Category: Op-Ed

  • My friend Maren Poitras’ Finding the Money does the vital work of dragging Modern Monetary Theory (MMT) out of academic journals and into the public square; but like a union rep forced to negotiate at a table built by bosses, the film’s framework bends under the weight of capital’s myths. Stephanie Kelton rightly hammers that “currency issuers can never run out of money” (Kelton 2020) while the documentary pulls its punches where it hurts most: exposing how the ruling class weaponizes deficit hysteria to strangle working-class futures. The blame for this shouldn’t be laid at Poitras’s feet; it’s an unfortunate element of many MMT stories. 

    The film brilliantly shows dunces like Treasury officials wringing their hands over “funding” Social Security, as if the government is some broke diner owner counting pennies rather than the creator of the dollar itself. This is where Finding the Money needs Clara Mattei’s razor-sharp class analysis: when she writes that “austerity is not economic necessity but class war” (Mattei 2022), she’s naming the game. That’s the peanut butter to MMT’s chocolate! The documentary lets politicians and bankers off the hook by framing monetary ignorance as mere confusion rather than what it really is: a systemic con job to make workers believe schools and hospitals are “unaffordable” while Pentagon budgets bloat like a corpse in summer. This secondary confusion myth is a recurring hyper-courteous MMTism that sometimes diminishes its own walloping wake-up call. 

    Where the film truly shines is its demolition of household budget analogies – those capitalist fairy tales that pretend the US Treasury operates like a family choosing between groceries bills and rent. Kelton’s explanation of money creation is the sledgehammer this lie deserves. But when it comes to showing who benefits from these myths, Finding the Money treats monetary policy like a faulty appliance needing repair rather than a butcher’s knife held to labor’s throat. It also leaves the viewer with the notion that all private sector savings are the same rather than the class war that can be truly exposed through an analysis of stratification. 

    To add context, consider what’s missing: the footage of Wall Street bankers high-fiving over interest rate hikes that jack up their bond yields while crushing indebted workers. The montage of CEOs blaming “inflation” for price-gouging as they report record profits (Weber 2023). The truth Mattei exposed – that economic “rules” are just class weapons dressed up in math – gets lost in the film’s focus on educating elites rather than arming the working class.  

    The documentary’s biggest blind spot? It doesn’t follow the money all the way to the picket lines. It doesn’t show the folks without teeth skipping dental care because of austerity. The student debtors losing their homes. The broken families. Auto workers striking for wage hikes, CNBC screaming about inflation. When tenants demand rent control, landlords howl about “market fundamentals.” Every time workers fight for more, capital shrieks “we can’t afford it” while amassing profit they didn’t earn but extracted. How much more powerful would the film be if it connected these dots? 

    This isn’t just about understanding money. It’s about seizing it. The film could’ve shown Puerto Rican workers building solar grids after privatized power failed them (Rapin, 2023) or Jackson, Mississippi’s solidarity economies (Cooperation Jackson, 2019) – proof that when we stop begging and start building, the “money” magically appears. We get plenty of talking heads but not enough torch-bearing workers marching on central banks which work for, and at the legal behest of, a completely captured Congress. 

    Finding the Money is a good first step, like a union organizer’s introductory pamphlet. But unless it names capitalism boldly and without reservation as the counterfeiter of artificial scarcity, unless it shows workers how to wrestle the decision making and money-creation power from the suits who’ve captured congress and hoarded it like dragons on a pile of gold, it’s only telling half the story. The other half? That’s written in the streets. But the streets need the information in this wonderful but inadequate documentary. Everyone needs to see this film; then start investigating class.  

    Watch Finding the Money for free on YouTube. 

    It is also available to rent or buy at findingmoneyfilm.com 

    References:   
    Kelton, S. (2020), The Deficit Myth   
    Mattei, C. (2022), The Capital Order   
    Weber, I. (2023), Taking Aim at Sellers Inflation  

    Katherine Rapin (2023), The Grassroots Movement That Built Puerto Rico’s First Community Owned Microgrid 
    Cooperation Jackson (2019) The Just Transition, Economic Democracy, and the Green New Deal  

    This post was originally published on Real Progressives.

  • Israel’s genocide in Gaza has transformed donkeys from an outdated mode of transportation — once seen mostly in impoverished or agricultural areas — into the only remaining means of transportation for many. With most vehicles destroyed and fuel prices soaring, people have been left with no choice but to rely on donkeys to access basic services and transport their belongings when Israeli forces…

    Source

    This post was originally published on Latest – Truthout.

