How Capitalism Deals with Inequality

President Obama and the Democrats have finally decided, five years after his election, to begin talking about the issue of income inequality, which has been increasing since the early 1970s. But their rhetoric makes it sound like inequality is a weird byproduct of capitalism when, in fact, it is a key feature of an economic system that relies on poverty and exploitation. This is the best system ever conceived?

Adbusters Sells Out Occupy Wall Street

UPDATED: Turns out the email from “Adbusters” below was actually from another group. See my follow-up blog post for details.

So I got this email from Adbusters Magazine this morning:

What made this crass attempt to commercialize the crashed-and-burned OWS movement even ickier was that it recently followed this:

When I asked how much writers would be paid for their 50-300 word intimate confessions of their deepest, darkest psychic and psychological secrets, the answer came back: “nothing.”


Let’s sum up: Adbusters wants us to pay them money. While they pay workers — and writers are workers, especially when they’re working for a magazine that retails for $12 — nothing.

Please explain: What, exactly, is the difference between the Koch Brothers and Adbusters? Answer: The Koch Brothers don’t expect workers to work for free.

If the publishers and editors of Adbusters didn’t pay themselves anything, I might not bring this up. But that’s not the case. Which means they’re exploiting writers — emotionally fragile writers to boot! — for their own gain. There were divisions within the movement, but everyone would agree that this is NOT what Occupy Wall Street was/is about.


Second PhD

Universities love PhD students because they’re a source of cheap, brilliant, disposable labor. What’s in it for the students? Debt, underemployment and a salary 3% higher than masters graduates.

Waiting for Arianna

Arianna Huffington sells her blog to AOL for $315 million. But what about the thousands of bloggers who made her rich by working for free?