Making capital pay for the GND
Christian Parenti has an excellent piece up at Jacobin arguing that Corporate America could pay for a lot of the Green New Deal. They’re rolling in cash, and through a combination of regulation, taxation, coercion, and incentives, all that surplus capital could be steered into environmentally beneficial investment. I endorse this completely. I’m just here to underscore how much cash they have and show what they’re now doing with it. According to the latest edition of the Federal Reserve’s financial accounts*, as of the end of 2018, nonfinancial corporations had $4.4 trillion… Read More
Normalizing Trump
Matt Yglesias, whom I don’t always find myself agreeing with, argued yesterday that we shouldn’t listen to the advice not to “normalize” Donald Trump. He’s right. Normalization, in this context, is typically cast as a form of complicity with Trump in which the highest possible premium is placed on maintaining a rigid state of alert and warning people that he is not just another politician whom you may or may not agree with on the issues. Hillary Clinton ran her campaign on this. Her team rooted for Trump as nominee, because they were certain… Read More
Ralph Nader & the plutocrats
I’ve long been struck by Ralph Nader’s imperious view of politics—his preference for progressive change via litigation, not legislation, and a career (during which he accomplished many very good things, don’t get me wrong) capped by a few celebrity presidential campaigns in which he never made any effort to build a movement out of the crowds and publicity they generated. So now he’s out with a “novel” that apparently argues that a small posse of enlightened plutocrats will save us. Citizens’ groups aren’t up to the task, Ralph tells Amy Goodman. Only enlightened… Read More
LBO News from Doug Henwood 