This Downturn Could Be Worse Than the Early 1930s
We could experience in months what took three or four years to unfold after the 1929 stock market crash. Things are going to be very bad unless we see some serious structural reforms.
40 Articles by: Doug Henwood
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Doug Henwood edits Left Business Observer and is the host of Behind the News. His latest book is My Turn.
Now Is the Time to Fundamentally Transform America
Our economy is crashing hard and fast. But with a bold set of policies, like nationalizing the banks to fund a Green New Deal, we can save millions of workers from untold suffering — and transform the country in the process.
The Robots Are Not Coming for All of Our Jobs
There’s lots of breathless talk these days about robots replacing all of our jobs. But if you look at the data, there’s little indication that’s actually going to happen.
What’s the Point of Impeachment?
Getting rid of Trump would be great, but Congress isn’t going to do it — we actually have to vote him out. And impeachment, a therapeutic ritual for MSNBC hosts and an act of score-settling by the national security state, isn’t helping.
Paul Volcker Was a Hero of the Ruling Class
Paul Volcker, who died yesterday, won't be mourned by this publication. As Federal Reserve chair under Reagan and Carter, he destroyed millions of working-class jobs and pushed a radical neoliberal program.
Twenty Years After We Shut Down the WTO, the Left Is Finally Resurgent
On November 30, 1999, activists shut down the World Trade Organization meetings in Seattle. The protests were a thrilling moment during bleak times for the socialist left. Now, years of resistance are finally paying off.
Wall Street Doesn’t Believe Elizabeth Warren Is Serious About Medicare for All
Is Elizabeth Warren’s Medicare-for-All phase-in plan a shrewd, realistic tactical move to win a public health system — or a bait and switch to play to M4A’s popularity without actually fighting for it? Wall Street thinks it’s the latter.
Soaking the Rich Is a Great Start — But It’s Not Enough
We should be clear about what it will take to fund a decent welfare state: not just soaking the rich, but raising taxes across the board — so everyone can have the basics for the good life.
Uber Is a Scam
A glance at the company's recently released prospectus reveals the truth about Uber: it’s a scam.
I Can’t Believe Elizabeth Warren Is Losing to These Guys
Elizabeth Warren is no socialist — but unlike most of the candidates beating her in the polls, she’s a tough-minded liberal who makes the right kind of enemies.
Modern Monetary Theory Isn’t Helping
MMT is billed by its advocates as a radical new way to understand money and debt. But it’ll take more than a few keystrokes to change the economy.
Unions Still Haven’t Rebounded
Despite a string of encouraging strikes and labor victories, the latest numbers show that union density fell to a new low last year.
The Move Your Money Hustle
Getting banks under control is a matter of politics, not individual consumer decisions.
The Gig Economy Fantasy
Stories about a new age of precarity are overblown. Workers have had to deal with economic insecurity since the dawn of capitalism.
No, It’s Not a Gig Economy
Precarity isn’t the main problem with the US labor market. It’s that wages are low, benefits are eroding, and work is often dull and sometimes dangerous.
The Disappearing Strike
Strikes are labor's most powerful weapon. But last year they fell to nearly an all-time low.
About That Stock Panic
The stock market's panicked reaction to signs of wage growth shows just how weak the economy is — and how much it caters to the wealthy.
The Boss Recovery
Wages are finally rising. But it's only bosses who are getting the pay hikes.
Trump After One
A Jacobin roundtable on Trump's first year in office.
Unions Held Their Own in 2017
And we're all better off because of it.