News and Features
The late socialist economist Harry Magdoff read Marx at
fifteen and never looked back. A self-educated co-editor of the
Monthly Review, he not only fought for a just and humane world;
he embodied his politics in the way he conducted his life.
It's not true that only the rich can help the poor. We must work to empower nations like
Bangladesh that are addressing the problem of hunger by creating networks of
schools, health training and micro-loans.
The election of former coca farmer Evo Morales as Bolivia's first
indigenous president appears to be an enormous victory for the left, as
yet another Latin American nation turns away from Washington-driven
economics. But will Morales be able to live up to his promise of
home-grown solutions for this cash-poor yet resource-rich nation?
The cynical restructuring plan for bankrupt Delphi Automotive calls for
massive wage and benefit givebacks for 51,000 American workers.
Governors of affected states must craft strategies to minimize loss of
jobs and income.
Interest rates nosed higher today as the Federal Reserve Board
sought to control inflation. But the impact of runaway inflation is
already being felt by workers whose wages will stagnate and whose
earning power is on a steep decline.
Marc Cooper interviews Gore Vidal about an America that is increasingly
controlled by corporations and suggests that the Gulf Coast hurricanes
and the Iraq debacle signal the breakdown of an empire.
As House Republicans use the cost of recovery from Gulf Coast storms as
an excuse to rip last-minute holes in the social safety net, it's not
too late to change priorities.
Delphi's bankruptcy is a marker of a new America in which there is no
collective security, no union to make you strong, no government to give
you shelter, in which workers stand alone.
It's easy to scoff at a rock star like Bono pairing up with
economist Jeffrey Sachs. But their tireless lobbying for debt relief
for the poorest nations could make a real difference for the 1 billion
people who live on less than a dollar a day.
Fitful efforts to rebuild the Gulf Coast unfold against a backdrop
of looming economic disaster: rising unemployment and interest rates,
misplaced priorities and a recession that will hurt the weakest most.
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