Tag: austerity

Organizing in a Brave New World

Austerity, growing inequality, and the economic and political domination of billionaires, bankers, hedge funds, and giant corporations make the current moment ripe for birthing a movement that can radically transform the country and the world. This is a time of great peril, but also of extraordinary opportunity and—yes—reasons for hope. The last four decades have been characterized by unrelenting attacks on the working class, the weakening of unions and the financialization of capitalism.

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Debtors’ Island: How Puerto Rico Became a Hedge Fund Playground

You could call it a perfect storm: a fiscal crisis converging with a deep secular economic decline.1 Once touted as the showcase of U.S.- led economic development, debt-strapped Puerto Rico is currently embroiled in a struggle for survival. During the mid-twentieth century, Puerto Rico grew at a rapid pace, betting on cheap labor, privileged duty-free access to the U.S. market, and tax incentives for U.S. companies. By the 1970s, however, the formula had lost steam and ...

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The Greek Inquisition: International Finance, Syriza, and the Greek Labor Movement

Why has the new Greek government failed to accomplish so much of what it had promised? And where does that leave the Greek labor movement? The government’s and the labor movement’s problems stem from the same fact, which has endured since the February 2012 signing of the second bailout agreement: Greece is no longer a sovereign nation state.

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White and African American males hold signs that read: "The Dress Shipping Clerks' Won't Cross the Picket Line. We Stand United with the Dressmakers Union!" 1958.

Green Capitalism Won’t Work

For the last 20 years, unions in the U.S. and internationally have generally accepted the dominant discourse on climate policy, one that is grounded in assumptions that private markets will lead the “green transition,” reduce emissions, and stabilize the climate over the longer term. Indeed, unions began attending the climate negotiations convened by the UN in the early 1990s, a time when the “triumph of the market” went unchallenged and the climate debate was awash with neoliberal ideas. Unions therefore focused on articulating the need for "Just Transition" policies.

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