Sam Bankman-Fried was found guilty this week for running a crypto scam and faces years in prison. It seems jurors weren’t taken in by SBF like famed author Michael Lewis, whose new book paints an oddly sympathetic portrait of Bankman-Fried.
Hadas Thier is an activist in New York, and the author of A People's Guide to Capitalism: An Introduction to Marxist Economics.
Once-celebrated crypto mogul Sam Bankman-Fried is now sitting in a Brooklyn jail cell, awaiting trial for several counts of fraud and money laundering. But the scammy Silicon Valley capitalism he represents isn’t going anywhere.
The next time a speculative bubble is massively inflating around a fancy new asset like cryptocurrency and financial carnival barkers are screaming it will change everything, remember Sam Bankman-Fried and how quickly all of his promises proved to be bullshit.
No one expected a union organizing upsurge at Starbucks, but a year ago, one started. That union interest is spreading, including to small coffee shops like Brooklyn’s Daily Press. We talked to several workers there who recently voted unanimously to unionize.
Driven by inflation, the prices of basic goods are spiraling out of control. The Fed’s solution of raising interest rates will hurt average workers. Rep. Jamaal Bowman is proposing a better solution: price controls.
The inflation crisis is squeezing workers. And the only way out of it that is acceptable to capitalists is to squeeze workers even harder.
For decades, capitalists have tried and mostly failed to privatize water supplies all around the world. But when they have succeeded, the result has been toxic health hazards and total disaster.
The racist massacre in Buffalo didn’t come from nowhere. Jacobin spoke to India Walton, last year’s socialist mayoral candidate, about the horrific shooting’s local roots in racial segregation and disinvestment in poor and working-class black neighborhoods.
Cryptocurrencies like Bitcoin took huge nosedives this week. Unfortunately, we aren’t living through the end of crypto — but hopefully the talk of it being the money of the future that will make us all rich has been shown to be lies.
Our society is deeply invested in a rosy version of romance while offering little support for families to survive the challenges of marriage and child-rearing. We can’t survive those challenges without honest narratives about the maddening realities of love.
A left economic agenda must push back against the inflation panic to demand higher wages and increased social spending — while guarding against real inflation threats through targeted price controls and other policies that protect working people’s pockets.
New York congressman Jamaal Bowman has made a number of wrong decisions on Israel-Palestine. But socialists should criticize those errors without driving him away from the Palestine liberation movement and the Left.
It’s still difficult organizing as a socialist in the United States. But in the last decade since Occupy Wall Street, there are signs more people are open to egalitarian politics.
Two people have died at Rikers Island in the past week, bringing the total to 12 this year. We spoke with socialist assemblywoman Phara Souffrant Forrest, who just visited Rikers Island, about the unconscionable conditions and why we must close the prison facility once and for all.
Buffalo mayor Byron Brown lost the Democratic Party primary against socialist India Walton. Now he’s elbowed his way back on the ballot for the general election. In an interview with Jacobin, Walton argues that Brown’s defense of the status quo will lose to her vision of democratic socialism.
Andrew Cuomo is on his way out. Socialist New York assemblyman Zohran Mamdani talks about Cuomo’s history of bullying and blocking progressive bills, the role of the Democratic Socialists of America in Cuomo’s ouster, and new opportunities for left policy in New York.
While millions of Americans worked remotely during the COVID pandemic, millions more either showed up to a deadly job site or were thrown into unemployment. What will the recovery be like for them?
American liberalism has long had a curious quirk: that of the liberal who is progressive on every issue except Palestine. But as the brutality of Israel’s occupation becomes impossible to ignore, that position is increasingly impossible to hold.
The New York City primaries have been a mess, with delayed results, botched results, and everything in between. But we do know one thing for sure: the question isn’t whether socialists will win any seats, but how many.
Yet again, both Republican and Democratic party leaders are attacking Rep. Ilhan Omar for telling the truth about American and Israeli war crimes. And yet again, Omar has nothing to apologize for.