  • “I must say,” Donald Trump commented, “I wish we had an occupying force.” It was June 1, 2020. The president, then in his first term in office, was having a phone call with the nation’s governors to discuss the ongoing Black Lives Matter (BLM) protests taking place nationwide in response to the murder of George Floyd at the hands of a Minneapolis policeman. He was urging the governors to call in…

    Source

    This post was originally published on Latest – Truthout.

  • In April, Secretary of Education Linda McMahon stood onstage at a major ed-tech conference in San Diego and declared with conviction that students across the U.S. would soon benefit from “A1 teaching.” She repeated it over and over — “A1” instead of “AI.” “There was a school system that’s going to start making sure that first graders, or even pre-Ks, have A1 teaching every year. That’s a wonderful…

    Source

    This post was originally published on Latest – Truthout.

  • Approximately one month ago — after years of harassment and intermittent demolitions — Israeli occupation forces arrived in the Palestinian village of Khallet al-Dabe’, one of the 12 communities that make up Masafer Yatta in the South Hebron Hills in the occupied West Bank. They proceeded to demolish the village almost entirely. In just two and a half hours, Israeli occupation forces reduced…

    Source

    This post was originally published on Latest – Truthout.

  • In the last few months, we witnessed two violent attacks on pro-Israel events organized by American Jewish groups, by perpetrators who shouted “Free Palestine!” as they acted. The attacks — which killed two young Israeli embassy staffers in Washington, D.C., and severely burned participants in a “Run for Their Lives” event in Boulder, Colorado, in support of Israeli hostages — have been roundly…

    Source

    This post was originally published on Latest – Truthout.

  • The last time I tried to get food aid in Gaza, I nearly died. It was early morning in Rafah, and I hadn’t eaten properly in days. I woke before the sun rose, stomach aching, body weak, and met up with my friend Abu Naji. We planned to walk five kilometers to a zone near al-Alam — “the Flag,” as people call it — where humanitarian aid was rumored to be distributed. Word on the street said it…

    Source

    This post was originally published on Latest – Truthout.

  • As the country tumbles towards fascism, some members of the U.S. military have struggled with a choice: defy illegal orders, or participate in the dismantling of American democracy. In June, over the objections of local leaders, including Gov. Gavin Newsom, President Donald Trump called up the National Guard and the U.S. Marines to quell protests in Los Angeles over immigration raids.

    Source

    This post was originally published on Latest – Truthout.

  • Prep time: 2 minutes 

    Yield: 1 sandwich 

    Ingredients: 

    • 1 loaf French bread, sliced in half 
    • Mayonnaise or ranch dressing 
    • 6 oz cooked meat (I recommend fried shrimp) 
    • 2 slices American cheese 
    • Shredded lettuce 
    • Tomato slices 
    • Pickles 

    Spread the mayo or ranch dressing on both halves of the bread, then place the meat on the bottom half, followed by the cheese. Pile on the vegetables and top with the other half of the bread. 

    ___________________________ 

    That’s the recipe for a dressed po’boy sandwich – a quick yet filling meal that’s perfect for lunch. It’s a great way to use leftovers. Notice there’s no “skip to recipe” button needed – just a list of ingredients followed by instructions. In other words, a recipe. If I can put the cooking procedure first, why do we always need to read a dissertation just to get a simple recipe? 

    Online food blogs don’t approach it this way. They usually start with some kind of personal story (how I discovered this dish; why my family loves this dish; favorite ways of eating this dish), then a brief explanation of each ingredient. 

    Search engines respond to buzzwords like “shrimp” and “sandwich.” And it’s easier to copyright a story and specific technique than it is to just copyright a list of ingredients. This explains why every recipe needs an essay, but the real driving force behind bloated internet recipes is ad revenue. The more you scroll, the more ads they expose you to, and the more money they make. Attention is currency in the age of advertisements. Showing up in searches and copyrighting our work doesn’t matter if there isn’t any money being made. 

    Commercials have infected every single online space we view, unless we’re paying a subscription fee. Wherever we go – the movies, shopping, sporting events – we are bombarded with advertisements. Even if we’re going somewhere commercial-free, the radio on the way there is trying to sell us something. And it works; businesses wouldn’t spend so much money for no reason. When media reaches large numbers of people, it influences society. Maybe you won’t go out and buy a product, but seeing an advertisement for a brand legitimizes that brand. Groups with access to large amounts of money have the power to influence society. This is power the average worker will never have. Abstract power like this helps give the capitalist class its strength. 

