Via Naked Capitalism: Outsized Pay on Wall Street Persists
It’s important to stress that this is a new pattern. In the stone ages of my youth, top earners in investment banking were on a par roughly with top heart surgeons and when someone became a partner at Goldman, his cash compensation fell sharply. The old line was that partners lived poor and died rich.
And their aspirations were modest by contemporary standards: a nice apartment in the better sections of the Upper East side, having their kids in private schools, and having a summer home, likely in the Hamptons (which were much cheaper then than now).
Unrepentant Marxist: Thoughts on Arizona On why it’s a mistake to obsess over Palin’s graphic design choices:
I think what leftists have to understand is that violence and repression today directed against the popular movement is far more based on legality than mob violence or terrorism.
Arizona’s reactionary stew is a product of class antagonism that is leading toward a showdown between the rulers and working people. The ruling class is using “legal” methods to keep working people and oppressed nationalities under its thumb, even as we understand that its tactics might change in the future, as antagonisms grow irreconcilable. But if we cannot base our own strategy and tactics on the true relationship of class forces, then we will end up making mistake after mistake.
Via warrenellis.com: The Not .99 Method Of Setting Up An Automated E-book Store For iOS, Android, or anything else
Link gmail, a pdf file hosted on Google Docs, and PayPal (or perhaps any other e-payment service) to sell your own ebooks! No muss, no fuss.
[[Richard D. Wolff]] Attacking Public Employees: Will New York Lead? — From 2000 to 2010, personal income taxes rose 50%, sales and excise taxes rose 24%, and corporate and business taxes rose the least, 20%.
One reality jumps out from these numbers. If taxes on corporations and businesses were raised by 50% over what they yielded in 2000 — equaling what happened to New York’s personal income taxes — New York State’s budget would get much healthier. Such a business tax would generate more new revenue for New York than would be saved by the new governor’s proposed wage freezes and other public employee cutbacks.
When Green Matters — Horch and Eder are examples of backyard Greens, whose influence spreads virally through human contact and experience and not through the mass media. … The big parties gave up human relationships long ago. Which is why we have such a hard time relating to them. But you can’t text your way to the presidency, you can’t Facebook a revolution and you can’t save the planet with Twitter. At some point real people have to join with, talk to, and help other real people.
(Unfortunately, the article assumes you can’t be an economic radical and have human connections. While some of our most vocal Marxists have exhibited…anti-social tendancies…I see that more as a side-effect of the marginalization of Left economics than a cause. Who would study Marx, up to this point, besides uber-geeks?)