SOURCE: New York Magazine
by Jonathan Chait
Has the bipartisan Washington elite preoccupation with budget deficits faded since the Obama Administration's troubled efforts to promote economic recovery in 2009? Will austerity wreck Biden's goals too? Jon Chait says that moment has passed.
SOURCE: Times Literary Supplement
by Eric Foner
Eric Foner's review of the first volume of Obama's memoir focuses on the conflict between pragmatism and idealism, and concludes that the 45th President erred in offering bailouts to bankers and expecting cooperation from Republicans, mistakes that crippled his presidency and set the stage for Trump.
by Garrett Peck
The history of the 2000s is a story of human resilience in the face of crisis. We must find ways to respond to disruption with mutual care and creativity.
SOURCE: Foreign Policy
by Adam Tooze
The coronavirus pandemic has been a humiliation for the United States—and confirmation of its unmatched international power.
Financial historian Adam Tooze on the lessons policymakers need to learn, and fast.
“This One Is Scarier”: Obama-Era Officials Say Current Economic Crisis Is Fundamentally Different From 2008
The Great Recession in 2008 was supposed to be a once-in-a-generation economic calamity. Just 12 years later, the United States is facing a far more daunting crisis caused by the coronavirus pandemic.
SOURCE: The Nation
The greatest mistake would be to repeat our errors from the Great Recession.
Economic historian Barry Eichengreen says our leaders ignored many of the key lessons of the Great Depression
by Neil Irwin
“Once we averted a Great Depression, we succumbed to the instinct to do less in order to sustain economic growth.”
by Leonard Steinhorn
Image via Shutterstock."How did a generation that started out with so much going for it end up so despondent in midlife?"So asks the Washington Post in its recent front page story, "Why the sharp rise in suicides by boomers?"
A couple of weeks ago, a wonky data visualization became a viral sensation. Titled "Wealth Inequality in America," it provided a stark illustration of the distribution of wealth in this country. While many of us already know that this country's wealth is tilted in one direction, it's even more shockingly skewed than we thought. To date, the video has received more than 4.3 million views on YouTube.The data in the video wasn't news to Gar Alperovitz, an economist, historian and prolific writer on alternatives to capitalism. The 76-year-old University of Maryland professor wears many hats as a teacher, researcher, activist and filmmaker. His most well-known book, America Beyond Capitalism: Reclaiming Our Wealth, Our Liberty, and Our Democracy, lays out the remarkable array of grassroots ownership strategies that local communities can pursue. Many of them are already familiar, such as food co-ops, and others, like credit unions, have become newly valued in the wake of Occupy Wall Street....
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