    Collecting money off property one owns gives an individual privilege over people who must sell their labor to make money. Marxists use the term bourgeoisie to describe this private property-owning class. We don’t use this jargon for fun; we do it because it’s important to distinguish the abstract political and societal power that comes with the privilege of owning private property. 

    gorilla playing drums

    Being able to occupy space in people’s minds is an astonishing thing. Useless knowledge about the “Betty Crocker Bake’n Fill” will forever live rent-free in my brain. Whenever anybody says the words “Old Spice,” I can hear whistling in my head. When In the Air Tonight by Phil Collins plays, I can’t help but imagine a gorilla playing the drums. Commercials have dominated media our entire lives and are always there trying to squeeze everything they can out of us. The bourgeoisie don’t just control media; they use it against us. They use all the influence they have to suck wealth away from the working class. 

    All value is derived from labor. Raw materials aren’t worth much until they are gathered and prepared. There are plenty of shrimp in the sea, but no one can eat them until they are caught. There’s plenty of wheat but refining it into flour is tedious and time-consuming. The ingredients themselves do not make a meal. You need to coat the shrimp in seasoning, then drench them in flour and fry them in oil for a few minutes – I throw in diced onion and red pepper for some extra pizzazz. A po’boy only has value once its fixins have been assembled. We generate value every time we do something socially necessary. Anytime we cook a meal or make art, we’ve generated value. 

    shrimp po'boy sandwich

    All the capital in capitalism was created through labor. Not only are we the driving force behind history, but we will also outlast the bourgeoisie. This historical significance is why we Marxists call the working class the proletariat. The latter includes the abstract force that comes with generating society’s value. This is why labor strikes hurt the bourgeoisie: because they need our labor. The bourgeoisie need us, but we don’t need them. The most powerful thing we can do as workers is withhold our labor. Union organizer Big Bill Haywood understood this; as he put it: “If the workers are organized, all they have to do is put their hands in their pockets and they’ve got the capitalist class whipped.” 

    The po’boy sandwich gained popularity during a 1929 boxcar strike. Sympathetic cooks would fill some bread with whatever cheap ingredients they could afford to give away. When a union striker would order, the cashier would tell the cooks, “Here comes another poor boy,” so they would know to load up the sandwich. Then they’d write “Po’boy” on the order. Those po’boy sandwiches might be the only thing those striking workers ate that day, the cooks knew how badly those strikers needed a meal and they were happy to help. That level of working class solidarity is what we need today.  

    1920s Martin Brothers sandwich shop on St. Claude and Touro  “Originators of Poor Boy Sandwiches”
    Martin Brothers on St. Claude and Touro “Originators of Poor Boy Sandwiches”

    Class solidarity is something we see all the time, but usually, we see bourgeois class solidarity. Bourgeois media, be it fiction or news, tends to reward those who reinforce the status quo while delegitimizing any voices calling for change. Even when their influence as individual brands is limited, their collective influence as a class gives them strength. Commercials are the bourgeoisie promoting its own interests. They exist to reinforce the convention that proletariat solidarity shouldn’t exist. 

    Proletariat solidarity is why we have the advantages we have today. Eight-hour workdays and five-day workweeks became the norm after union strikes gave the working class bargaining power. Employee health care and paid time off exist only as long as workers fight to maintain those privileges. The bourgeoisie would rather have us work every day with no benefits and little pay, but they don’t because they fear proletariat organization. 

    The bourgeoisie constantly exert control over the proletariat. While at work, they dictate where we go, what we wear, and for how long. When we’re not working, they interrupt our free time to manipulate our spending habits and even our thoughts. Advertisements don’t exist just to make money; they exist to influence society. Any time we aren’t fighting for ourselves, we are losing. There are plenty of ways to fight back: educating yourself is the first step. Knowledge is power, and it is power we need to make changes in society. Organizing with like-minded people – whether politically-minded or just coworkers – is another. And class solidarity? This is the easiest one for sure. Don’t cross the picket line when there’s a labor dispute. And if you have the opportunity, give a striking worker a sandwich.

    Zeta Mail

    This post was originally published on Real Progressives.

  • At last week’s NATO summit, British Prime Minister Keir Starmer announced that his country would be buying a dozen F-35A fighter jets from the U.S., each one capable of carrying a payload of tactical nuclear weapons. It marks the first time since shortly after the end of the Cold War that U.S. nuclear weapons capable of being dropped from aircraft are to be stationed in the U.K.

    Source

    This post was originally published on Latest – Truthout.

  • The Supreme Court issued a wave of opinions last week, wrapping a 2024-25 term filled with major victories for Donald Trump’s agenda. Amid high-profile decisions on nationwide injunctions, LGBTQ books, trans health care, and more, the court made the unusual choice to delay a ruling on Louisiana v. Callais: a redistricting case that could alter the future of voting rights across the country.

