Let’s say you’re looking to invest some savings in the expanding micro-chip industry and a friend hands you the 2021 Annual Report of the Delaware (chartered) Corporation, Microchip Technology, a firm based in Chandler, Arizona. You’re a studious type and want to know what the company is producing before deciding if becoming a shareholder-owner is for you. Continue reading
This great shift in bargaining power from workers to corporate shareholders has created an increasingly angry working class vulnerable to demagogues peddling authoritarianism, racism, and xenophobia.
Why do big corporations continue to win while workers get shafted? It all comes down to power: who has it, and who doesn’t. Continue reading
Their relentless rush to hit the pay jackpot is fueling the calamities that confront us.
America’s dirtiest three-letter word may now be “CEO,” and our ongoing economic meltdown is only making that tag even dirtier. Chief executives the nation over have spent this past spring scheming to keep their pockets stuffed while their workers suffer wage cuts, layoffs, and even death by COVID-19. Continue reading
Retail workers are organizing to make sure private equity firms can’t make money by putting people out of work.
For many years, Giovanna De La Rosa enjoyed working at Toys ‘R’ Us—especially during the holiday shopping season. “I loved bringing joy to families and to children,” she shared at a recent congressional hearing. “I watched so many of the local kids grow up over the years while shopping in our store.” Continue reading
This sad story is as old as NAFTA.
Mickey Ray Williams keeps a Goodyear tire in his Gadsden, Alabama, conference room. Made in Mexico and imported to Gadsden, that tire induces fear. Continue reading
Uber just filed its first quarterly report as a publicly traded company. Although it lost $1bn, investors may still do well because the losses appear to be declining. Continue reading
It has happened at slaughterhouses run by Smithfield Foods, Swift and Agriprocessors. Continue reading
American president Donald Trump seems intent to isolate the U.S. economy from neighboring economies, and even from the world economy, and thus to break with three quarters of a century of closer economic cooperation between countries, established after World War II. There is a clear danger that the international economic system could become structurally unsettled for years to come, which does not mean that such a system is not in need of reform. Continue reading
Trump and congressional Republicans are engineering the largest corporate tax cut in history in order “to restore our competitive edge,” as Trump says. Continue reading
New Treasury Department rules helped scrap the alleged tax-dodging giant's attempt to merge with overseas firm.
Big Pharma received $127 billion of our tax dollars in 2014 through the federal programs Medicare, Medicaid, VA, and TRICARE. But just because they live on our tax dollars, doesn’t mean Pharma companies want to pay taxes. Increasingly, they seek tax inversions, reincorporating in countries like Britain, Ireland or the Netherlands, often merging with a European entity to duck U.S. taxes. Continue reading
The JOBS Act is a “game changer” that would allow “ordinary Americans . . . to go online and invest in entrepreneurs they believe in,” says President Obama. Continue reading
Part 3 of 3 parts
Among the mission statements of the University of North Dakota Department of Geology and Geological Engineering is that it “strives to develop in its engineering graduates keen insight and abilities to design an environmentally sound and sustainable future for humanity.” Continue reading
Part 2 of a 3-part series
Two of the reasons Pennsylvania has no severance tax and one of the lowest taxes upon shale gas drilling are because of an overtly corporate-friendly legislature and a research report from Penn State, a private state-related university that receives about $300 million a year in public funds. Continue reading
Part 1 of a 3-part series
Lackawanna College, a two-year college in Scranton, Pa., has become a prostitute. Continue reading
Economic theory teaches that free price and profit movements ensure that capitalism produces the greatest welfare for the greatest number. Losses indicate economic activities where costs exceed the value of production, thus investment in these activities is curtailed. Profits indicate economic activities where the value of output exceeds its cost, thus investment increases. Prices indicate the relative scarcity and value of inputs and outputs, thus serving to organize production most efficiently. Continue reading
H. Ross Perot, the independent candidate for US president in 1992, said if NAFTA, the North American Free Trade Agreement, were passed you would hear a “giant sucking sound” as jobs left the US for Mexico. Continue reading
“I believe we have made a decision now that will permit us to create an economic order in the world that will promote more growth, more equality, better preservation of the environment and a greater possibility of world peace. We are on the verge of a global economic expansion that is sparked by the fact that the United States, at this critical moment, decided that we would compete, not retreat. In a few moments, I will sign the North American Free Trade Act into law. NAFTA will tear down trade barriers between our three nations. It will create the world’s largest trade zone and create 200,000 jobs in this country by 1995 alone. The environmental and labor side agreements initiated by our administration will make this agreement a force for social progress as well as economic growth.” Continue reading
US and EU called out for protecting their own subsidies while demanding world's poorest citizens be pushed back into starvation
In announcing a final agreement in Bali, Indonesia on Saturday morning, head of the World Trade Organization Roberto Azevedo, said: “For the first time in our history, the WTO has truly delivered.” Continue reading
American businesses have never been afraid to compete amongst each other within reason. Competition is what has driven our economy to produce higher quality products at better prices. But now that competitiveness is being threatened by an international pact from hell called The Trans-Pacific Partnership, which will severely tie our hands when trying to compete with certain foreign corporations. Continue reading