It’s time to protect pensions from the rapid decline of the fossil fuel industry in addition to their liability and lack of ethics

In June, 2018 Senate Bill 200 was passed in order to address the massive unfunded liabilities of Colorado’s state pension program, the Public Employees’ Retirement Association (PERA). The state’s public pension system has at least $32 billion in unfunded obligations which are being addressed through cuts to retirement benefits for public sector workers along with increases in contributions from taxpayers …

Take It From an Economist, Medicare for All Is the Most Sensible Way to Fix Health Care

By Gerald Friedman, USA TODAY Take It From an Economist, Medicare for All Is the Most Sensible Way to Fix Health Care, April 08, 2019  I’ve spent decades studying US health care. Time to get real: Medicare for All is the only reasonable path to controlling costs and covering everyone. Commercial insurance companies are nothing more than middle men. They add no value to our …

Stiglitz urges joint EU-China trade sanctions against the US on climate change

By Frédéric Simon | EURACTIV.com Mar 28, 2019 Joseph Stiglitz argues that Europe and China should consider climate-related trade sanctions against the US, saying there is a legal precedent at the World Trade Organisation providing them with the legal grounds to do so. [EPA/GIAN EHRENZELLER] Languages: Deutsch  Nobel Prize laureate Joseph Stiglitz has called on Europe and China to join forces against the United States …

Short book highlights from Concrete Economics, a New Consensus recommendation

Central to Hamilton’s view was protecting America’s infant industries, so up went the tariff, about 25% in 1816  Given the huge costs of shipping in the early 1800s, this was a formidable exercise in protectionism as well as a major source of federal government revenues.  And up it stayed, over the opposition of agriculturalists who were buyers, not producers, of …

We CAN afford the Green New Deal and the technology and expertise is available

The Good News About a Green New Deal, The New Yorker, March 2019 Last month’s rollout of the Green New Deal, a fourteen-page legislative resolution, sponsored by Representative Alexandria Ocasio-Cortez and Senator Ed Markey, that called for “net-zero greenhouse gas emissions” through a ten-year “national mobilization,” has sparked a good deal of controversy. The resolution was larded with goals not directly tied …

Taxing Wall Street Transactions – $1 on a $1000 trade

Progressive Tax Takes Aim at Wall Street Transactions, Financial Crashes, Eoin Higgins, Common Dreams, March 05, 2019  National Nurses United for an International Day of Action, Lafayette Square, Washington, D.C. (Photo: Flickr Glyn Lowe Photo Works, @glynlowe). Democrats on Tuesday proposed a tax on Wall Street transactions which could stop another financial crash and bring in $777 billion over the next decade.  “The …

3 key traits of good climate policy, tackling the problems we have and making a large, meaningful impact on carbon emissions and climate change

Good climate policy has 3 key traits: It has a large, meaningful impact on carbon emissions and climate change. It specifically tackles the problems that aren’t already being tackled by the market. It actually gets passed into law. All of that is compatible with a Green New Deal.  In just the past decade, solar power has gone from being uneconomical anywhere on …

A new anti-monopoly movement is happening. Warren is coming out swinging at the right targets

Elizabeth Warren Praised for Plan to Break Up Tech Giants, Andrea Germanos, Common Dreams, March 08, 2019 “A new anti-monopoly movement is happening, and Warren is coming out swinging at the right targets!” says Zephyr Teachout 2020 Democratic presidential hopeful Sen. Elizabeth Warren (D-Mass.) wrote Friday that big technology companies like Amazon have been allowed to accrue too much power—and she’s got …

An increased minimum wage would benefit nearly 40 million Americans. Economists stand in solidarity with low-wage workers. More Inequality News

An increased minimum wage would benefit nearly 40 million Americans Ten years have passed since Congress raised the federal minimum wage to $7.25 per hour, and it has “lost almost 15 percent of its value to inflation” since then, according to EPI’s David Cooper. Cooper’s latest report analyzes the impacts of the phased-in increases proposed in the Raise the Wage Act …