Thanks to the media, most Americans today still have this understanding backwards from reality. As we will see, there was a brief period after the Second World War during which an intense fear of social unrest produced a kind of “enlightened corporate self-interest” that resulted in a benign labor landscape, but that illusion was dispelled... Read More

What would Adam Smith have said about the Bowles-Simpson economic report last week? What a pity the great free marketer was not around to serve on the Deficit Reduction Commission. He not only would have rolled over in his grave, he would have risen up wielding an ax to the fiscal proposals that are diametrically... Read More

An Interview with Economist Michael Hudson for Counterpunch By STANDARD SCHAEFER The war in Iraq is allegedly over, interest rates are going lower and there are rumors of recovery although the economy is still in the doldrums. A Bush is president, but an election is around the corner. It sounds a bit like the recession... Read More