    Source

    This post was originally published on Latest – Truthout.

  • The Senate is on the verge of passing the distinctly misnamed “big beautiful bill.” It is, in fact, one of the ugliest pieces of legislation to come out of Congress in living memory. The version that passed the House recently would cut $1.7 trillion, mostly in domestic spending, while providing the top 5% of taxpayers with roughly $1.5 trillion in tax breaks. Over the next few years…

    Source

    This post was originally published on Latest – Truthout.

  • Pride month was established in June to acknowledge a pivotal event in queer American history — the Stonewall Uprising. On June 28, 1969, a popular gay bar in New York City was targeted by a police raid, as it had been countless times before. But on this occasion, the patrons fought back. The story is common knowledge to most queer people in the U.S., but some details bear retelling.

    Source

    This post was originally published on Latest – Truthout.

  • In the years since our now-Vice President J.D. Vance published his disingenuous memoir Hillbilly Elegy — which many Appalachians criticized as “poverty porn” designed to launch his political career — Appalachians have continued our tradition of “talking back.” We published books like What You’re Getting Wrong About Appalachia (2018) and Appalachian Reckoning: A Region Responds to Hillbilly Elegy…

    Source

    This post was originally published on Latest – Truthout.

  • Earlier this month, Donald Trump took his war against California and its web of environmental policies to a new extreme. Around the same time as he was federalizing the California National Guard and preparing to deploy hundreds of marines into Los Angeles, at Trump’s behest, Congress was voting to overturn California’s state laws phasing out the sale of new gas-based passenger vehicles by…

    Source

    This post was originally published on Latest – Truthout.

  • I’m always consumed by the same question: How will this endless, brutal spectacle of killing finally end? Will it be like a movie — justice prevailing, liberation won, goodness triumphing over evil? Will the ending even be worthy of the horrors we’ve endured? Or will it all fade away in an open-ended scene, full of unknowns, unanswered questions, and the absence of closure?

    Source

    This post was originally published on Latest – Truthout.

  • My dear friend, Bill Moyers, died yesterday. He was the finest interviewer I’ve ever worked with, probing, fearless, and profoundly attuned to both the fragility and the enduring promise of democracy. With a rare combination of moral clarity and intellectual generosity, Bill devoted his life to illuminating the dangers that threatened the democratic imagination and nurturing its most humane…

    Source

    This post was originally published on Latest – Truthout.

  • In the final sprint leading up to Zohran Mamdani’s historic win on Tuesday, the New York City mayoral primary took on an unusually refreshing tone: one of cooperation. Shortly before early voting started, Mamdani, a state assemblymember and unabashed democratic socialist, cross-endorsed with City Comptroller Brad Lander. It was a good match. In spots where 33-year-old Mamdani’s political…

    Source

    This post was originally published on Latest – Truthout.

  • A watershed moment in the fight to hold corporations accountable for complicity in Israel’s war crimes: A.P. Møller Maersk has become the first global shipping company to halt the transport of goods to and from Israeli settlements after facing increasing pressure from the Mask off Maersk campaign. This marks a seismic shift in corporate accountability, and in the shipping and logistics industry as…

    Source

    This post was originally published on Latest – Truthout.

  • Listen to this article

    Liberal elites have always pledged allegiance to capital over people. They pretend to be pro-working class but quietly usher in fascism for fear of the evil S-word: socialism. Today, we’re seeing militarized police and the National Guard being called in to crush protests against US-funded genocide and racist anti-immigration policies. A century ago, Italy’s liberal elite watched Mussolini’s Blackshirts brutalize leftists in the streets because those elites fully bought into the idea that fascist violence was better than socialist governance. Time and again, liberals only pretend to fight against rising authoritarianism because actually winning that fight would threaten the capitalist order that benefits them. 

    The stark reality we’re up against is that capital needs to keep all its consumption units (us!) isolated, desperate, and afraid of each other. It’s the time-tested recipe for waging war on the working class. 

    Italy’s liberal government in the 1920s maintained the fantasy that they could remain “neutral” between socialist workers and fascist paramilitaries. When factory occupations spread across Turin and Milan, and peasants seized unused estates, the liberals didn’t know what to do. They feared empowering the left more than they feared the fascist reaction. Their courts bent a knee to Mussolini’s squadristi while they violently suppressed communist organizers. Their police stood aside as Blackshirts burned union halls, but then cracked skulls of striking workers who were blocking scabs.

    Blackshirts with Benito Mussolini during the March on Rome, 28 October 1922. 

