How Federal Reserve policies, the recession they triggered, and broader political and economic changes weakened workers’ power and helped usher in an era of extreme inequality.
A string of primary victories by DSA-backed candidates and other progressives—from New York to Michigan to Florida—is giving the Democratic left new leverage while putting its ambitious economic agenda back at the center of the party’s debate.
Today’s super rich are doing fantastically better, both before and after taxes, than when D&S was founded 35 years ago. In 2006, the top 400 averaged an astounding $263 million each in income, and paid just just 17.2% of their incomes in federal tax. Read more »
A friend once told us that when he first took economics courses, he thought the constant discussion of “the Fed” referred to people who had enough to eat. He kept waiting to hear about “the Unfed.” If he had been starting economics this semester, he could easily have gone on to conclude that the Fed’s goal is to increase the ranks of the Unfed. Read more »