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Economics Archives - Institute of the Black World 21st Century

A FedEx worker delivers packages in midtown New York

US billionaires became $2.1 trillion richer in 19 months of pandemic

By Commentaries/Opinions

By Jon Queally, Common Dreams — American billionaires grew in number and expanded their collective fortunes by $2.1 trillion since Covid-19 sparked a worldwide pandemic nineteen months ago, according to a new analysis unveiled Monday. “Targeted tax increases on billionaires, including the proposed Billionaire Income Tax, would rebalance the tax code and reduce these glaring abuses in who pays for the services we all depend on.” An overall 70% surge of…

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Commentary, Articles and Essays by Dr. Julianne Malveaux

How can black folks manage inflation?

By Dr. Julianne Malveaux

By Dr. Julianne Malveaux — Between COVID-19 economic challenges, supply-side glitches, pent-up demand (people are finally shopping again), and more, prices are percolating upward in most uncomfortable ways.  In Los Angeles, gas prices are hitting north of $4.50, in some cases nearly $5.00 a gallon.  In some places, the shelves are bare, and staples like milk and bread are at least 5 percent higher than they once were.  Inflation is…

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Commentary, Articles and Essays by Dr. Julianne Malveaux

Labor shortage or pay shortfall?

By Dr. Julianne Malveaux

By Dr. Julianne Malveaux — Walking down a busy urban street, one cannot help but notice the number of “help wanted” signs that grace the front of many establishments. Restaurants, grocery stores, and retail establishments all seem to want workers. Many of them indicate their starting pay is “at least” $15 an hour. Some list other benefits in the window, including things like vacation time, employee discounts, and more. Workers…

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Forget the American Dream – millions of working Americans still can’t afford food and rent

By Commentaries/Opinions

Employment and wages soared in the latest labor report, but that’s small comfort for the many workers with a job that doesn’t pay a living wage. By Jeffrey Kucik and Don Leonard — The Biden administration is likely celebrating a better-than-expected jobs report, which showed surging employment and wages. However, for millions of working Americans, being employed doesn’t guarantee a living income. As scholars interested in the well-being of workers, we believe that the…

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Tesla CEO Elon Musk talks during a tour of the plant of the future foundry of the Tesla Gigafactory on August 13, 2021, in Grünheide near Berlin, Germany.

7 wealthiest Americans have enough wealth to cover a third of $3.5t budget plan

By Commentaries/Opinions

Democrats want to spend $3.5 trillion on jobs and infrastructure. A third of that could be covered by just seven billionaires. By Bob Lord, Other Words — The collective wealth of the seven wealthiest Americans has now reached nearly $1 trillion. And these seven pay virtually nothing in income tax. According to Forbes, the collective wealth of these seven men — Jeff Bezos, Elon Musk, Bill Gates, Mark Zuckerberg, Larry Page,…

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Black August: 20th Durban Commemoration, UN Permanent Forum & Reparations - Rev. D. Angelique, Dr. Amara C. Enyia JD, Dr. Ron Daniels, Prof. Gay McDougall, Dr. Pauline Muchina, Coumba Toure

Black August: 20th Durban Commemoration, UN Permanent Forum & Reparations

By Events, News & Current Affairs

What Black August: 20th Durban Commemoration, UN Permanent Forum & Reparations To engage a Pan African perspective to update participants on the impact of the 2001 Durban World Conference, UN Decade, Permanent Forum and Way Forward with Economic Priorities and Reparations. Sponsored by Advocacy Network for Africa (AdNA), Africans Rising. Who Rev. D. Angelique Walker-Smith, Chair of the AdNA Pan African Working Group Dr. Amara C. Enyia JD, Permanent Forum…

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Hospital Beds at the Jacob K. Javits Convention Center, 2020.

How capitalism made the world sick

By Editors' Choice

Rupa Marya and Raj Patel’s Inflamed argues that the human cost of our economic system is a key to understanding the health of the world. By Sarah Jones, The Nation — No one should pay for a coronavirus test. This is not a moral judgment but a statement of fact; the US government has decreed it so. Insurers are supposed to cover the tests, at no cost to the consumer….

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Economy

Neoliberalism: America faces an historical crossroads

By Editors' Choice

America Faces an Historical Crossroads – Neoliberalism’s tax cuts for the morbidly rich would incentivize them to start new businesses By Thom Hartmann, Independent Media Institute — The Democratic Party is having an internal battle over the “small” and the “large” infrastructure bills, but what’s really at stake is the future of neoliberalism within the party. The smaller “bipartisan” bill represents the neoliberal worldview, including public-private partnerships and huge subsidies…

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Hungary

What makes a country great?

By Commentaries/Opinions

‘Richer than Hungary’ is a sadly low bar for the United States. By Ryan Cooper, The Week — The right is in love with Hungary. Fox News’ Tucker Carlson broadcast his show from there recently, and met with Prime Minister Viktor Orbán — who has turned that country into a corrupt, authoritarian psuedo-democracy. Carlson and other right-wingers like writer Rod Dreher admire Orbán because they want to copy his program and direct state repression against their political…

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Commentary, Articles and Essays by Dr. Julianne Malveaux

Rep. Cori Bush Is My Shero

By Dr. Julianne Malveaux

By Julianne Malveaux — Congresswoman Cori Bush (D-MO) was once homeless. She wrote movingly about sleeping with her babies in her car, with no place to go, nowhere to wash except a McDonald’s restroom, nowhere to exhale. She was homeless and working, and among a group that has coined the term “unhoused” to convey the pain of living without a home, belongings stuffed into garbage bags, hot food an elusive…

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March on Washington

The myth of class-reductionism

By Commentaries/Opinions

The fight for racial and gender justice has always been about economic inequality, too. By Adolph Reed Jr., New Republic — Ever since Bernie Sanders’s insurgent run for the Democratic presidential nomination in 2016, a specter has haunted left-liberal debate: the specter of “class reductionism.” Left-identitarians and centrist liberals have used this oversimplified charge not merely to dismiss Sanders but also to cast suspicion on the broad array of universally…

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Diepsloot in South Africa

South Africa: The fault-lines of the world’s most unequal society

By Editors' Choice

By John Allen, All Africa — Cape Town — Amid the explosive cocktail of ingredients which contributed to the outbreak of looting and burning in South Africa this week, new fault-lines running through a society divided by class as well as by race were on display as never before. The unrest may have been triggered by the jailing of former president Jacob Zuma and exacerbated by factors ranging from orchestrated…

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