Author: Citizen Truth

Housing experts and economists are warning of a looming housing “apocalypse” as eviction bans and unemployment benefits put in place at the start of the pandemic expire, prompting housing advocates to call for aggressive government intervention to prevent millions of households from eviction in the midst of civil unrest and a global pandemic. Almost a third of U.S. households missed their housing payments this month. Renters, who are more likely to work in industries hard-hit by the the pandemic, are especially vulnerable; according to a study by the Covid-19 Eviction Defense Project, 20 percent of the 110 million Americans...

A cornerstone of orthodox economics is the idea that capitalists’ decisions about investing and producing are inherently “efficient.” This means that capitalists select among all alternative courses of action those whose costs are minimal and whose benefits are maximal. Keeping costs to the lowest possible level while producing goods and services that yield the most possible revenue is what maximizes profit, the difference between costs and revenues. Capitalism, we are told, is the best system because it drives all those in charge of production (the owners and top executives of enterprises) to maximize profits and thus economic efficiency. Capitalists...