Reconciliation: How the Democrats Can Run the Table
Congressional Democrats will take office in January with the broadest mandate since the post-Watergate midterms in 1974—twice the popular-vote margin the Contract-with-America Republicans won in 1994. The work begins with dismantling most of what Donald Trump and his corrupt, incompetent administration have done over the past two years. Much of what Trump wrought came through his One Big Beautiful (sic)… Continue reading
The Importance of Blaming the Right People for the Wall…
This year’s notorious Supreme Court decision on campaign finance found that corporations have the full rights of individuals, at least in the area of campaign finance. While that ruling may have serious consequences for how we conduct elections, most of us already approach big companies as if they were people — and then, when those companies wreak havoc on the…Continue reading
Memo to the President and other World Leaders: Resist a…
A dangerous and infectious economic idea is spreading around the world. Last week, the liberal majority in the House of Representatives rejected efforts to inject a little more stimulus into the economy; and across much of Europe and Asia, presidents, prime ministers, parliaments and congresses are calling for tighter budgets. Many economies face some genuine threats these days; and suddenly,…Continue reading
Some Hard Truths about Globalization and Jobs
I find myself in Stockholm, an old capital city of a small economy animated by the drive of ingenious entrepreneurs and the extraordinary global success of more native companies than any other nation its size, from Ikea and Erikson to the Tetra Laval packaging giant and the Axel-Johnson conglomerate. Sweden’s economic drive and success are predicated on an acute understanding…Continue reading
The Economics of Immigration Aren’t What You Think
Waves of new immigrants often spark economic anxiety and cultural discomfort, as well as occasional violence and wide-net crackdowns, on the Arizona model. Even here, a nation comprised almost entirely of immigrants and their descendents, we’ve seen these reactions not only in recent times but also a century ago, when waves of poor immigrants from Europe arrived here. With a…Continue reading
A New Plan to Create Jobs—and Address Climate Change
The long-awaited climate proposal from John Kerry and Joe Lieberman (minus Lindsay Graham) is now on the table; and it’s clear already that it has no better chance of being enacted than other failed proposals before it. One informal count this past week finds 26 Senators likely to vote yes and another 11 probable supporters — a total of 37,…Continue reading
Deciphering the Crisis in Greece and Its Significance for America
With the world’s stock and bond markets thoroughly roiled by Greece’s sovereign debt problems, it’s only natural to ask the perennial question, how does it affect us? The outlines of the crisis are certainly familiar. As I've been warning in this space for more than a year, governments around the world would inevitably face serious fiscal problems, dealing with the…Continue reading
How Toyota and Goldman Sachs Stumbled — and We Could,…
Powerful and wildly-successful institutions sometimes act like teenagers and addicts, unable to recognize their own self-destructive behavior. This year’s top two examples are Toyota and Goldman Sachs. After investing decades to develop a sterling reputation for safety and quality, Toyota squandered its brand not by accident, but by myopic design: In a benighted chase for higher profits, Toyota’s top brass…Continue reading
A New Progressive Economic Strategy, Part 4: The Global Economy
In a global economy, even the world’s largest economy by a factor of three (that’s us, compared to Japan and China) cannot by itself ensure job opportunities for everyone and healthy incomes gains for everyone who works hard and well. We may wish it were otherwise, but the United States and the forces of globalization now share control over America’s…Continue reading