    “Liberal elites tolerated fascist lawlessness because it destroyed what they feared most: the factories and fields humming with workers’ councils.” – Clara Mattei, The Capital Order 

    US Democrats’ refusal to wield state power isn’t incompetence, it’s class discipline. Every feigned helplessness (“the Senate parliamentarian said no,” or “we need Republican votes”) reveals the truth: liberal governance exists to enforce capital’s boundaries. With a few pen strokes, the Biden administration could have erased all student debt, as they did for $143 billion of it. They could have ordered Medicare to negotiate drug prices down to $0 tomorrow, as the VA already does. They could have abolished the debt ceiling farce, as Treasury’s Platinum Coin option demonstrates. 

    These aren’t hypotheticals. They’re deliberately unused weapons in the state’s arsenal. Why? Because each would disempower creditors, disrupt insurance &  Big Pharma profiteering, and expose the debt ceiling as yet another class war tactic.  

    Look at the recent Democratic mayoral primary election in New York City. The Democratic Party doesn’t fear left primary challengers, it manages them. It allows just enough dissent to let off steam, just enough “progress” to keep up the supply of hopium, but never enough to actually shift power. AOC’s victory was absorbed into the machine. Sanders’ movement was neutralized. Mamdani’s win will either be crushed outright or, if he somehow makes it past the general election, immediately shackled by the party’s real power brokers. That’s the function of the Democratic Party: not to represent voters, but to discipline them.   

    The left keeps falling for the same trick, election after election. We pour energy into primary battles, celebrate narrow victories, and then act shocked when the party’s backroom operators step in to void the results. We shouldn’t be shocked though – the DNC already told us (in court, under oath!) that it doesn’t owe voters a damn thing.  

    The “political will” deficit is a power surplus for capital. When liberals plead procedural constraints while rubber-stamping $900 billion military budgets, expanding ICE detention camps, bailing out Silicon Valley Bank in 48 hours, they’re not failing. They’re succeeding spectacularly at their real mission, which is protecting capital’s veto over human needs. This is what class rule looks like with a government that can instantly mobilize trillions for banks and bombs while imposing devastating austerity.  

    It’s a government that claims ‘no money’ exists to house the homeless while 16 million homes sit vacant. It’s a government that claims spending is out of control and we can’t possibly feed children, while farmers are paid to destroy crops. It’s a government that claims nationalized healthcare would bring about long wait times and death panels while underfunded hospitals are already closing in rural areas and corporate consolidation is driving small medical practices out of business. 

    The “neutral” state is a myth. Every inaction is a choice to preserve the hierarchy where capital commands and people are forced to beg. Every inaction by those in power is deliberate. 

    Waiting for establishment politicians to act has always been a losing strategy. Civil rights victories followed decades of illegal sit-ins and economic boycotts. Even the New Deal didn’t happen because politicians suddenly grew hearts – it came from worker uprisings that shook the system. The specter of communism, still lingering from Russia’s 1917 Bolshevik revolution, haunted America’s elites. Terrified of labor’s ultimate victory here, they granted concessions only after strikes and boycotts began to make business as usual impossible.  

    Half-measures and performative platitudes have made 21st century liberals functionally indistinguishable from their supposed opponents. We’ve seen this before. The Italian liberals handed power to Mussolini rather than risk socialist victory. Social Democrat leaders in 1930s Germany refused to form a coalition with the communists against Nazism.    

    Friedrich Ebert of the Social Democratic Party (SPD), who became the new chancellor, and General Groener, with whom Ebert made a pact to prevent a communist revolution.  

    “As in many other countries past and present, so in Germany, the Social Democrats would sooner ally themselves with the reactionary Right than make common cause with the Reds.” – Michael Parenti, Blackshirts & Reds 

    We have the power to break the cycle by acknowledging what earlier movements let slide: that state power under capitalism cannot be reformed, only replaced. Every community fridge, every eviction blockade, and every wildcat strike builds muscle memory for the revolutionary change of hearts & minds we need. The fascists already have their playbook. Their police, military, and private militias are already on duty to suppress any & all dissent while liberals waste time debating procedural rules. 

    Our task is to build dual power structures that make the capitalist state unnecessary for survival. Mutual aid networks must evolve beyond temporary crisis response and one-off GoFundMe drives into permanent alternative infrastructure. Let’s replace broken promises with community land trusts that evict BlackRock, worker councils that redirect production to meet our needs, and neighborhood assemblies that redistribute resources without waiting for permission from the oligarchy’s crumbling institutions. 

    These are the logical next steps beyond existing tenant unions, food distribution projects, and strike funds. The more we can meet people’s material needs through collective action, the less hold the decaying system has over us. We need to get into a position where our communities are already practicing self-governance. 

