RIP, Paul Adolph Volcker

Paul Adolph Volcker is dead at the age of 92. (Most accounts of the man suppress the middle name, though it was often pointed out with bitter glee by builders and others who were undone by his high interest rate policies in the early 1980s.) As I wrote in LBO when he left office in 1987, if capitalism gave out a Hero of Accumulation award, he would have been first on the honors list. Let’s recall what he did, because all the worshipful obits will almost certainly sanitize the history. Volcker was… Read More

Andy Stern: I ran out of “Andy Stern ideas”

But he still thinks that it’s time to drop the class struggle unionism (where’s that, anyway?) and enter into partnerships with employers—employers who want to see unions disappear. What a sad and silly man. Ezra Klein – Andy Stern: ‘It may not end beautifully in Wisconsin.’ In the ’30s, people didn’t want us to exist. We had to do sit-down strikes and various other things. We had socialist and communist tendencies. We grew up, to speak in Marxist terms, in a world with a lot more class struggle. And there still obviously… Read More