Sarah Anderson

Sarah Anderson

Sarah Anderson directs the Global Economy Project of the Institute for Policy Studies, and is a co-editor of Inequality.org. @Anderson_IPS

Articles by this author

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Monday, June 22, 2009
People Power Pushed the New Deal
During the Great Depression, my grandfather ran a butter creamery in rural Minnesota. Growing up, I heard how a group of farmers stormed in one day and threatened to burn the place down if he didn’t stop production. I had no idea who those farmers were or why they had done that—it was just a colorful story.
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Tuesday, April 14, 2009
Why Not Send My Tax Check Directly to Wall Street Execs?
My husband and I just made out a check to the IRS for $5,021. It's more than usual because of solid investment returns in his native Canada, where their quaintly regulated banking system continues to hum along. Normally, though, we don't mind paying our tax bill. We believe that strategic government investment is the way out of this crisis, and we're happy to contribute our fair share. But this year I cringed as I dropped that check in the mail, thinking about how I might as well have just handed it directly to a Wall Street executive.
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Tuesday, March 31, 2009
Why It’s in Our Interest to Support a Global Stimulus
Get ready for the boomerang effect. The economic crisis that originated in this country has spread to the farthest corners of the planet. Global poverty is expected to jump by 53 million people and another 51 million workers will join the ranks of the jobless this year.
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Monday, November 24, 2008
Bailouts Dwarf Spending on Climate and Poverty Crises
The financial crisis is only one of multiple crises that will affect every country, rich and poor alike. There's also the global poverty crisis. Tens of millions of people across the developing world are expected to fall into extreme poverty and joblessness as a result of an economic mess originating in the United States. This is bad news for workers everywhere, as it means even more brutal competition in the globalized labor pool. And then there's the climate crisis. If we don't do something about that one, we could find out what a real meltdown feels like.
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Tuesday, October 21, 2008
Rewrite Bailout Rules on CEO Pay
Treasury Secretary Henry Paulson has executed two fairly slick about-faces since Congress passed the $700 billion Wall Street bailout two weeks ago. The first makes eminent sense. The second should outrage you. Let's start with Paulson's positive turn. His original bailout plan would have had the Treasury rush to spend billions buying up toxic mortgage-backed securities. His new plan instead will spend the bailout's first $250 billion buying up part-ownership in America's biggest banks.
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Tuesday, September 23, 2008
The Bailout and CEO Pay: What's 'Excessive'?
Everyone knew this bailout was going to be big. Now the bailout has become even bigger. Treasury Secretary Henry Paulson is not just talking about bailing out mortgage lenders and traders any more. The federal government, Paulson now envisions, will be buying up all sorts of troubled investments. Even foreign banks will be able to get in on the bailout action. Meanwhile, a host of power-suited vultures are hovering overhead, anxiously awaiting federal contracts to manage -- for a handsome fee, of course -- all the bad debts the Treasury starts buying.
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Monday, September 01, 2008
Workers Need Added Clout To Close The Pay Gap with CEOs
Polls show that most Americans are outraged by sky- high CEO pay. And why shouldn't they be? A generation ago, top CEOs made 30 to 40 times the pay of average workers. Last year, CEO pay outpaced average worker pay by 344 times. In effect, the gap between worker and executive pay has multiplied an amazing tenfold since the early 1980s. How could that be? Are executives working 10 times harder than they did three decades ago? Are they 10 times smarter? Of course not. Not one iota of evidence supports that notion.
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Friday, November 16, 2007
Wal-Mart's New Greenwashing Report
Two years ago, Wal-Mart CEO H. Lee Scott announced a bold initiative to turn the world's largest corporation green. After numerous delays, the company has finally released a first progress report. So how much greener are they? To find out, you first need to wade through 40 pages of data on other various and sundry issues. For example, the report boasts that company employees enrolled in a Personal Sustainability Project lost a combined total of 184,315 pounds in 2006 (1.3 pounds per enrollee).
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Thursday, May 31, 2007
Mr. Hardball Goes to the World Bank
Nine days after the September 11 terrorist attacks, I opened up The Washington Post and stared right into the flinty mind of one Robert B. Zoellick, the Bush administration's pick for new World Bank president. While the rest of the country was still in a haze of horror and confusion, Zoellick had seized the moment to advance his agenda as U.S. trade representative. In a commentary titled "Fighting Terror with Trade," he argued that Congress needed to pass fast track trade negotiating authority as part of their support for the "War on Terror."
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