The Industrial Revolution transformed America and Europe. In just a century, an economy long powered by wind, water, and muscle became supercharged by steam, coal, and electricity. Canals, railroads, steamships and the telegraph were linking regional economies into a national and global network of exchange.… Read More »Can there be progress without poverty in the 21st century?
The Persistence of Poverty Amid Advancing Wealth “What happens when government abandons its proper role? At the top, we get fraud. Corruption. Gross incompetence. For the rest of us? We get unemployment, inequality, poverty, and inadequate healthcare, retirement, and welfare.” L. Randall Wray, Making Money… Read More »The Great Enigma of Our Times: MMT and GCE
In The Privatization of Everything, Donald Cohen and Allen Mikaelian argue that, over the past four decades, private entities have wrested control of many of the functions of federal, state, and local governments. Free-market ideologues and cost-cutting “small government” bureaucrats have cooperated with business firms… Read More »The Privatization of Everything