New York City Nurses Confront an Austerity Avalanche
Medicaid cuts are being used to push austerity in hospitals’ contract negotiations with nurses, even as some hospitals dabble in financial speculation and their CEOs rake in millions.
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Dear Dr. Dollar: Puerto Rico’s Colonial Economy
It seems like Puerto Rico's economic and financial mess came out of nowhere. Until recently, there wasn't much about Puerto Rico in the press, but what there was seemed to portray things as fine, with a generous amount of funds going to the island from Washington. Sometimes, Puerto Rico was held up
Dear Dr. Dollar: A Case for Public Ownership
Dear Dr. Dollar: Would the U.S. economy work better if some industries were nationalized? Banks? Other industries? Which ones and why? —Richard Hobbs, San Jose, Calif.
Dear Dr. Dollar: Inequality in the World
I had thought that neoliberal globalization was making the world more unequal. But recently I have seen claims that the distribution of income in the world has become more equal. Is this true? —Evan Swinerton, Brookline, Mass.
Dear Dr. Dollar: Crony Capitalism, or Plain-Old Capitalism?
Congressional Republicans and the Heritage Foundation are making a big deal about the Export-Import Bank, calling it “crony capitalism.” Are they right? Does the Ex-Im Bank serve a useful purpose, or is it just propping up the profits of trans-national corporations? —Arnie Alpert, Canterbury, N.H.
Dear Dr. Dollar: The Minimum Wage and Inflation
Dear Dr. Dollar: Would an increase of the minimum wage be inflationary? Would more inflation than we have now be a good or bad thing? —Alex Searles, Boston, Mass.
Dear Dr. Dollar: Why the Shift from Production to Speculation?
Why has our economy switched so greatly away from manufacturing that produces real goods and services that provide real value and towards speculative, financial activity--everything from mergers and acquisitions to derivatives, off-shore tax shelters, and other scams? --Glen W. Spielbauer, Dallas,
Dear Dr. Dollar: The Airfare Mystery
Boston is 3,280 air miles from London, only 27% further than the 2,580 air miles from Boston to San Diego. So why does a flight from Boston to London cost more than twice as much as a flight from Boston to San Diego, 100% more, for the same dates? Is it just supply and demand? --Kathleen M. Gillesp
Dear Dr. Dollar: Black-White Income Differences: What’s Happened?
There is a great deal of awareness of the general increase of income inequality in the United States. But what's happened to the income inequality between African Americans and European Americans ("Black-White" inequality)?
Dear Dr. Dollar: Structural Adjustment, Here and There
What are the similarities and differences between structural adjustment in the rest of the world/Third World and structural adjustment in the United States? --Vicki Legion, San Francisco, Calif.
Dear Dr. Dollar: Abolishing the Fed is No Solution to a Real Problem
Is the Federal Reserve, the Fed, as important to the operation of the economy as it seems? How does it work? If it is so important, how can anyone take seriously politicians such as Ron Paul, who calls for the Fed's abolition? --Tom Prebis, Cleveland, Ohio
How important is Citizens United?
Dear Dr. Dollar: People in the Occupy movement and many others are quite concerned about “corporate personhood,” and especially about the Citizens United decision. Did that Supreme Court decision in fact make a crucial difference with regard to the role of money in elections?
Dear Dr. Dollar:
The main narrative that I hear in mainstream press is that U.S. workers are being undercut and eventually displaced by global competition. I think this narrative has a tone of inevitability, that low wages and job loss are driven by huge impersonal forces that we can't do much about. Is this right?