Chelsea Green Publishing

Why Is Obama’s Treasury Dept. Perversely Siding With Big Banks Against Elizabeth Warren and the State AGs?

American families are fortunate to have Elizabeth Warren on their side, along with the 50 state attorney generals who are demanding reparations from the nation’s largest banks. Warren, who is the temporary head of the Consumer Financial Protection Bureau (a quasi independent agency housed in the not-so-friendly Treasury Department) and these AGs are demanding justice. […]
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The Real Story of Our Economy: Why Our Standard of Living Has Stalled Out

Do public sector workers earn more than private sector workers? Who cares? This boneheaded question has us fighting over the crumbs. (And the answer is no – all credible studies show that when you account for educational levels, the total compensation packages are about the same.) The real question is: Why have most workers seen […]
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Is Corruption on Wall Street All in the Eyes of the Beholder?

Japan’s Nikkei share average plunged 10.6 percent on Tuesday, posting the worst two-day rout since 1987, as hedge funds bailed out after reports of rising radiation near Tokyo. ~ Reuters, March 15, 2011 While it’s far too early to assess the full impact of the Japanese disaster on markets around the globe — let alone […]
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Main Street Goes to War Against Itself as Job Crisis Persists

The February unemployment rate is 8.9 percent. The broader Bureau of Labor Statistics U6 jobless rate is 15.9 percent. The report shows a net increase of 192,000 jobs. However, we need 127,000 new jobs every month to keep up with population growth. At this rate it will take 11.2 years to get back to full […]
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When Will We Face Up to the Enormity of the Jobs Crisis?

“If future job creation reaches about 208,000 jobs per month, the average monthly job creation for the best year for job creation in the 2000s, it will take almost 140 months (about 11.5 years) to reach pre-recession employment levels. In a more optimistic scenario with 321,000 jobs created per month, the average monthly job creation […]
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How To Earn $900,000 an Hour while Unemployment Soars

Let’s be honest. Wouldn’t you like to rake in a cool $900,000 for one hour’s work? No? Still have hippie ideals, perhaps? You could work for just 10 minutes and walk off with $150 k. Push yourself to work one entire day and we’re talking $7.2 million. Hang in there for a month, and you’ll […]
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Why the Idiocy About Unemployment?

This originally appeared on The Huffington Post. My wife, a labor economist, is upset with NPR’s “The Take Away” (and many other news programs) for reinforcing the myth that somehow the unemployed are to blame for not having a job. We all should be angry as well because the jobs just aren’t there. In fact, […]
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Les Leopold: Why the Wall Street – BP Double Standard?

This originally appeared on The Huffington Post. “In reality, credit pollutants pose the same kind of threat to our economy as chemical toxins do to our environment. Like their chemical counterparts, they tend to concentrate in the weakest and most vulnerable parts of the financial system, and that’s where the toxic effects show up first: […]
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Are the Unemployed Causing Unemployment?

Is it good news that the hiring of 411,000 temporary census workers finally made a small dent in our enormous jobs crisis... at least temporarily? Shouldn't we now listen more carefully to Senator Judd Gregg of New Hampshire who wants to cut off extended unemployment benefits?
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An Open Letter to the Ten Wealthiest Financiers in America: You’re Not Worth $900,000 an Hour!

On behalf of the 3 million young people who would have been their students, I have a proposition for you: Donate 50 percent of your 2009 earnings to keep those 150,000 teachers in their classrooms. Each of you, on average, still would net over $935 million dollars for the year (you should be able to scrape by on that) --- and the money you'd forgo would ensure that 3 million kids would get an education.
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