austerity

FeaturedOrganized Labor & Worker Organizing

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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FeaturedU.S. Politics & Society

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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