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Accidental Deliberations: Tuesday Morning Links

This and that for your Tuesday reading.

- Joseph Stiglitz discusses how Greece has been turned into a sacrificial lamb at the altar of austerian economics: Austerity is largely to blame for Greece’s current depression — a decline of gross domestic product of 25 percent since 2008, an unemployment rate of 25 percent and a youth unemployment rate twice that. But this new program ratchets the pressure up still further: a target of 3.5 percent primary budget surplus by 2018 (up from around 1 percent this year). Now, if the targets are not met, as they almost surely won’t (Read more…)

Accidental Deliberations: Friday Morning Links

Assorted content to end your week.

- Peter Poschen argues that the goals of protecting our climate and ensuring the availability of good jobs isn’t an either-or proposition: (C)limate change and the degradation of natural resources increasingly disrupt economic activity and destroy jobs. The International Labour Organization (ILO) puts the productivity losses generated by climate change alone at 7.2 per cent. Cost estimates by the Organization for Economic Co-operation and Development (OECD) and World Bank are even higher. Environmental sustainability is not an option from a labour market perspective, it is a necessity.

What is more: proactive policies to (Read more…)

Accidental Deliberations: Friday Morning Links

Assorted content to end your week.

- Dylan Matthews reports on Joseph Stiglitz’ work in studying what kinds of systemic changes (in addition to more redistribution of wealth) are needed to ensure a fair and prosperous economy. And Martin O’Neill discusses James Meade’s prescient take on the importance of social assets: Meade therefore came to endorse the extension of the traditional welfare state through the parallel pursuit of both the spread of private property-ownership across all members of society – his ‘property-owning democracy’, which would involve steep taxation of inheritance and capital transfers – and at the same time building (Read more…)

Accidental Deliberations: Thursday Morning Links

This and that for your Thursday reading.

- Joseph Stiglitz laments the corporate takeover of policy-making processes, including by imposing trade rules which impede democratic decision-making: The real intent of [investor protection] provisions is to impede health, environmental, safety, and, yes, even financial regulations meant to protect America’s own economy and citizens. Companies can sue governments for full compensation for any reduction in their future expected profits resulting from regulatory changes.  This is not just a theoretical possibility. Philip Morris is suing Uruguay and Australia for requiring warning labels on cigarettes. Admittedly, both countries went a little further than (Read more…)

Accidental Deliberations: Tuesday Morning Links

This and that for your Tuesday reading.

- Will McMartin highlights the fact that constant corporate tax slashing has done nothing other than hand ever-larger piles of money to businesses who have no idea what to do with it. But Josh Wingrove reports that Justin Trudeau is looking for excuses to keep up the handouts to the corporate sector.

- Joseph Stiglitz offers (PDF) a thorough review of our options in lessening corporate hegemony, while Elizabeth Warren and Rosa Delauro ask why citizens should accept trade agreements being written in secret by and for the corporate sector. And David Dayen (Read more…)

Accidental Deliberations: Sunday Morning Links

This and that for your Sunday reading.

- Michael Kraus, Shai Davidai and A. David Nussbaum discuss the myth of social mobility in the U.S. And Nicholas Kristof writes that inequality is a choice rather than an inevitability: Yet while we broadly lament inequality, we treat it as some natural disaster imposed upon us. That’s absurd. The roots of inequality are complex and, to some extent, reflect global forces, but they also reflect our policy choices. In his new book, “The Great Divide,” Joseph Stiglitz, the Nobel Prize-winning economist, includes two chapters whose titles sum it up: “Inequality (Read more…)

Accidental Deliberations: Friday Morning Links

Assorted content to end your week.

- Bill McKibben argues that Bernie Sanders’ run for the presidency should have massive positive impacts extending far beyond both Sanders’ central theme of inequality, and international borders to boot. And Salon interviews Joseph Stiglitz as to how inequality and the economy will affect the 2016 presidential campaign.

- Hannah Giorgis writes that a more fair economic system is a must in order to address historical racial inequities in the U.S.: To stifle a community slowly, without the decisive replay value of a chokehold, you criminalize poverty while withholding the resources needed (Read more…)

Accidental Deliberations: Sunday Morning Links

This and that for your Sunday reading.

- Scott Santens links the themes of health and equality by suggesting that we treat a basic income as a needed vaccine against poverty and all its ill effects.

- Erika Eichelberger and Dave Gilson highlight how U.S. corporations are siphoning money offshore to avoid paying their fair share of taxes. And Kate Aronoff warns us that the mindless extraction of profits is producing environmental and financial crises alike: Between debt and our slowly roasting planet, we’ll be lucky to walk away from the next 25 years with just one crisis. There (Read more…)

Accidental Deliberations: Monday Morning Links

Miscellaneous material to start your week.

