Capitalism
A long tradition in US thought has emphasized the importance of economic security for ensuring individual liberty. But to truly realize equal freedom for all, we need a socialist politics fighting for democratic control over the economy. There’s no doubt that individual freedom is fundamental to the American self-conception — as our national anthem has
Capitalism
There are around 2,500 billionaires in the world right now, with a combined wealth of over £10 trillion. Just a fraction of that money is enough to, say, end global poverty, eradicate malaria and re-freeze the Arctic. Instead, a new report reveals billionaires are operating on the “border of legality” and getting away with paying the equivalent of 0
Capitalism
A measure of poverty tracked by the Census Bureau rose in 2022, as COVID era benefits expired and average income fell, according to a Tuesday report. Why it matters: Child poverty saw a sharp increase in 2022 following a record low the year prior. Driving the news: While the official poverty rate (considered an outdated measure) didn’t see a significant change from 2021 to
Capitalism
The 2022 Inflation Reduction Act introduced modest drug pricing restrictions. In response, big pharma companies — which have seen record profits — are threatening to slow the rollout of a lifesaving drug. A Swiss pharmaceutical company announced this month that it could slow-walk bringing a potentially lifesaving drug to market — in order to reduce
Capitalism
THEORY • February 6, 2022 • Michael A. Lebowitz We must put an end to capitalism. To do that, we must know the enemy – capital. We will never defeat that enemy if we do not understand it – its effects, its strengths and weaknesses. If, for example, we don’t know capital as our enemy, then crises
Capitalism
Democratic socialists see the point of socialism as extending democracy from politics to the economy. Defenders of capitalism sometimes push back against this by saying that the masses of ordinary people already control production — through the “price signals” they send through their consumer choices. Libertarian writers Milton and Rose Friedman famously argued in their book Free to