Have you heard of Jaz Brisack, Liz Fong-Jones and Chris Smalls? Continue reading
Besides the lingering COVID-19 pandemic and the on-going climate crisis, which will be accompanied by an energy crisis, not to mention the coming migration crisis, the world could be facing two man-made major crises in the years to come, i.e. an economic and financial crisis and a hegemonic war crisis. Continue reading
The most perceptive ancient historians and philosophers could not have foreseen a time when a certain type of mass convenience and abundance becomes a threat to democracy, justice and dispersed power. Welcome to the incarcerations of the credit card payment systems Gulag and the corporate state’s drive to stop consumers from paying with cash. Continue reading
Social Security advocates on Wednesday applauded Democrats including U.S. President Joe Biden for their defense of the popular program as Republicans recycle false claims that the nation will soon be unable to pay for the program’s benefits, making the monthly payments that help support more than 65 million Americans a key issue ahead of the midterm elections. Continue reading
Losing two coworkers to domestic violence over a three-year span left Emily Brannon and other members of United Steelworkers (USW) Local 310L reeling. Continue reading
At the end of July, an economic adviser working for Bank of America wrote a memo that got leaked. It made bluntly explicit the long-standing common knowledge among savvy investment advisers: those “economic policies” debated among politicians, economists, and dutiful mass media operate at two different levels. On the public level, debaters discuss what “we” need to do to fix “our economy’s problems.” It reeks of that “we are all in this together” language that reminds us of commercial greeting card poetry. On the other, private level, insiders discuss how the government should respond to economic problems in ways that boost employers’ profits even if at employees’ or the public’s expense. Insiders express their preferred solutions in that nicely neutered term: “policies.” Continue reading
Crypto is going to crash and could take your savings with it. Continue reading
Labor Day presents a great opportunity for the Democratic Party to compare their election year story of being on the side of labor, as opposed to the GOP which is invariably backing the wealthy and giant corporations. Continue reading
There was a big lie that modern corporations sold to American workers in the late 20th century and into the first decade of the 21st century: It was that profit-driven entities could make both employees and customers happy enough that no interventions like worker unions or strong federal regulations were needed. Continue reading
The federal minimum wage of $7.25 an hour has not been raised since 2009. That’s the longest period without an increase since the minimum wage was enacted, meaning today’s minimum wage is actually worth far less than it was in 2009. Continue reading
Financial health is the elephant in the room that we avoid talking about in social situations, at work, and even with our loved ones, despite the fact that financial well-being has a profound effect on how we think and feel. A review of 32 studies conducted on the dynamics of financial well-being and mental health between 2001 and 2019 found that a person’s financial situation has a “significant impact” on their mental health, with financial hardship being frequently associated with increased stress, anxiety and depression. Yet, financial well-being remains a taboo subject. Continue reading
At only 19 years old, Joe Thompson is one of the youngest lead organizers with Starbucks Workers United (SWU), the umbrella organization at the forefront of one of the most exciting labor successes of the last few years. Thompson, who started working at the coffee chain at age 16, told me in a recent interview, “Starbucks likes to claim it’s super-progressive, and a lot of workers there are, but we’re the ones actually holding Starbucks accountable to that standard.” Continue reading
BESSEMER, Ala.—Shoving merchandise around Amazon’s giant warehouse in Bessemer, Ala., isn’t easy, Isaiah Thomas says. It also isn’t safe. Continue reading
“Keep On Truckin’” was an iconic underground cartoon created in 1968 by comic master Robert Crumb. Continue reading
Rep. Pramila Jayapal, the chair of the Congressional Progressive Caucus, urged the House Democratic leadership on Tuesday to hold a vote on legislation that would expand Social Security benefits by making wealthy Americans contribute more to the beloved New Deal-era program. Continue reading
On Friday, April 1, Amazon—America’s wealthiest, most powerful, and fiercest anti-union corporation, with the second-largest workforce in the nation (union-busting Walmart being the largest), lost out to a group of warehouse workers in New York who voted to form a union. Continue reading
Foreign critics have long chafed at the “exorbitant privilege” of the U.S. dollar as global reserve currency. The U.S. can issue this currency backed by nothing but the “full faith and credit of the United States.” Foreign governments, needing dollars, not only accept them in trade but buy U.S. securities with them, effectively funding the U.S. government and its foreign wars. But no government has been powerful enough to break that arrangement—until now. How did that happen and what will it mean for the U.S. and global economies? Continue reading
Amid all the good news about successful labor organizing and job growth in the United States is the stark reality that wages continue to remain inexcusably low even as inflation rises. A new government report by numerous agencies, including the U.S. Treasury Department, came to the stark conclusion that corporate power is suppressing wages. Continue reading
