James Galbraith Tells Us What Everyone Needs to Know About Inequality

Inequality has surged in the U.S. over the last forty years; many observers now blame the deregulation and tax cuts for the rich starting with the presidency of Ronald Reagan in 1980. In his new short book, Inequality: What Everyone Needs to Know, James Galbraith explains how this happened through the change in U.S. industrial structure. He offers a surprising recommendation. . . . → Read More: James Galbraith Tells Us What Everyone Needs to Know About Inequality

How a Progressive Tax System Made Detroit a Powerhouse (and Could Again)

In 1995, we encountered a group of economic advisors to Governor John Engler of Michigan, intent on cutting property taxes. We reminded them of California’s 1979 Proposition 13. After Prop. 13 rolled back and froze property taxes, sales taxes reached crushing levels, budget crises became routine, local services collapsed, and public schools fell from the best in the nation to among the worst. But Engler was determined. . . . → Read More: How a Progressive Tax System Made Detroit a Powerhouse (and Could Again)

It Takes Government to Create Markets: Alex Marshall’s The Surprising Design of Market Economies

Conventional economics wittingly or unwittingly provides cover for the One Percent, by professing that “the market” operates benevolently on its own. Alex Marshall gives us an entertaining, thoughtful, and well-written antidote to this dangerous abstraction. . . . → Read More: It Takes Government to Create Markets: Alex Marshall’s The Surprising Design of Market Economies

It Takes Government to Create Markets: Alex Marshall’s The Surprising Design of Market Economies

Conventional economics wittingly or unwittingly provides cover for the One Percent, by professing that “the market” operates benevolently on its own. Alex Marshall gives us an entertaining, thoughtful, and well-written antidote to this dangerous abstraction. . . . → Read More: It Takes Government to Create Markets: Alex Marshall’s The Surprising Design of Market Economies