Economic Crisis

Economic Crisis

Articles and Reports on Economic Justice, 2013
(Also see Articles and reports from 2012, 2011, 2010 and before, Inequality, and Poverty)

This page is no longer being updated; no new articles and reports will be added. However the existing content is still relevant and interesting.

America’s Sinking Middle Class by Eduardo Porter, New York Times, September 18, 2013

In New York, Having a Job, or 2, Doesn’t Mean Having a Home by Mireya Navarro, New York Times, September 17, 2013.  

A City Invokes Seizure Laws to Save Homes by Shaila Dewan, New York Times, July 29, 2013. To save neighborhoods and homeowners, communities are using eminent domain to buy underwater homes at a reasonable price and sell them back to their original owners.  Also see To Rescue Local Economies, Cities Seize Underwater Mortgages Through Eminent Domain by Peter Dreier, Truth-Out (the article is also printed in The Nation) July 16, 2013.

Status and Stress by Moises Velasquez-Manoff, New York Times, July 27, 2013. Stress falls most heavily on people with lower incomes, shortening their lives and making them ill.

House G.O.P. Sets New Offensive on Obama Goals  by Jonathan Weisman, New York Times, July 23, 2013. Proposed budget cuts would gut many important government functions.

A Shuffle of Aluminum, but to Banks, Pure Gold by David Kocieniewski, New York Times, July 20, 2013. Big banks control supply of aluminum, boosting its cost and their profits.

In Climbing Income Ladder, Location Matters by David Leonhardt, New York Times, July 22, 2013. Upward mobility varies markedly by location. (See an overview of the research discussed by Leonhardt.) One reason for the inability of people to get ahead is sprawl: new jobs are in the distant suburbs while many lower income households are in the city and inner-ring suburbs – with few public transportation options bridging the distance. See Stranded by Sprawl by Paul Krugman, New York Times, July 28, 2013.  Also see “Job Sprawl” Undermines Long-Term Regional, National Prosperity from the Brookings Institution.

Richer Farmers, Bigger Subsidies by James B. Stewart, New York Times, July 19, 2013. The Farm Bill: agricultural subsidies (abundant) and food stamps (meager).

G-20 Backs Plan to Curb Tax Avoidance by Large Corporations by Andrew E. Kramer and Floyd Norris, New York Times, July 19, 2013.

Frayed Prospects, Despite a Degree by Shaila Dewan, New York Times, July 19, 2013. This year’s graduates more valued by potential employers than those who graduated in the recent past (so how are those earlier grads to find a job?)

Discrimination in Housing Against Nonwhites Persists Quietly, U.S. Study Finds by Shaila Dewan, New York Times, June 11, 2013.

For U.S. Companies, Money ‘Offshore’ Means Manhattan by David Kocieniewski, New York Times, May 21, 2013. Off-shore tax havens also exist onshore, for example in Manhattan.

How Austerity Kills by David Stuckler and Sanjay Basu, New York Times, May 12, 2013. Recessions are not necessarily deadly but harsh spending cut are.

Economists See Deficit Emphasis as Impeding Recovery by Jackie Calmes and Jonathan Weisman, New York Times, May 8, 2013.

Workers Claim Race Bias as Farms Rely on Immigrants by Ethan Bronner, New York Times, May 6, 2013. U.S. workers charge they are illegally discouraged from applying for farm work and treated shabbily by farmers who prefer to hire foreigners for their malleability.

Corporations Find a Friend in the Supreme Court by Adam Liptak, New York Times, May 4, 2013. The current Supreme Court is the most pro-business in decades.

The Idled Young Americans by David Leonhardt, New York Times, May 3, 2013. The U.S. has one of the lowest shares of employed 25- to 34-year-olds among large, wealthy economies.

Wealth Gap Among Races Has Widened Since Recession by Annie Lowrey, New York Times , April 28, 2013.

No Rich Child Left Behind by Sean F. Reardon, New York Times, April 27, 2013. The rich-poor gap in test scores is 40% larger than 30 years ago while racial gaps are narrowing.

Economists: Long-term joblessness is national emergency by Kevin G. Hall, McClatchy Newspapers, April 24, 2013. 

Part-Time Work Becomes Full-Time Wait for Better Job by Catherine Rampell, New York Times, April 19, 2013. Millions are working part time when they want full-time hours.

Hedge Fund Titans’ Pay Stretching to 10 Figures by Julie Creswell, New York Times, April 15, 2013. The top 25 hedge fund managers took home a combined $4.4 billion last year (and paid especially low “carried interest” tax rates on at least some of it)

Meet the New Left: Small-Business Owners by William Greider, The Nation, April 8, 2013. Two new small business associations are supporting progressive policies.

A Stealth Tax Subsidy for Business Faces New Scrutiny by Mary Williams Walsh and Louise Story, New York Times, March 4, 2013.  Tax-exempt bonds are being used to benefit private corporations, creating huge revenue losses.

Dwindling Deficit Disorder by Paul Krugman,  New York Times, March 10. The deficit is not our main problem. It is helping the economy (and its declining).

Major Banks Aid in Payday Loans Banned by States by Jessica Silver-Greenberg, New York Times, February 23. Major banks, including JPMorgan Chase, Bank of America and Wells Fargo, are working with payday lenders to collect on loans with interest rates of up to 500% per year.

When Public Outperforms Private in Services by Eduardo Porter, New York Times, January 15, 2013. Public ownership can be better than private.

Contact Info

Edith Rasell, Ph.D.
Minister for Economic Justice
700 Prospect Ave.
Cleveland, OH 44115