The government wants your money. Continue reading
Inflation! Inflation! Everyone’s talking about it, but ignoring one of its biggest causes: corporate concentration. Continue reading
While efforts to secure paid leave benefits are stalled at the federal level, states and cities are moving forward. In the latest victory, the District of Columbia has granted hundreds of thousands of private-sector workers 12 weeks of paid time off, up from a maximum of eight weeks. Continue reading
There is a bittersweet battle taking place in Stuarts Draft, Virginia. Workers at the Hershey Company’s second-largest factory, located in the small town of about 12,000, are seeking to unionize. In response, the nation’s largest candy manufacturer is throwing the full force of the standard corporate union-busting playbook at them. The Virginia Hershey manufacturing plant employs about 1,300 people, none of whom are sharing in the bounty of the company’s record profits reaped during a pandemic where Americans ate their weight in candy through numerous lockdowns. Continue reading
Inflation is plaguing consumer markets, putting pressure on the Federal Reserve to raise interest rates to tighten the money supply. But as Rex Nutting writes in a MarketWatch column titled “Why Interest Rates Aren’t Really the Right Tool to Control Inflation” . . . Continue reading
The January jobs report from the Labor Department is heightening fears that a so-called “tight” labor market is fueling inflation, and therefore the Fed must put on the brakes by raising interest rates. Continue reading
For advocates of cryptocurrency, the promise of an economic future that is managed by a blockchain (a decentralized database that is shared among the nodes of a computer network, as opposed to being held in a single location, such as a central bank) is compelling. For anyone paying attention, the rapid expansion of cryptocurrency has been stunning. In 2019, the global cryptocurrency market was approximately $793 million. It’s now expected to reach nearly $5.2 billion by 2026, according to a report by the market research organization Facts and Factors. In just one year—between July 2020 and June 2021—the global adoption of cryptocurrency surged by more than 880 percent. Continue reading
The Federal Reserve is caught between a rock and a hard place. Inflation grew by 6.8% in November, the fastest in 40 years, a trend the Fed has now acknowledged is not “transitory.” The conventional theory is that inflation is due to too much money chasing too few goods, so the Fed is under heavy pressure to “tighten” or shrink the money supply. Its conventional tools for this purpose are to reduce asset purchases and raise interest rates. But corporate debt has risen by $1.3 trillion just since early 2020; so if the Fed raises rates, a massive wave of defaults is likely to result. According to financial advisor Graham Summers in an article titled “The Fed Is About to Start Playing with Matches Next to a $30 Trillion Debt Bomb,” the stock market could collapse by as much as 50%. Continue reading
Friday’s jobs report from the Department of Labor was a warning sign about the US economy. It should cause widespread concern about the Fed’s plans to raise interest rates to control inflation. And it should cause policymakers to rethink ending government supports such as extended unemployment insurance and the child tax credit. These will soon be needed to keep millions of families afloat. Continue reading
Last week, the Fed’s policy committee announced it would both end its bond-buying program and likely raise interest rates sooner than had been expected. “Inflation is more persistent and higher, and that the risk of it remaining higher for longer has grown,” Fed chair Jerome Powell explained. Continue reading
The iconic American coffee chain, Starbucks, employs hundreds of thousands of people in nearly 9,000 cafés nationwide. And yet, the news that a handful of Starbucks employees at one café in Buffalo, New York, recently voted to join Workers United—an affiliate of SEIU—made headlines nationally. The New York Times called it a “big symbolic win for labor,” while the Washington Post hailed it as a “watershed union vote.” Social media feeds were replete with joyous posts celebrating the vote. The café, located on Elmwood Avenue, was the only one out of three union-voting Starbucks locations in Buffalo that successfully chose to unionize. Continue reading
This is the most opportune time for millions of workers in Big Box retail stores and fast-food outlets to form unions. McDonald’s, Walmart, Amazon, Starbucks, Dunkin Donuts, Burger King, and other giant chains are having trouble finding enough workers. Some of these companies are even paying signing bonuses and upping low pay. Continue reading
As a writer, I get stuck every so often straining for the right words to tell my story. Over the years, though, I’ve learned when to quit tying myself into mental knots over sentence construction. Instead, I step back and rethink where my story is going. Continue reading
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Bringing workers’ rights into a constitution? An innovative state ballot proposal could offer a new path for labor
Posted on September 8, 2022 by Tom Conway
Chris Frydenger’s young coworkers at the Mueller Company performed the same work and brought the same dedication to their jobs as he did, but the manufacturer’s two-tier wage system exploited newer hires by paying them thousands less each year. Continue reading →