Ordinary Iranians: The Silent Victims of the Iran Sanctions

August 3, 2012 by

While the United States and the European Union compete with each other in the seemingly endless race of imposing sanctions on Iran, ordinary Iranian citizens are experiencing the brunt of these crippling embargoes. On July 31, the American Israel Public Affairs Committee (AIPAC) sent a letter to all members of the U.S. Congress, demanding a concerted action to approve the Iran Threat Reduction and Syria Human Rights Act, which would impose a new set of sanctions on Iran’s energy and transportation sector.

Financial Predators v. Labor, Industry and Democracy

August 3, 2012 by

The Eurozone lacks a central bank to do what most central banks are supposed to do: finance government deficits. To make matters worse, the Lisbon Agreement limits these deficits to 3% – too small to pull economies out of depression by offsetting private-sector debt deflation. Even if central banks could monetize higher levels of deficit spending, there are good reasons not to subsidize unfair tax systems and tax cuts on the real estate and financial “free lunch” windfalls that classical economists urged to be the tax base. Under classical tax policy, Europe would not have had a land-price bubble in the first place.