Economics
BUILDING LOCAL ECONOMIES AND COMMUNITY WEALTH
Henry George in his classic Progress and Poverty (published in 1879) said that all wealth resulted from the labor of the worker. The worker used his skill and creativity to transform natural resources into things to satisfy human needs and desires. This process was the basis of capital as well as all economic activity. Capital did not create jobs, workers did.
The current paradigm says economic growth, jobs, and prosperity are created from the top down. Give the super wealthy more and they will “invest” in the economy, jobs will be created, and everyone else will ...
WHAT UNIONS HAVE DONE FOR ALL WORKERS
WHAT UNIONS HAVE DONE FOR ALL WORKERS
By John Spiegelhoff
(Editor’s Note: John lost his life in a motorcycle accident in southwestern Minnesota. John was the Staff Representative for AFSCME Council 65. He also was the county chairman for Nobles County DFL. We re-print this article to remember John and to thank him for his dedicated work.)
Most of us who reside in Minnesota are pretty humble people. We do not like to brag or boast. When we take care of each other and do good things for one another, we do not make a big deal of it. It is just part of who we ...
WEALTH AND MONEY PART XVII: IT IS ALL SO UNNECESSARY
“The dark ages still reign over all humanity, and the depth and persistence of this domination are only now becoming clear. This Dark Ages prison has no steel bars, chains, or locks. Instead, it is locked by misorientation and built of misinformation. We are powerfully imprisoned in these Dark Ages simply by the terms in which we have been conditioned to think.” “Neither the great political or financial powers of the world nor the population in general realize that the engineering-chemical-electronic revolution now makes it possible to produce many more technical ...
Income Inequality
“That is not fair!” How many times have we heard that from our children or perhaps at work? Human beings are hard wired with a sense of fairness-of what is right and what is wrong. Most people believe that they should be fairly compensated for the work that they do. Most workers believe that a Corporate Executive Officer (CEO) of a company should get a little more than the average worker since they run the company. But over the last sixty years, a little more has turned into a whole lot more and we should be very concerned about this.
Since 1950, the ratio of ...
WEALTH AND MONEY PART XVI THE DEATH THROES OF EMPIRE
“Men and women of the United States armed forces in armored vehicles patrol the streets of Baghdad. They pass in the way of so many who have come before them: the Egyptian charioteers of Ramses II, the Macedonian phalanx of Alexander the Great, the Roman legionnaires of Caesar and Trajan, the Crusaders of Richard the Lion-Hearted, the legionnaires of Napoleon, the Camel Corps of Lawrence of Arabia. All of these have come through the Middle East. Many of them have come with the best of intentions, by their lights, to bring stability, even freedom to the Middle East. All ...
RETIREMENT PLANNING IN WISCONSIN
(Joyce Luedke is part of POWRS (Protect our Wisconsin Retirement System.)
Here is my summary of our June 24th POWRS Renewal Meeting with Karen Holden—UW-Madison Professor Emeritus of Public Affairs and Consumer Science.
Karen Holden referred to her research on retirement planning in the following articles.
http://www.ncpssm.org/RetirementSecurity/karen-holden-bio.pdf
http://aging.wisc.edu/research/affil.php?Ident=24
I. Financial literacy education.
A. This is crucial for the populace as a whole, but essential for people who do their own planning. Many ...
SPECULATING ON THE EU VOTE
Last week the British voted to leave the European Union. The next day stock markets all over the world declined precipitously. The DOW in this country dropped 610 points in one day. According to Reuters news agency, global stock markets “lost” $2 trillion in value the day after the vote. Why did this happen? What does it mean?
Wild fluctuations like this often occur with stock markets. The news media, pundits, and investment hucksters, of course, always have explanations. The usual spin is that “investors” have lost confidence, or they are “taking profits,” ...
WEALTH AND MONEY PART XV: AN EMPIRE IN DECLINE
There is a life cycle to empire - a historical evolution in the birth, maintenance, and loss of world preeminence. Conceived brutally through conquest, or peacefully as in the transfer of power from Great Britain to America after the first and second world wars, the birth of a new empire is always led by the relocation of major centers of knowledge in science, technology and engineering. This is so because the long term outcome of leadership in these fields is a genuine increase in human wealth — in the ability to sustain ever more humans with an ever rising standard ...
WHAT IS THE KEY TO WISCONSIN’S ECONOMIC SUCCESS?
The July 7, 2016, Price County Review described Governor Walker’s June 29 visit to Phillips as a blitz. He flew in, was ushered to the Municipal Building by law enforcement and security personnel for an invitation-only listening session for 20-30 people and a brief interview by local media, was escorted to United Pride Dairy near Phillips to announce $3.2 million in Youth Apprenticeship (YA) state grants, then was escorted back to the airport and flew away.
During his announcement, Walker noted “The key to Wisconsin’s future success rests in our ability to provide ...
WEALTH AND MONEY PART XIV: THE FRIGHTENING PHILANTHROPIST
“Philanthropy, is commendable, but it must not cause the philanthropist to overlook the circumstances of economic injustice that make philanthropy necessary.” - - Reverend Martin Luther King Jr.
Philanthropy in the United States is not just the voluntary activity of a donor. Philanthropy in general, including the work of foundations, is generously tax-subsidized. The assets transferred to a foundation by a donor are left untaxed in two respects: the donor makes the donation more or less tax-free, diminishing the tax burden she would face in the absence of the ...