    The Democratic Party will never be a vehicle for liberation. It will occasionally let a leftist through the gates, either to co-opt them or to make an example of them – but it will never, ever surrender control. Our way out is to stop begging for scraps and start building real power elsewhere: in our own communities, in our workplaces, in organizations that answer to the working class and nobody else. Otherwise, we’re just playing a rigged game – and we all know Lucy always pulls away the football. 

    Only organized people power can stop what’s coming. Not petitions. Not voting drives. Not appeals to decency. The networks of community & working class solidarity we build today will determine whether we bow to fascism with weak individualism or stand as an unbreakable collective. 

    The time for accepting incrementalism is over. Bipartisan compromise is a fairy tale. We need to become the crisis that capital cannot contain. 

    This post was originally published on Real Progressives.

  • As an Iranian, I felt a surge of relief — and cautious hope — when I heard news of the ceasefire between Iran and Israel. The bloodshed had gone on for 12 long days. The killing, the airstrikes, the relentless tit-for-tat violence — it all had to stop. If for nothing else, for the sake of the people on both sides. Now, of course, Israel’s massacre in Gaza must end, too. But even in that…

    Source

    This post was originally published on Latest – Truthout.

  • Zohran Mamdani’s win in Tuesday night’s Democratic primary for mayor of New York City has delivered a shock to the political establishment nationwide, forcing media pundits and Democratic Party leaders alike to countenance the possibility that unapologetic advocacy of working class political priorities like free universal child care, free buses, and rent freezes can appeal to a broad swath of the…

    Source

    This post was originally published on Latest – Truthout.

  • Before all the images of smoldering cities, of hooded men tortured and beaten, and of bloodied bodies lying in the dust, there was Colin Powell holding up a vial. On February 5, 2003, the then-U.S. secretary of state appeared before the United Nations Security Council and made a case for war with Iraq. Powell claimed that U.S. intelligence had shown that Iraqi President Saddam Hussein was…

    Source

    This post was originally published on Latest – Truthout.

  • It’s been three years since Dobbs v. Jackson Women’s Health Organization, an odious Supreme Court ruling that has unleashed a veritable crisis of rights, health, and safety for people who can become pregnant. Since the Supreme Court overturned Roe v. Wade in 2022 and sent abortion’s legality back to the states, abortion bans have spread widely across much of the U.S. As of June 2025…

    Source

    This post was originally published on Latest – Truthout.

  • Sometime in the late 1980s, I was talking with a friend on my landline (the only kind of telephone we had then). We were discussing logistics for an upcoming demonstration against the Reagan administration’s support for the Contras fighting the elected government of Nicaragua. We agreed that, when our call was done, I’d call another friend, “Mary,” to update her on the plans. I hung up.

    Source

    This post was originally published on Latest – Truthout.

  • On June 10, my brother Mohammad and my cousin Kareem set out on foot at 2 am from Rimal neighborhood in northern Gaza, walking nearly 15 kilometers to the aid distribution point located near the dividing line between the north and south of the Strip. These aid points are under full Israeli control and are deliberately opened during the most dangerous hours — deep in the night…

    Source

    This post was originally published on Latest – Truthout.

  • Inflation is not some natural economic phenomenon, nor is it merely the result of too much money chasing too few goods. That’s the myth popularized by Milton Friedman and his monetarist acolytes. Rather, inflation is always and everywhere a function of the power of monopolies and capital to manipulate scarcity and extract greater profits from the working class. We’ve seen this reality on full display in recent years, from the pandemic profiteering of 2020-2022 to the ongoing corporate price-gouging under the guise of “supply chain issues” and “inflationary pressures.” As economist Isabella Weber demonstrates in her work on sellers’ inflation, corporations leverage moments of crisis to hike prices far beyond cost increases, not because they must, but because they can. The pandemic was a textbook example: under the cover of public confusion about government spending, firms engaged in brazen price-gouging, with some sectors seeing profit spikes of up to 1000%. Even now, as inflation cools, corporations from PepsiCo to ExxonMobil continue to post record profits while blaming “the economy” for price hikes. 

