Table of Contents

Preface .................................................................................................. i

Part I: Crisis Capitalism ........................................................................ 1

Capitalist Crisis and the Return to Marx ..................................................................... 2
The Myth of ?American Exceptionalism? Implodes ................................................... 13
The Revenge of Trickle-Down Economics .................................................................. 15
The Crisis Enters Year Five ........................................................................................ 17
In Economic Crisis, Capitalism Delivers the Bads .................................................... 20
A Tale of Two Lootings .............................................................................................. 22
Capitalism and Poverty.............................................................................................. 24
Five Reasons Why the Crisis Persists ........................................................................ 26
Capitalism's Ideological Crutches ............................................................................. 28
Online Education: Another Phony ?Revolution? ........................................................ 31
Capitalism Efficient? We can do so Much Better ...................................................... 33
From Detroit to China to Bangladesh: Capitalism's Costs, Capitalists' Freedom ..... 35
Economic Development in Rana Plaza ...................................................................... 37
Capitalism, Democracy, and Elections ...................................................................... 39
Pure? Capitalism is Pure Fantasy .............................................................................. 41
How Capitalism's Great Relocation Pauperized America's Middle Class ................. 43
US Political Dysfunction and Capitalism's Withdrawal ............................................ 46
Capitalism and Unemployment ................................................................................. 48
Capitalism and Democracy: Year-End Lessons ........................................................ 50
Political Corruption and Capitalism .......................................................................... 52

Part II: Crisis Economics ................................................................... 54
Austerity ........................................................................................................................ 55
US Tax Deal Brings Austerity Closer ......................................................................... 56
Main Street Moves against Wall Street ...................................................................... 57
Why Capitalism is Choosing Plan B .......................................................................... 59
Choosing Ryan, Embracing Austerity ........................................................................ 61
The Truth about Profits and Austerity ...................................................................... 63
The Great Austerity Shell Game ................................................................................ 64
Austerity, US Style, Exposed ..................................................................................... 67
Austerity: Another Policy Mistake? .......................................................................... 69 Taxes............................................................................................................................... 71
Corporations to Government: Give Us More, Tax Us Less ....................................... 72
How the Rich Soaked the Rest of Us .......................................................................... 75
Who REALLY Pays Taxes .......................................................................................... 78
Public Sector.................................................................................................................. 80
Attacking Public Employees: Will New York Lead? ................................................... 81
Public Sector Squeeze (Max Fraad Wolff co-authorship) ......................................... 83
The Real Reason for Public Finance Crisis ................................................................ 86
The Hidden Money .................................................................................................... 88
Social Security's Explosive Injustices ........................................................................ 90
Banking ......................................................................................................................... 92
Bonuses for Bankers, Bankruptcy for Public Services .............................................. 93
Lehman Brothers: Financially and Morally Bankrupt .............................................. 95
Big Finance's Pathology Compels the Logic of Socialised Banking .......................... 97
Debt ............................................................................................................................... 99
S&P's Judgment on US Debt is Substandard and Poor .......................................... 100
Living within Our Means? and Standard and Poor's Downgrade ......................... 102
Deficits, Debts and Deepening Crisis ...................................................................... 104
Europe's Debt Crisis Deepens .................................................................................. 107
Deficits, Debts and Demagogues .............................................................................. 110
The So Called Recovery ................................................................................................ 112
Recovery Noises and Political Taboos ...................................................................... 113
Recovery, What Recovery? ....................................................................................... 116
Economic Recovery for Whom? ............................................................................... 118
After Five Years: Report Card on Crisis Capitalism ................................................ 120
Recovery Hype: American Capitalism's Weapon of Mass Distraction ..................... 122

Part III: Crisis Politics ...................................................................... 125
Government Intervention ............................................................................................ 126
Government Economic Intervention for Whom? .................................................... 127
This is No Bailout for Main Street America ............................................................. 129
Federal Reserve ............................................................................................................ 134
Ben Bernanke's Silence Speaks Volumes ................................................................. 135
Bernanke's Speech was Only a Minor Footnote to Enduring Crisis ........................ 137
Janet Yellen and I were taught to Revere Capitalism. But it's a Failing System ...... 139
Debt Ceilings and Budget Battles ................................................................................. 141
Budget Battles: Sound, Fury and Fakery .................................................................. 142
Fiscal Cliff Follies: Political Theatre Distracts from Key Problems with the Fix ..... 144
Economic Policy Debates: Theatre of Distraction .................................................... 146
Political Economy of Partisan ?Debates? .....................................................................148
On President Obama's Budget.................................................................................. 149
Ongoing Crisis and Liberal Blindness ...................................................................... 151
The Truth about ?Class War? in America ................................................................. 154
The Political Economy of Obama's Re-Election ....................................................... 156
Class War Redux: How the American Right Embraced Marxist Struggle ............... 158
What GOP-Tea Party Risks With Block of New, New Deal ...................................... 161
US Politics' True Bipartisan Consensus: Capitalism is Untouchable ....................... 163

Part IV: Crisis Responses, Going Beyond Capitalism ....................... 165
Occupy .......................................................................................................................... 166
Occupy Wall Street Ends Capitalism's Alibi ............................................................. 167
How the 1% got Richer, while the 99% got Poorer ................................................... 169
The Originality of Occupy Wall Street ...................................................................... 171
Harvard Students Join the Movement ..................................................................... 173
Criticism, Violence and Roosting Chickens .............................................................. 175
Occupy Production: A Vision for Democracy at Work ............................................. 176
Occupy the Corporation ........................................................................................... 178
Debates on the Left ........................................................................................................