Media

You've probably heard it said a gazillion times that nearly all Americans think of themselves as middle class, even if they are dirt poor or filthy rich. This everyman mindset is supposedly a big reason that class consciousness has always been so low in the United States. 

WASHINGTON DC — Today, Demos applauded Leader Pelosi and Representative Sarbanes for co-sponsoring H.R. 20, The Government by the People Act, new legislation aimed at raising the voices of all Americans in the political process and allowing congressional candidates to run competitive campaigns by relying on small dollar contributions.

“Everyone should have an equal say in our democracy through the principle of one person, one vote—not one dollar, one vote,” said Heather McGhee, incoming President of Demos.  

Does extreme inequality make us anxious and depressed? Does it make us narcissistic and egotistical? Yes, yes, yes, and yes. 

Or at least that's the suggestion of a bunch of new research studies that look at how people cope psychologically with high levels of economic and social stratification. That research is summarized in a fascinating piece on the New York Times website entitled "How Inequality Hollows Out the Soul."

In response to a declining voter turnout rate, California recently implemented big reforms to help boost the turnout rate: online registration, same day registration (SDR), and relaxing the vote by mail deadline. A recent report by the Public Policy Institute of California analyzed the impact of the changes and claims that while online registration and the relaxed vote by mail deadline were worthwhile reforms, SDR might not be.

Extreme market forces are corrupting us as individuals – morally and ethically.

Pennsylvania has been trying for almost two years now to download a voter ID law Republican legislators passed into something workable on the ground. They’ve failed at every turn because grassroots organizers have consistently exposed the burdens the law imposes on voters, which courts have taken seriously, and because the state has yet to find a way to administer the law without disenfranchisement being a certified outcome.

When it comes to boosting economic opportunity, President Obama isn’t going to wait for Congress anymore.  

In his State of the Union Address last night, the President made a powerful statement about employers’ obligation to reward work -- starting with his own obligation as the executive in charge of millions of federal contracts. 

Democratic lawmakers on Wednesday applauded low-wage federal contract workers, saying their months of protest had paved the way for President Barack Obama’s upcoming executive order to raise the minimum wage for new contractors.

As long as there have been markets, people have been driven by greed to make irrational investment decisions. When enough people get in on the action, valuations -- the prices of securities -- go haywire, soaring to obscene heights and then crashing in a shower of crushed dreams.

Chasing performance, taking on excessive risk and selling at inopportune times are all as old as capital markets themselves. What is new is the modern regulatory environment and financial innovations such as high-frequency trading. Is today's stock market the same beast it was 20 or 30 years ago? [...]