    From a Modern Monetary Theory (MMT) perspective, inflation is not caused by government spending in and of itself, but by how that spending interacts with real resource constraints. Warren Mosler, a foundational MMT thinker, argues that inflation occurs when the currency-issuing government chooses to pay higher prices – whether through excessive military expenditures (like the $175 billion in new Ukraine and Israel funding just passed by Congress), poorly targeted subsidies (such as the unchecked corporate bailouts of the CARES Act), or failure to regulate corporate profiteering. Yet mainstream economics, particularly since the Bolshevik Revolution, has deliberately conflated inflation with fiscal profligacy to justify austerity. As Clara Mattei meticulously documents in The Capital Order, the push for austerity economics was not born out of necessity but as a political project to discipline labor and safeguard capitalist hierarchies. It’s a playbook we see repeating today as the Fed jacks up interest rates despite clear evidence that corporate greed, not wage growth, is driving inflation. 

    The Federal Reserve’s approach to inflation by raising interest rates is not just ineffective but actively counterproductive. Mosler has long argued that the Fed misunderstands inflation entirely. When central banks hike rates, they signal to industry that higher costs are acceptable. They aren’t curbing inflation; they’re embedding it. Worse, higher interest rates redistribute wealth upward. Asset-holders reap windfalls from increased yields while workers face layoffs and wage suppression. When the Fed raised rates to 5.5% in 2023, corporate profits hit record highs while real wages stagnated and layoffs spiked in tech, media, and manufacturing. The Fed’s tools are not designed to stabilize prices for the many, but to protect the financial interests of the few. The class bias is undeniable. 

    The solution to inflation is not austerity, but structural intervention. If supply chain disruptions drive price surges (as with the ongoing Red Sea shipping crises), the answer is public investment in resilient infrastructure and domestic production, not reliance on exploitative global supply chains. If wages rise after decades of stagnation (as with the UAW’s historic 2023 contract wins), the resulting price adjustments are a one-time recalibration, not runaway inflation. And if artificial scarcity is the culprit, as is blatantly the case in sectors like pharmaceuticals (where insulin price-fixing continues) and housing (where private equity firms hoard homes), then the state should break corporate price-setting power through antitrust action, price controls, and direct public provisioning. In a noncapitalist system, the state would surely take these measures. The refusal to do so is not an economic oversight but a political choice. As Mattei’s work reveals, capitalism relies on the myth of inflation as an uncontrollable force to justify dismantling social programs and suppressing wages. It’s a tactic we’re seeing today as Republicans demand cuts to Social Security and Medicare under the guise of “fighting inflation.”  

    Under capitalism, inflation is weaponized against the working class. Rising rents (up 30% since 2020), food prices (with “shrinkflation” hitting 95% of grocery items), and energy costs (as oil giants post $200 billion in profits) are wielded as a cudgel to enforce discipline, forcing workers into longer hours, reduced benefits, and precarious gig labor. Yet inflation is not inherently harmful to all. As MMT scholars note, inflation erodes the value of debt, which is a boon to indebted households. The real issue is not inflation itself, but whether wages keep pace. For decades, they haven’t. Capital has seized an ever-larger share of income while labor’s share stagnates, a direct result of weakened unions and systemic attacks on working-class organizations. The recent wave of strikes – from autoworkers to Hollywood actors – show the path forward: militancy works.  

    The path forward demands we do more than tinker at the edges. Princeton researchers have confirmed what the 2024 election cycle makes obvious: the US is not a democracy but an oligarchy, with policy crafted to serve capital’s interests. Inflation discourse, like all economic narratives under capitalism, is a battleground. To reclaim it, the working class must reject the lie that inflation stems from government generosity (like Biden’s stimulus checks) and instead recognize it as a symptom of capitalist predation. The alternative is not technical policy tweaks, but a fundamental challenge to the capital order – one that replaces private control with democratic planning, and scarcity with solidarity. The recent successes of rent control campaigns in cities like Minneapolis and the growing push for public utilities (as in Maine’s Pine Tree Power initiative) prove another world is possible if we’re willing to fight for it.  

    References:  

    • “Corporate Profits Reach Record High Amid Inflation,” Financial Times (2023)   
    • Bureau of Labor Statistics reports on rent/food inflation (2024)   

    This post was originally published on Real Progressives.

  • Democrats claim that they are looking for candidates to fix their electoral losses following Donald Trump’s victory. The data shows that Democrats lost ground among young men, urban communities of color, and among voters who cared about affordability issues. Much of the Democratic Party’s leadership is so old that three Democratic Congressional Caucus members died while still in office in 2025…

    Source

    This post was originally published on Latest – Truthout.

  • One of the founding myths of modern economics is the claim that money developed as a medium of exchange specifically to overcome the limits of bartering. It’s an old idea that goes all the way back to at least Aristotle, but in more recent times it was championed by Adam Smith and it’s become an article of faith everywhere from college textbooks to the elite intellectual circles of academia.  

