Category: November 2023

The Brotherhood of Billionaires

LAWRENCE S. WITTNER – In recent decades, a growing similarity has developed between the Chinese and U.S. economic systems. Despite the Chinese Communist Party’s talk of “socialism,” the rapidly-expanding Chinese economy has become increasingly capitalist, with the private sector accounting for about two-thirds of China’s Gross Domestic Product in 2021. Not surprisingly, then, the two countries currently lead the rest of the world’s nations in their number of billionaires. This March, according to Forbes, the United States had 735 billionaires (worth a collective $4.5 trillion) and China had 562 (worth $2 trillion) out of a global total of 2,640.

How the National Infrastructure Program Creates Jobs for Today and Tomorrow

DAVID MCCALL – President Joe Biden signed the Infrastructure Investment and Jobs Act (IIJA) on November 15, 2021, unleashing $1.2 trillion for tens of thousands of projects nationwide. It is upgrading transportation, communications, and energy systems while building back manufacturing capacity, generating hundreds of thousands of good-paying jobs, and investing in the middle class.

Reactor Plans Smashed by Costs

WILL WADE – NuScale Power Corp., the first company with US approval for a small nuclear reactor design, is canceling plans to build a power plant for a Utah provider as costs surge. The move is a major setback to the burgeoning technology that has been heralded as the next era for atomic energy.

Israel’s Military Is Part of the U.S. War Machine

NORMAN SOLOMON – In January 2019, House speaker Rep. Nancy Pelosi was recorded on video at a forum sponsored by the Israeli American Council as she declared: “I have said to people when they ask me — if this Capitol crumbled to the ground, the one thing that would remain is our commitment to our aid, I don’t even call it aid — our cooperation — with Israel. That’s fundamental to who we are.” Even making allowances for bizarre hyperbole, Pelosi’s statement is revealing of the kind of mentality that continues to hold sway in official Washington. It won’t change without a huge grassroots movement that refuses to go away.

Seeing Through the Economic Bait and Switch

SONALI KOLHATKAR – The values of the U.S. public are not the same as those of the wealthy and corporations. It took a UN official—an outsider—to point out the dissonance. Furthermore, evaluations of the U.S. economy by the U.S. media and politicians are based on corporate prosperity while the UN’s evaluation is based on individual prosperity.

The War in Israel: Costs and Consequences

MEL GURTOV – That Netanyahu is the only top Israeli national security official who has not accepted any blame for the Hamas attack is indicative. Will postwar Israel again be plunged into political chaos? Will the far right be empowered or discredited because of the war? Will Israel after the war continue expansion of settlements and deprivation of Palestinians’ rights in the West Bank? One outcome of the extraordinary violence seems certain: The hope for Israeli-Palestinian coexistence, not to mention a two-state arrangement, has been dashed for many years to come.