Money for Nothing
Why the modern financial sector is better at extracting rents than funding the future.
19512 Articles by: Karl Leffme
Karl Leffme is a socialist in New York CIty.
Elon’s Slash-and-Burn Operation
DOGE has cut millions of dollars’ worth of grants in every state.
A Socialism That Invents
Why Nordic countries out-innovate the United States.
Making Plagues Investable
The World Bank’s pandemic bonds tried to turn public health crises into speculative opportunities.
State of the Art
At the height of the NFT craze, the cost of some digital art surpassed that of the great masters’.
Attacks on Undocumented Workers Are Attacks on Unions
Contrary to popular belief, many undocumented workers are organized in unions across the US. But ICE’s mass arrests will target these unionized immigrants disproportionately and weaken the hand of labor.
Zohran Mamdani Is Right on Public Safety
In last night’s New York City mayoral debate, socialist candidate Zohran Mamdani warded off attacks about “defunding the police” by articulating a principled and compelling message on public safety.
For All That Is Good About Humankind, Ban Smartphones
Smartphones are making us unhealthy, miserable, antisocial, and less free. If we can’t yet nationalize the attention economy, maybe it’s time to abolish its primary tool — before it finishes abolishing us.
The Danish Government’s Awful Stance on Gaza
Some European leaders have started to rhetorically distance themselves from Israel — but Denmark’s government hasn’t even gone that far. For all its boasting about its role championing human rights, it turns a blind eye toward Israeli crimes.
Designing a Wealth Tax for Today’s Robber Barons
A proposed wealth tax on Canada’s richest 0.6% could raise hundreds of billions of dollars — enough to tackle housing, transit, and care. The sheer scale of what a tiny slice of billionaire wealth could fund is staggering.
How the First Black Bank Was Looted
In the early days of the Gilded Age’s rush for profit, freed people’s savings were siphoned off by politically connected financiers. Justene Hill Edwards’s Savings and Trust uncovers how finance cloaked dispossession in the language of uplift.
Florida’s New Investment: Israel’s War
New legislation in Florida introduces a financial model that would enable local governments around the country to invest virtually limitless sums in the Israeli war effort, despite the mounting financial risk of doing so.
Zohran Mamdani’s Messaging Machine Is a Model to Emulate
New York City socialist mayoral candidate Zohran Mamdani has clearly learned from other effective communicators like Bernie Sanders how to use online media to spread popular left-wing ideas. Mamdani’s approach is a model for other insurgent candidates.
“This Fight Is Ours, but It Belongs to Everyone”
SEIU leader David Huerta’s arrest sparked the recent anti-ICE protest wave. Unions like his could tip the scales to win its demand: End the raids now.
Veterans Are Ramping Up Protests Against VA Cuts
The Trump administration wants to cut more than 80,000 VA jobs this year and further privatize veterans’ health care. Last week’s D-Day anniversary saw the biggest veteran mobilizations yet against Trump’s cuts to veterans’ benefits.
Andrew Cuomo Wants to Get Away With All of It
At the heart of Andrew Cuomo’s mayoral run is the firm belief that none of the terrible things he’s done to the people whose votes he’s competing for will matter. Here’s a reminder of a few of the biggest scandals on that long list.
Democrats Are Throwing In the Towel on Rural America
Since 2016, Democrats have operationally withdrawn from rural America. No party can win nationally without rural voters, and progressive economics have plenty to offer, if only the party would embrace them.
The Biggest Recent Union Wins Were in Art and Bacon
The labor movement improves lives for all kinds of workers, and the two largest National Labor Relations Board elections of the month of May were at two very different workplaces: the School of Visual Arts in New York City, and Dold Foods in Wichita, Kansas.