The Parallel Parliament

Glen Pearson

Posts tagged “economy

Middle-Out

Posted on February 25, 2016

“AMERICA’S PREMIER SELF-LOATHING PLUTOCRAT“ – no kidding, that’s what they call Nick Hanauer. He’s been in these blog posts before, where we spoke of his criticizing his peers for robbing the wealth of the United States instead of investing in productivity. He’s now at it again, only this time championing a $15 minimum wage south of the border. Again, his peers and the corporate elite are irate with his position, and small business owners aren’t wild about it either, but his rationale, and the way he publicizes it, is carrying some momentum. In fact, the way he sees it, it’s not the labour leader or minimum wage employee who’s the best face of the effort, but his own. His rationale? “A guy like me…

50 Years Ago, Martin Luther King Jr. Said We Had the Resources to End Poverty. What Happened?

Posted on January 20, 2016

ALL THIS WEEK WE’LL BE LOOKING at the legacy of Martin Luther King Jr. and if it still has a prevailing effect on the modern era. He had certain core principles he stuck to, elaborated upon, and ultimately died for. We respect him. We quote him. Some even venerate him. But in so many ways we have refused to walk the path he led. The day following his receiving of the Nobel Peace Prize in 1964, King delivered his famous Nobel Lecture titled, “The Quest for Peace.” His reasonings didn’t go in the direction people anticipated. He wondered how we can really have peace, or even maintain it, if we continue to leave large swaths of our populations in poverty. Then he delivered a stark…

Basic Income: An Idea With a History

Posted on November 4, 2015

ARTIST ANDY WARHOL OFTEN EXHIBITED FASCINATING INSIGHTS into the human condition that, at times, became colloquialisms. At one point he noted, “They always say time changes things, but you actually have to change them yourself.” And that is true. Yet there are those occasions when time itself can be of assistance. Take the concept of a basic income as a measure of that truth. Yesterday we noted how the idea of some kind of baseline income could be of great help to the marginalized. Many progressives are shocked when they discover that libertarian economist Milton Friedman threw his support behind early efforts of what was then called a “Guaranteed Annual Income,” but which he preferred to label a “negative income tax.” From across the…

If You Want to Fix Poverty, Fix the Economy

Posted on October 27, 2015

HE AWOKE FROM A DEEP SLUMBER A couple of weeks ago to the sound of phone ringing incessantly, but when he answered he didn’t mind. Angus Deaton was being informed by someone on the other end of the phone that he was being awarded the Nobel Prize for Economic Science. Interestingly, it was how he shed new light on persistent poverty that earned him the credit. Or as the Nobel committee put it: “To design economic policy that promotes welfare and reduces poverty, we must first understand individual consumption choices. Angus Deaton has enhanced this understanding.” Deaton wasn’t so much focused on large market trends as on the average household and how choices are made within it. The Nobel committee has recently honoured a…

It’s All Greek to Us

Posted on July 14, 2015

AVERAGE CITIZENS CAN BE FORGIVEN for a general confusion and alarm emerging from the Greek debt crisis. The sheer financial numbers, opinions, and economic layers are dizzying. For every economic theory coming from established experts comes another established opinion stating exactly the opposite coming from others. Let’s put the various viewpoints aside for a brief moment, if indeed we can, and consider the trends emerging from the crisis. First, it’s not really the Greek currency that’s back of all these difficulties but the euro itself. Across the vast networks of the EU the rips appearing because of the competing policies from individual member nations are increasing and troubling. Britain particularly appears on a collision course with the EU framework, especially now that British PM David…

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