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The Ideology of the Free Market – Facts and Fabrications
While neoliberalism pushes its idée fixe of a – so far still unseen – free market, the reality of advanced capitalism in the 21st century looks rather different from the overtly romantic image of an...
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The True Cost Of Billionaire Philanthropy
INTRODUCTION: The news is full of stories about billionaires giving huge gifts to charity. Yet for all but the most generous, their giving is nowhere close to keeping up with the growth in their...
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Media Blame Homelessness on Substance Abuse. The Data Tell a Different Story.
A new study from Pew Charitable Trusts shows that four U.S. cities that saw low rent growth also saw decreases in homelessness. In California, government officials have blamed the Ninth Circuit...
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The World’s Food System Brings Us Inflation, Hunger and Waste
Market fundamentalists would have us believe that if only we left the provisioning of all human needs to the tender mercies of unregulated markets, a cornucopia of fabulous wealth would trickle down to...
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We Can Craft a Workable Workplace Democracy for a Socialist Future
In a socialist society, should workers have democratic control over their own workplaces? For many socialists, the answer is obvious: of course, almost by definition. But among economists who have...
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The Housing Crisis Is Class War
What if there is no housing crisis, but a housing market working exactly as designed? Ricardo Tranjan’s The Tenant Class rests on this premise, effortlessly dismantling apolitical narratives of...
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‘Market Fundamentalism’ Is an Obstacle to Social Progress
Yet markets are just one among many social means of rationing. Anything scarce relative to demand for it raises the same question: Who will get it and who must do without it? The market is one...
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For Supposed Free Marketeers, Capitalists Sure Do Love Manipulating Labor...
On March 14, Meta announced it was cutting some ten thousand jobs from its workforce. In February, former pandemic darling Zoom made about 1,300 cuts to its employee pool. Alphabet, Google’s parent...
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Harvard Has Become a Tax Shelter for Billionaires as Public Education Languishes
On April 11, 2023, Harvard University announced that the billionaire hedge fund CEO Kenneth C. Griffin is donating $300 million to Harvard’s Faculty of Arts and Sciences to fund research and...
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Markets – More Food And More People
In my previous article I asked why we grow food and discussed three different situations: 1) the transition from foraging to farming 2) the first agricultural revolution (with the example of Sweden in...
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‘Break Up Big Ag,’ Says Sanders After Egg Giant Posts 718% Profit Increase
Sanders joined Sen. Elizabeth Warren, Rep. Katie Porter, and others in questioning Cal-Maine Foods’ claim that an avian flu outbreak is to blame for soaring egg prices. U.S. Sen. Bernie Sanders this...
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Playing with Financial Fire
Capitalism, Marx said, is unceasingly prone to crisis. His observation applies as much to financial capital as to industrial capital, as the recent collapse of Silicon Valley Bank and Signature Bank of...
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On the Greed of the Pharmaceutical Industry
(Photo by Ian Hutchinson) Following the news that the CEO of Moderna will accept an invitation to testify in front of the Senate Health, Education, Labor and Pensions Committee next month, Chairman...
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Americans Want Government-Run Health Care—What’s Standing In The Way?
Here’s one of many indicators about how broken the United States health care system is: Guns seem to be easier and cheaper to access than treatment for the wounds they cause. A survivor of the recent...
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Centrica’s Profits Prove Our Energy System Is Built for Shareholders
British Gas’s parent company Centrica announced today that it made its highest-ever profits in 2022: an “obscene” £3.3bn, more than three times as much as the previous year. It also announced its...
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The Market Will Never Solve the Climate Crisis
When oil prices plummeted during the pandemic, fossil fuel companies made vague efforts to invest in clean energy. Now pulling in bumper profits, Big Oil is discarding those initiatives to maintain...
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The 1980s “Yugo”: Worker Self-Management Destroyed by Market Capitalism
Beginning in 1985 the Yugoslavian Zastava Automobile Company began to manufacture and export to the United States a newer version of what became popularly known as the “Yugo”, a steep discount fuel...
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Goldilocks Wants to Eat the Poor
The 19th century English fable Goldilocks tells the story of a young girl who breaks into the home of three bears and eats their porridge. Luckily, they have three different bowls ready for...
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Can the Military-Industrial Complex Be Tamed?
My name is Bill Astore and I’m a card-carrying member of the military-industrial complex (MIC). Sure, I hung up my military uniform for the last time in 2005. Since 2007, I’ve been writing articles for...
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Amartya Sen’s Work Shows Us the Human Cost of Capitalist Development
Amartya Sen is one of the most influential thinkers about development in the contemporary world. Since the 1970s, he has published widely across the disciplines of economics and philosophy. He received...
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