and even putting schools on four-day weeks. Read the rest

Facing unpaid overtime, cuts and austerity, French cops threaten to join Gilets Jaunes protesters

When French President (and ex-investment banker) Macron decided to cut taxes for the super-rich and make up the shortfall by taxing diesel fuel (widespread in poor rural areas) but not private jet fuel, he put the already-precarious French treasury into an even more precarious state. Read the rest

Yellow Vests stand for and against many contradictory things, but are united in opposition to oligarchy

From a distance, it's hard to understand the nuance of the mass "gilets jaunes" protests that rocked France; with one in five French people identifying as a yellow vest and more vests marching in Basra, Baghdad and Alberta (and with Egypt's autocrats pre-emptive cracking down on the sale of yellow vests ahead of elections), it's clearly a complicated and fast-spreading phenomenon. Read the rest

US tax shortfalls have our public schools begging for donations

Between Trump's massive tax-breaks for the super-rich and rules like California's disastrous Prop 13, our cities perennially cash-starved and have led to the erosion of the same public services that make cities attractive to businesses (for example, the subway, public education, roads, grid and other public services that made NYC so attractive to tax-dodging Amazon for its second headquarters). Read the rest

America is the world's first poor rich country

Americans' median income is $60,000 -- but the average American couldn't stump up $500 to bail themselves out of an emergency, and a third of Americans can't afford food, shelter and healthcare. Read the rest

All of Puerto Rico loses power

1.4 million people in Puerto Rico lost power yesterday in an outage that lasted for a day and left part of the island without power even after service was mainly restored. Read the rest

A hive of scum and villainy: meet the right-wing "Democrats" the DCCC is planning to win 2018 with

Ann Kirkpatrick cast the vote that kept Guantanamo Bay open and voted against cap-and-trade, and has been a consistent opponent of EPA air-quality measures; Jason Crow says he won't take corporate PAC money, so instead he's funded by his law firm which lobbies for casinos, fossil fuel companies (he also opposed gun control after the Aurora shooting happened on his watch in his district, having received large sums from the gun lobby) and he's the beneficiary of Bain Capital's largesse; Paul Davis voted to bar cities from enacting gun control rules, and for a ban on the use of state funds to support gun control lobbying, he's supported drug tests for welfare recipients and a corporate tax cut during the recession. Read the rest

If the UK's minimum wage had risen with its executive pay, the lowest paid jobs in the country would be worth £26K/year

Britain is one of the most unequal countries in the world, thanks to the Tory-in-sheep's-clothing policies of Tony Blair, and the naked banker-coddling and brutal austerity of the real Tories who followed on from Blair. Read the rest

The white supremacist origins of "public choice theory," the bedrock of contemporary libertarian thought

Hang around libertarians long enough and eventually one of them will start talking about "public choice theory" (I last heard it raised by a prominent libertarian scholar to justify corporations imposing adhesion contracts on their customers to force them to buy expensive consumables and service). It's a kind of catch-all theory that can handwave away any negative outcome from unregulated capitalism, the "freedom" of which is key to a kind of libertarian thought, above freedoms like "the freedom not to starve to death". Read the rest

Margaret Thatcher sold off public housing to create "the dignity of ownership" and today 40% of that housing is owned by gouging landlords

The theory behind Margaret Thatcher's sell-off of publicly funded council housing under the "right to buy" scheme was that poor people would buy their houses and then the structural factors keeping them poor would vanish in a puff of smoke, and the poor people would stop being poor (also, and as a completely unintentional side-effect, owning a home is correlated with voting for Tories and renting is correlated with voting Labour, but again, that was totally not what old Maggie was thinking, honestly). Read the rest

How an influential economics paper used imaginary environmental overregulation to spur low-density luxury housing

Why Do Cities Matter? Local Growth and Aggregate Growth is a 2015 paper written by University of Chicago and UC Berkeley economists Chang-Tai Hsieh and Enrico Moretti, which purports to show that the reasons cities are so expensive is that bourgeois NIMBYism drives affluent people to raise spurious environmental challenges to new developments, stalling growth. Read the rest

A viral "angriest librarian" explains why America needs libraries now more than ever

When New Yorker columnist/blowhard Andre Walker "Nobody goes to libraries anymore. Close the public ones and put the books in schools", librarians all over the net gave him what for, and one of the best responses came from self-described "Angriest Librarian" Alex Halpern, a student librarian in Portland, OR, whose tweetstorm went viral. Read the rest

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