Articles tagged with: “the economy”

GDP and income security for all “The economy,” as that term is used by economists, politicians, pundits, and ordinary people, generally refers to GDP, gross domestic product. Here’s an op-ed from the New York Times entitled “G.D.P R.I.P” that discusses why GDP is seriously flawed as a measure of national welfare. After discussing some of [...]

Will 30 million Americans demand income security? Official unemployment is now 9.5 percent, according to the U.S. Department of Labor. As reported in the New York Times: The American economy lost 467,000 jobs in June and the unemployment rate edged up to 9.5 percent in a sobering indication that the most painful downturn since the [...]

To save capitalism, income security for all is imperative. That phrase, “saved capitalism,” is one many historians use to describe Franklin Roosevelt’s actions in response to the Great Depression. We got Social Security; the FDIC, to insure bank deposits; the SEC, to protect investors and restore confidence in financial markets; and other government agencies and [...]

Income security for all is the best and fastest way to fix or heal the economy. But first: Are you tired of news about “the economy”? When you listen to the people on TV and radio – the reporters, commentators, and authors; the bankers, CEOs, and economists; and the politicians, too – do you sometimes [...]

Lot’s of talk this past week about health care reform. Too bad President Obama and the health care reform advocates haven’t yet joined the basic income movement – because a basic income guarantee could be the key to successful reform. Obama has pledged to enact health care reform this year: “When times were good, we [...]

The big news today is neither new nor unexpected: Big job losses. Another 650,000 in February, on top of 600,000 in January. That puts total job losses at more than 4.4 million since December 2007. The unemployment rate is now 8.1 percent, which is higher than its been in more than 25 years. The numbers [...]

On talk radio shows about economic issues, a common theme is gaining steam. Callers denounce government bailouts and handouts to banks, Wall Street, AIG, GM, and so on — and say that, instead, they want government to give money to ordinary people. Give us the money! Not to the people who caused the problems! Depending [...]

Some questions about President Obama’s budget, regarding each item and expenditure: Who benefits? Who, specifically, is getting our taxpayer money? Is that appropriate and cost-effective? Those are fairly obvious, though often not asked, and the answers typically come in a cloud of conventional assumptions and rhetoric. Here’s a fourth: Would that still make sense if [...]

The housing and home foreclosure “crisis” – that’s the word just about everyone is using – has been in the news a lot, with a surge of reporting in recent days. President Obama released his plan yesterday. Too bad almost no one’s talking about a BIG, the basic income guarantee, which would be much more [...]

The numbers have been the lead in many news reports over the past day — 598,000 jobs lost in January. The unemployment rate now 7.6 percent, a one-month jump from the already high 7.2 percent. Reading and listening to the news, it’s interesting to note the abstract, passive language. One formulation I like is “The [...]