To mark its first anniversary DiEM25 has today published a summary of its White Paper entitled ‘European New Deal: An economic agenda for European Recovery’. The full White Paper will be launched on the 25th March 2017 in Rome, in the context of the 60th anniversary of the Treaty of Rome. Click here for a pdf.
The strike—labor’s most powerful weapon against capital, except maybe sabotage—is disappearing even more rapidly than unions, which is saying a lot. The Bureau of Labor Statistics reported this morning that there were 15 work stoppages involving 1,000 or more workers in 2016. That’s 1 above the average of the past five years, and down 96% from the average of the late 1940 and 1950s.
(Stoppages include both strikes and lockouts—the data series doesn’t distinguish between the two. The overwhelming majority are strikes. Notable exceptions in recent years have been in professional sports, but in a bizarrely hostile and destructive move, Long Island University locked out its employees in September 2016. From here on, I’m using the word “strike” rather than stoppage because it sounds far better with only a minor loss of accuracy.)
As the graph below shows, the collapse in the strike began in the late 1970s, and accelerated during…
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One can hear the cry ringing through the boardrooms of capital: “Free trade is dead! Long live free trade!”
Think the ideas behind the Trans-Pacific Partnership or the so-called “free trade” regime are buried? Sadly, no. Definitely, no. Some of the countries involved in negotiating the TPP seeking to find ways to resurrect it in some new form — but that isn’t the most distressing news. What’s worse is the TPP remains alive in a new form with even worse rules. Meet the Trade In Services Agreement, even more secret than the Trans-Pacific Partnership. And more dangerous.
The Trade In Services Agreement (TISA), currently being negotiated among 50 countries, if passed would prohibit regulations on the financial industry, eliminate laws to safeguard online or digital privacy, render illegal any “buy local” rules at any level of government, effectively dismantle any public advantages to be derived from state-owned enterprises and eliminate…
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Longshore Workers Stop Work- for one day
On the day of Donald Trump’s inauguration, many Americans wrung their hands. Some took to social media to express their discontent while others protested. But, perhaps, the most dramatic and important action was taken by dockworkers in Oakland, California: They stopped working. Their strike demonstrated the potential power ordinary people have on the job, when organized.
Longshore workers, who load and unload cargo ships, chose not to report to their hiring hall. As a result, “Oakland International Container Terminal, the largest container facility at the Northern California port, was shut down Friday,” according to theJournal of Commerce. It also reported that all other Oakland container terminals were essentially shut down, too.
Crucially, these workers did not first come together to protest Trump. They belong to the International Longshore and Warehouse Union (ILWU), one of the strongest and most militant unions left…
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|The world’s stock markets continue to hit the roof, particularly the US markets which have reached all-time highs. ‘The Donald’ may dominate the headlines with his presidential decrees and tweets, but on the whole, financial investors remain optimistic. As I showed in a previous post, there is a growing consensus among economists and investors that things are looking up and the world economy is set for a sustained recovery.
Take the latest forecasts from Gavyn Davies, former chief economist at Goldman Sachs and now running his own financial agency, Fulcrum.
He comments “One of the most important questions for 2017 is whether this bout of reflation will continue. My answer, based partly on the latest results from the Fulcrum nowcast and inflation models, is that it will continue, at least compared to the sluggish rates of increase in nominal GDP since the Great Financial Crash.” Moreover “The nowcasts…
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