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by Jeffrey Madrick
Thomas Piketty’s 700-page book, Capital in the Twenty-First Century, has stunned both the economic profession and most political observers. But the economic mainstream is not truly dealing with its most serious implications even as they widely praise his work.
by Eric Zuesse
A study, to appear in the Fall 2014 issue of the academic journal Perspectives on Politics, finds that the U.S. is no democracy, but instead an oligarchy, meaning profoundly corrupt, so that the answer to the study’s opening question, "Who governs? Who really rules?" in this country, is:
by Michael Winship
The US Senate on Wednesday held its first hearing on the proposed Comcast-Time Warner deal — a $45 billion transaction that will affect millions of consumers and further pad some already well-lined pockets — so now seems a good time to look at how our elected officials have benefitted from the largesse of the two companies with an urge to merge.
Although the ultimate decision will be made by the Federal Communications Commission and the Justice Department, according to the Sunlight Foundation, a reliable, nonpartisan watchdog, “The number one and number two cable providers in the country are also big-time on the influence circuit, giving upwards of a combined $42.4 million to various politicians and groups since 1989.
The Sunlight Foundation’s Influence Explorer tool also shows that the two companies have spent a combined $143.5 million lobbying Congress since 1989 on issues including telecommunications, technology, taxes and copyright.
by Robert Reich
Momentum is building to raise the minimum wage. Several states have already taken action — Connecticut has boosted it to $10.10 by 2017, the Maryland legislature just approved a similar measure, Minnesota lawmakers just reached a deal to hike it to $9.50. A few cities have been more ambitious — Washington, D.C. and its surrounding counties raised it to $11.50, Seattle is considering $15.00
Senate Democrats will soon introduce legislation raising it nationally to $10.10, from the current $7.25 an hour.
All this is fine as far as it goes. But we need to be more ambitious. We should be raising the federal minimum to $15 an hour.
Here are seven reasons why:
by John Nichols
Many thoughtful media reports on the remarkable address that Massachusetts Senator Elizabeth Warren gave at the Minnesota Democratic-Farmer-Labor Party’s Humphrey-Mondale Dinner have focused on the fact that she took apart Paul Ryan.
There is no question that the senator from Massachusetts shamed the congressman from Wisconsin.
One report was headlined: “Elizabeth Warren schools Paul Ryan on poverty in 80 seconds.”
Another announced: “Elizabeth Warren Picks A Fight With Paul Ryan.”
Still another reported: “Elizabeth Warren Slams Paul Ryan On Inner City Culture Comment.”
All true. All accurate.
by Paul Buchheit
The following are all relevant, fact-based issues, the "hard news" stories that the media has a responsibility to report. But the business-oriented press generally avoids them.
by Medea Benjamin and Cayman Kai