Cairo food riots, 1977 © John McIntyre | Flickr
CapitalismEssaysFeature

The IMF Makes Class Warriors of Us All

On October 24, 1973, the Egyptian military, under the command of General Hosni Mubarak, and under instructions from President Anwar Sadat, dealt an unprecedented blow to the most powerful regime in the Middle East: Israel. As the Egyptian army crossed the Suez Canal and established bridgeheads in the Sinai peninsula, it changed the fortunes of a hitherto shaky Egyptian presidency. Until this victory over IDF forces, Sadat had struggled to appear as the legitimate heir to the iconic Gamal Abdel Nasser, but this victory, which wiped out the stain of defeat of 1967, in one stroke turned Sadat from a hesitant, accidental president into the batal al-‘ubur or Hero of the Crossing.This event and this moniker were all the more significant in light of what followed. …

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Day 60 of Occupy Wall Street © David Shankbone | Flickr
Essays

Minding the Gap of “The Great Divide”

A review of the book by Joseph Stiglitz

In the wake of Occupy Wall Street and the anti-austerity protests in Spain, Greece, and elsewhere around the world, economic inequality has emerged as one of the more hotly debated issues in the public sphere. One of the more prominent voices in the discussion is economist Joseph Stiglitz, whose May 2011 Vanity Fair article “Of the 1%, by the 1%, for the 1%” …

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Saving money for lottery © Lisa Brewster | Flickr
EssaysLiberal Democracy in Question

America as a Lottery

In a series of recent works on the rise of inequality in the United States and other countries, economists have proposed a number of policies that might help reverse current trends. But critics of Joseph Stiglitz, Paul Krugman and Thomas Piketty also often complain that their proposals aren’t feasible politically.

But why should the proposal of polices meant to promote a more egalitarian society have become a political non-starter in the United States, of all countries? …

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