Capitalism

The Department of Labor’s monthly unemployment report released today shows  an unemployment rate of 3.4% for workers over the age of 55. The unemployment rate has decreased from 3.6% last month to 3.4%, a decrease of 0.2 percentage points.

In addition to imposing a financial cost on older workers, unemployment can also impose a psychological cost. The unemployed are not unemployed by choice. And being deprived of choice creates a feeling of helplessness. According to the Health and Retirement Study (HRS), a nationally representative study of older Americans, unemployed respondents were more likely than both workers and retirees their same age to report a general feeling of helplessness. Among 55 to 64-year-olds, 40% of the unemployed agreed with the statement, …

According to the 2014 United Nations World Urbanization Prospects report, some two-thirds of the world’s population is expected to reside in cities by 2050, more than double the percentage of urban dwellers that existed across the globe in 1950. To manage this growth, policymakers have embraced the notion that cities need to become ‘smart’, …

Anwar Shaikh has been teaching economics at The New School for 42 years. One of the world’s leading heterodox economists, he argues that the neoclassical models taught at most universities are bad tools for analyzing capitalism. He hopes that his recent book, Capitalism: Competition, Conflict and Crisis, can be the foundation for an alternate economic theory and pedagogy. He recently sat down with New School student Ebba Boye to talk about this work.

Why did you write this book? When I first entered economics it was with a wish to understand how the world works. I am from Pakistan, I grew up in a part of the world where disparity in wealth was enormous and growth was slow. My father was a diplomat who was posted in many countries so growing up I observed a diversity of peoples, cultures and economies. In Kuwait I observed how they had more money than they could count,  …

It is election time. I am almost done with the course “Gender and Domination.” However, the echoes of conversations started in that class are proving to be difficult to silence. Among the questions that this seminar has left lingering, the one that has stayed with me the most has to do with the little use that historically psychoanalytic theory seems to have had for political philosophy. Maybe the problem is that I do not know enough about the topic, but it is my impression that the existing collaborations between the two disciplines are scarce at best. Yet I do not think it has to be this way. Thus, in what follows, I present my attempt to engage psychoanalysis with certain political attitudes that I consider problematic. The starting point of my reflection is an article that Drucilla Cornell wrote back in the 1990s as a response to the debate on pornography initiated by Catharine MacKinnon and Andrea Dworkin.  …

The battle for the presidential nomination has exposed ideological and class fault lines within the Democratic Party. The opposition to Hillary Clinton’s position on trade and other economic issues reveal the sense among many registered Democrats that the Party establishment has abandoned their economic concerns. The shift in the class interests of the Party has not been a sudden one, precipitated by the Trans-Pacific Partnership or even NAFTA, but part of a longer story of transformation, a shift of the Democratic base away from its roots in the labor union halls in northern cities and toward white-collar tech workers in the suburbs and gentrified enclaves of major metropolises. Since the 1960s, suburban knowledge professionals and high-tech corporations have supplanted urban ethnics and labor unions as the party’s core constituency. …

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. …