- Larry Elliott writes that at least some business leaders are paying lip service to the idea that inequality needs to be reined in. But Alec Hogg points out that at least some of the privileged few are using their obscene wealth to remove themselves from the rest of humanity, rather than lifting a finger to help anybody else.

- Meanwhile, Joseph Stiglitz observes that sheer stubborn stupidity on the part of austerians is doing untold damage to the global economy. But Jon Henley notes that in advance of Syriza’s election victory, a new (Read more…)

Accidental Deliberations: Thursday Morning Links

This and that for your Thursday reading.

- Duncan Exley points out that the UK has nothing to be proud of when it comes to income inequality. And Bill Curry reports on the Cons’ full awareness that the temporary foreign worker program was both taking jobs away from Canadian youth, and allowing employers to pay far less for foreign labour.

- DSWright highlights how Joseph Stiglitz appears to have been rejected by Republicans for a position advising on the U.S. financial system solely because he’s dared to express the opinion that regulators shouldn’t see their job as catering to (Read more…)

Accidental Deliberations: Tuesday Morning Links

This and that for your Tuesday reading.

- Sam Pizzigati interviews Richard Wilkinson and Kate Pickett about the fight against inequality and the next piece of the puzzle to be put in place: [Pickett:]…In The Spirit Level, we have all these correlations between inequality and social problems, and we have theories and hypotheses about what is driving these correlations. But we didn’t know then whether or not the drivers we hypothesized — things like status anxiety — were actually higher in more unequal countries. Now those kinds of data are being used increasingly in psychological research. (Read more…)

Accidental Deliberations: Sunday Afternoon Links

This and that for your Sunday reading.

- Alex Himelfarb writes about the corporate push to treat taxes as a burden rather than a beneficial contribution to a functional society – and why we should resist the demand to slash taxes and services alike: How is it that we don’t now ask of these tax cuts upon tax cuts: What will be the consequences for these public goods, goods that most of us continue to value, that demonstrably contribute to the general welfare? In part the answer may be that we devalue public goods because they are not priced and (Read more…)

Accidental Deliberations: Tuesday Morning Links

This and that for your Tuesday reading.

- Lynn Parramore interviews Joseph Stiglitz about the spread of inequality, along with the need for a strengthened labour movement to reverse the trend: LP: In your paper, you indicate that the power of the 1 percent to exploit the rest seems to be increasing. Why is this happening? Are there limits to this exploitation?

JS: In a more careful, academic way of putting it I would say that one of the explanations of what is going on is increased exploitation. You see the ratio of wages to productivity going way down, and (Read more…)

Accidental Deliberations: Wednesday Morning Links

Miscellaneous material for your mid-week reading.

- The 25th anniversary of Parliament’s unanimous – if failed – commitment to eliminate child poverty has given rise to plenty of worthwhile commentary. Marco Chown Oved talks to Ed Broadbent about what the resolution meant at the time (as well as how it came to be ignored), while also interviewing social justice advocates about the need to effective start from scratch now. And Olivia Carville explores one life which could have been changed for the better if Canada had made good on its promise.

- Meanwhile, Dennis Raphael discusses the need to combat (Read more…)

Accidental Deliberations: Monday Morning Links

Miscellaneous material to start your week.

- The Star points out what the Cons have destroyed – including public assets and program spending – in order to chip away at the federal deficit caused in the first place by their reckless tax slashing. And Thomas Walkom discusses how their latest “job” scheme does nothing but handing free money to businesses, while Angella MacEwen notes that Canada as a whole is hundreds of thousands of jobs short of reaching its pre-recession employment rate.

- Meanwhile, Bruce Cheadle writes that the Cons’ attempt to build an economy solely around resource exploitation has (Read more…)

Accidental Deliberations: Sunday Morning Links

Assorted content for your Sunday reading.

- The Tyee’s recent series on important sources of inequality is well worth a read, as Emily Fister interviews Andrew Longhurst about precarious work and Sylvia Fuller about the role of motherhood.

- David Cole asks just how corrupt U.S. politics have become, while Frances O’Grady observes that U.K workers don’t believe for a second that their employer can’t afford to pay living wages. Robert Reich sees Detroit as a prime example of wealthy individuals shirking their responsibility to pay for the public goods they enjoy. And Joseph Stiglitz notes that gross (Read more…)

Accidental Deliberations: Saturday Morning Links

Assorted content for your weekend reading.

