A row of wood frame houses in an African American neighborhood of Birmingham, Alabama, in 1963. (Credit: Marion S. Trikosko, Library of Congress)

Discourse on Race and Inequality in the United States

We must understand America's history of inequality to confront the racial wealth gap.

I’m a Depression Historian. The GOP Tax Bill is Straight Out of 1929.

Republicans are again sprinting toward an economic cliff.

For Republicans, an Unpopular Tax Cut May Be Better Than Nothing – But Still Not Enough

In 1948, the GOP passed the third biggest tax cut in U.S. history. In the next election, they learned the devil is in the details.

Rosie the Riveters Discovered a Wartime California Dream

Following wartime opportunities west, seven million “Rosie the Riveters” found more than just jobs when they reached California.

America’s Real Estate Developer in Chief

Donald Trump's rise to power was fueled by the profits of predatory real estate ventures.

The Massacre That Spelled the End of Unionized Farm Labor in the South for Decades

In 1887, African-American cane workers in Louisiana attempted to organize—and many paid with their lives.
Barack Obama and Shinzo Abe at the Lincoln Memorial.

Technocratic Vistas: The Long Con of Neoliberalism

How "liberal democracy" emerged from the wreckage of World War II and became the dominant ideology of our times.
A line of prisoners picking cotton in Huntsville, Texas.

The Oil Boom’s Roots in East Texas Cotton Farming

Oil’s rise was as dependent on the old as much as the new. The industry also benefited from changes in agriculture.
Caricature of Mark Twain wearing a barrel with smoke from his pipe making a dollar sign.

Mark Twain’s Get-Rich-Quick Schemes

“I am frightened by the proportions of my prosperity,” Twain said. “It seems to me that whatever I touch turns to gold.”

Art Laffer and the Intellectual Rot of the Republican Party

The godfather of supply-side economics is largely discredited by his peers, but revered by Trump and the GOP.

The Crash of ’87, From the Wall Street Players Who Lived It

An oral history of the biggest one-day stock market drop in history.
Women with field hockey sticks in a physical education class circa 1920.

How the US College Went from Pitiful to Powerful

In its first century the American higher-education system was a messy, disorganised joke. How did it rise to world dominance?
Children playing stick ball in the alley.

How the U.S. Government Locked Black Americans Out of Attaining the American Dream

The wealth gap between white Americans and black Americans is stark.
Roy Moore with a cowboy hat, gun, and microphone, in front of an American flag.
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The Reason Roy Moore Won in Alabama That No One is Talking About

Centuries of economic inequality have left Southern politics ripe for insurgent outsiders.

Marx in the United States

A conversation with the author of a forthcoming book about the twists and turns of Marx's legacy in America.

The Disturbing History of the Suburbs

Redlining: the racist housing policy from the Jim Crow era that still affects us today.
House destroyed by hurricane in Puerto Rico.
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Decisions More Than a Century Ago Explain Why The U.S. Has Failed Puerto Rico in Its Time of Need

Fears about trade prompted the decision to make Puerto Rico a colony.
Buildings destroyed by Hurricane Maria in Puerto Rico.
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Puerto Rico’s Hurricane María Proves Once Again that Natural Disasters Are Never Natural

Today's rhetoric about dependency and disaster relief echoes a conversation from more than a century ago.
Reagan poses for a photo op after with a stack of tax cut legislation in 1981.

I Helped Create the GOP Tax Myth. Trump is Wrong: Tax Cuts Don’t Equal Growth.

The best growth in recent memory came after President Bill Clinton raised taxes in the ’90s.

The Jones Act, the Obscure 1920 Shipping Regulation Strangling Puerto Rico

Protectionism and exploitation at its worst.

Puerto Rico Syllabus

Essential tools for critical thinking about the Puerto Rican debt crisis.

Commercial Surveillance State

Blame the marketers.

How Puerto Rico Recovered Before

The island’s New Deal history offers an alternative to disaster capitalism.
Credit score graph and a stack of coins.
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The Equifax Breach Has Potentially Catastrophic Consequences

Credit reporting companies' immense power and lack of transparency puts consumers at risk.
Drawing of someone holding a photo of a Black family in front of a suburban home, and lighting the photo on fire.

America’s Shameful History of Housing Discrimination

The practice of “redlining” kept people of color from home loans for decades.

The History of Sears Predicts Nearly Everything Amazon Is Doing

100 years ago, a mail-order retail giant moved swiftly into the brick-and-mortar business, changing it forever.

Why Would Anyone In Puerto Rico Want A Hurricane? Because Someone Will Get Rich.

How tax breaks and a quasi-colonial status make the island vulnerable to disasters.
Credit cards

How Credit Reporting Agencies Got Their Power

In an economy based on doing business with strangers, monitoring people's trustworthiness quickly became very profitable.
Hurricane Irma in Miami.
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The Cost of Coastal Capitalism: How Greedy Developers Left Miami Ripe for Destruction

Building on vulnerable coastlines isn't about ignorance or hubris — it's about profit.

Oil Barrels Aren't Real Anymore

Once a cask that held crude, the oil barrel is now mostly an economic concept.