    According to the standard version of the story, the world before money was cumbersome and inefficient. In order to trade goods with other people, you had to have exactly what they wanted and they had to have exactly what you wanted, the famous “double coincidence of wants.” If you have shoes to trade and want eggs in return, but the other guy who has the eggs actually wants milk, then you two will not be able to exchange your goods. But the invention of money solved this problem quite nicely. As long as you have it, you can always use money to buy anything for sale in a market. You’re not restricted to trading with someone who will only accept milk or eggs because everyone will accept money. The big achievement of a monetary economy, according to the standard neoclassical view, was to help facilitate more market exchanges and transactions. In effect, money acts as a kind of lubricant for market activity; it lets people trade more and faster. It’s a nice story, but it’s also dead wrong.  

    From David Graeber to Richard Lee, anthropologists have long demonstrated that virtually all contemporary yet pre-modern societies, along with most ancient societies, distributed resources on the basis of credit and social trust, not tit-for-tat exchanges. Early economies mostly operated through gift-giving and communal sharing; there was virtually no market exchange of the kind that we see in our world. Overlapping systems of credit and debt governed the process of economic distribution. People would share things with each other by simply making polite demands on the basis of social trust and custom. Failure to share with members of your community could lead to social ostracism and exclusion. Once a person gave something away, like a fish, the other person receiving the gift became indebted to the creditor, meaning she had to give something back to the creditor in the future. She could settle the debt through anything considered roughly equivalent by the standards of her society. For example, a spear might be seen as having about the same worth as a fish, so she could give back a spear to the person who gave her the fish. Notice that there’s no immediate exchange here; the fish is given on credit, on social trust, and the spear doesn’t have to be given back until much later. There’s no bartering happening either; the fish and the spear are not getting traded at a fixed point in time. In fact, they’re not being traded at all. They’re being used as accounting tools to satisfy a social obligation. Any other objects or resources would do, as long as they’re perceived to be roughly equivalent. Settling a debt with something perceived as vastly unequal or deficient could lead to resentment and even violence.  

    Credit dominated even among the early ancient societies that used various forms of money, like the Sumerian civilization. The Sumerians did have silver rings and ingots and denominated much of their debts in silver. But as Graeber pointed out, most people didn’t actually settle these debts with silver because they simply didn’t have any, so credit was the order of the day. People would show up at the local tavern or temple and borrowed what they needed or wanted on credit, then later paid back their debts with whatever they had, usually with their crops and grains.  

    Furthermore, the double coincidence of wants is a fake problem that exists in the imagination of bored economists. In the real world, people grow up in common social environments, meaning that their desires are highly correlated and socially constrained. No one who grows up in a typical social environment has completely random and arbitrary preferences. It’s almost inconceivable that someone in an ancient village would have wanted something that his wider community did not have. Even in the modern age of capitalism, where people are overwhelmed by millions of options and commodities, our desires and preferences are still influenced and constrained by our social communities.  

    Why do economists care about the history of barter and money in the first place? Neoclassical theorists repeat this nonsense because it’s a way of justifying and excusing the grotesquely corrupt distribution of wealth under modern capitalism. The idea is simple: if what you get in life is determined by free and fair exchanges in an impartial market, then the resulting distribution of resources is also fair and, in some sense, “morally just.” This is the fundamental reason why neoclassical theory is obsessed with the concept of exchange: it’s a way of hiding and obscuring the social relations and power dynamics that actually determine who gets what in life. There’s something about the concept of exchange that feels so reciprocal and mutually acceptable: you give me what I want (shoes), and I give you what you want (money). I have comprehensively refuted this silly position in many of my Substack posts, which you can read for free. The main problem for the neoclassicals is that the terms and standards which govern the exchange process are themselves determined by other factors. The distribution of wealth, and virtually all other economic outcomes, are strongly affected by everything from wars and natural disasters to political and class struggles. These factors collectively impose powerful constraints on how market exchanges happen. Focusing on the process of market exchange is just a cheap trick for marginalizing these large-scale degrees of freedom. Markets never bring about order on their own, they emerge from pre-existing political and economic orders. They are not spontaneous, but constructed. 

    Originally posted at https://substack.com/@technodynamics/note/c-125005177  

    This post was originally published on Real Progressives.

  • Rani Dasi, a U.S. citizen whose roots in North Carolina stretch back nearly two decades, has cast a ballot in at least 20 elections without incident. But her right to vote, along with hundreds of thousands of voters in the state, is now at risk after the Justice Department filed a federal lawsuit which may wrongly remove eligible voters like her from the rolls. On Tuesday, Dasi and others went to…

    Source

    This post was originally published on Latest – Truthout.