- Joseph Stiglitz writes that while we should expect natural resources to result in broad-based prosperity, Australia (much like Canada) is now turning toward the U.S. model of instead directing as much shared wealth as possible toward the privileged few: There is something deeply ironic about Abbott’s reverence for the American model in defending many of his government’s proposed “reforms.” After all, America’s economic model has not been working for most Americans. Median income in the US is lower today than it was a quarter-century ago – not because productivity has been (Read more…)

Accidental Deliberations: Saturday Morning Links

This and that for your weekend reading.

- Joseph Stiglitz wraps up the New York Times’ series on inequality by summarizing how the gap between the rich and the rest of us developed, as well as how it can be reduced: The American political system is overrun by money. Economic inequality translates into political inequality, and political inequality yields increasing economic inequality. In fact, as he recognizes, Mr. Piketty’s argument rests on the ability of wealth-holders to keep their after-tax rate of return high relative to economic growth. How do they do this? By designing the rules of the game (Read more…)

Accidental Deliberations: Tuesday Morning Links

This and that for your Tuesday reading.

- Gary Engler explores Thomas Piketty’s Capital in the Twenty-First Century from the perspective of a reader who’s far more skeptical than Piketty about the prospect of tinkering around the edges of our current corporatist economic system. And Seth Ackerman writes that Piketty’s observations look like compelling evidence challenging the doctrine of marginal productivity theory which is taken as an article of faith by laissez-faire fundamentalists.

- Meanwhile, Bill Moyers interviews Joseph Stiglitz about corporate tax evasion. And Michael Madowitz points out what we should have learned about austerity economics by now: There (Read more…)

Accidental Deliberations: Friday Morning Links

Assorted content to end your week.

- Joseph Stiglitz offers his suggestions (PDF) for a tax system which would encourage both growth and equality: Tax reform…offers a path toward both resolving budgetary impasses and making the kinds of public investments that will strengthen the fundamentals of the economy. The most obvious reform is an increase in the top marginal income tax rates – this would both raise needed revenues and soften America’s extreme and harmful inequality. But there are also a variety of other effective possible reforms related to corporate taxation, the estate and inheritance tax, environmental taxes, and (Read more…)

Accidental Deliberations: Friday Morning Links

Assorted content to end your week.

- Linda McQuaig writes that while the Cons don’t want to bother listening to the public about much of anything, they’ll always make time for a disgraced former advisor lobbying on behalf of oil barons: In…new RCMP allegations,… [Bruce] Carson was working for the Energy Policy Institute of Canada (EPIC), described in the media as a “non-profit group formed by business organizations in the energy sector.”

This rather benign description fails to convey what EPIC really is: a lobbying vehicle for dozens of extremely wealthy, powerful fossil fuel companies, including Enbridge, Imperial (Read more…)

Accidental Deliberations: Sunday Morning Links

This and that for your Sunday reading.

- Eduardo Porter writes about the rise of inequality in the U.S., while Tracy McVeigh reports on the eleven-figure annual cost of inequality in the UK. And Shamus Khan discusses the connection between inequality and poverty – as well as the policy which can do the most to address both: While a tiny fraction of Americans enjoy almost all the spoils of our national growth, the majority of Americans have a radically different experience. About 40 percent of Americans will live in poverty at some point in their lives, and many (Read more…)

Accidental Deliberations: Sunday Morning Links

Assorted content for your Sunday reading.

- Michael Hiltzik writes about the efforts of the corporate sector – including the tobacco and food industries – to produce mass ignorance in order to preserve profits: Proctor, a professor of the history of science at Stanford, is one of the world’s leading experts in agnotology, a neologism signifying the study of the cultural production of ignorance. It’s a rich field, especially today when whole industries devote themselves to sowing public misinformation and doubt about their products and activities.

The tobacco industry was a pioneer at this. Its goal was to erode public (Read more…)

Cowichan Conversations: The Gross Domestic Product (GDP) Is A Flawed Tool

Rob Douglas

A couple of weeks ago, it was reported that Canada’s economy had grown by a modest 0.2 per cent during the last month on record, the fifth consecutive month of growth.

This was greeted as good news, as we define a healthy economy as a growing economy, and track our success with a tool called the gross domestic product – or GDP.

GDP measures the total value of all goods and services produced in a country within a specific period of time, such as a quarterly or annual basis.

For example, every time a grocery store sells (Read more…)

Accidental Deliberations: Sunday Afternoon Links

Assorted content for your Sunday reading.

- Joseph Stiglitz discusses the link between perpetually-increasing inequality and the loss of social trust: Unfortunately, however, trust is becoming yet another casualty of our country’s staggering inequality: As the gap between Americans widens, the bonds that hold society together weaken. So, too, as more and more people lose faith in a system that seems inexorably stacked against them, and the 1 percent ascend to ever more distant heights, this vital element of our institutions and our way of life is eroding.

The undervaluing of trust has its roots in our most popular economic traditions. (Read more…)