It is an honor and a pleasure to have Paul Krugman at the Lake this afternoon for a conversation on End This Depression Now! Dedicated “To the unemployed, who deserve better,” the book is a condemnation of the policies and mind-set that have produced the worst economic depression since the 1930s. And unlike the Great Depression, which contemporaries did not understand, we know what to do; the current depression is entirely self-inflicted. The broken homes and ruined lives are not attributable to acts of God or the inscrutable logic of the market, but are the direct consequence of public decisions that have amplified the inherent risk of private credit by deregulating financial operations and the attempt to balance the budget when aggregate private demand is collapsing. The central message is that none of this suffering is necessary, and none of it is justified.
|By: Knut Saturday May 19, 2012 1:59 pm|
|By: David Dayen Friday March 30, 2012 10:18 am|
The implosion of Mike Daisey’s Foxconn stories may have, in the short term, returned focus to Apple’s suppliers of their electronic products. Now Foxconn, the notorious Chinese manufacturer, has announced a series of changes to working conditions at the plant.
|By: Phoenix Woman Thursday March 15, 2012 11:05 am|
I learned two useful things that are central to American life today, yet which I have never once heard stated on the radio or TV or read in a newspaper: I learned about the labor shortage that fueled the 150-year period of rising wages in the United States, and I learned about the fact that corporations used to pay a lot more in corporate taxes, especially as an overall percentage of American tax revenues, than they do now.
|By: David Dayen Thursday March 8, 2012 4:00 pm|
In many ways this is the best economic data since the beginning of the recession. The Labor Department reports that unit labor costs have risen above the level of inflation for the first time since the end of 2008. And much of that can be attributed to higher wages, according to the Wall Street Journal.
|By: Attaturk Monday February 13, 2012 1:30 am|
It isn’t just contraceptives the Republicans want to take away:
|By: David Dayen Tuesday January 3, 2012 8:30 am|
During the labor protests of early 2011, Indiana Democrats walked out of the state, denying the legislature a quorum, to protest several bills, among them an education voucher law and legislation making Indiana a “right-to-work” state. Daniels immediately disavowed the latter bill, saying it wasn’t something he wanted to take up; then he was running for President. Now that’s over, and Daniels, going back on his earlier word, supports the right-to-work legislation.
|By: David Dayen Monday January 2, 2012 9:30 am|
The biggest reason I can find for economic optimism in 2012 is a belief that people will eventually have to buy new cars and form households, so why not this year? That appears to be the animating thought behind Matt Yglesias’ cheery forecast in the new year. But the economic story is a lot more mixed.
|By: David Dayen Friday December 30, 2011 8:45 am|
Manufacturing has been a bright spot over the past year in terms of jobs gained. Activity has picked up, and factories are coming back on-line. The problem is that this has come at a cost. Specifically, the US manufacturing jobs of the future feature lower pay and benefits.
|By: David Dayen Monday October 10, 2011 8:01 am|
The sides have been chosen. The political world has made their selections on Occupy Wall Street: Democrats are generally supportive though timid, and Republicans are claiming that it sows social unrest and class warfare. But Occupy movements are growing because Americans can see the difference between financial sector profits and what that sector did to their own paychecks.