Jeff Faux

Jeff Faux is a distinguished fellow at the Economic Policy Institute, which he founded. His latest book, The Servant Economy (Wiley), was published in June 2012.

Recent Articles

Class War: The View From the Board Room

The Vice-President for Governmental Affairs has just finished his report to the corporate board of directors.

“Thanks, Ted,” says the Chairman. “You and your Washington staff have done a great job. Getting that little amendment inserted in the budget bill will save us at least $25 million next year. …. Questions or comments? Paul?”

Paul, the hedge fund CEO: “I’m worried about the big picture down there in Washington, Ted. It’s a mess. Deficit out of control. The anti-business attitude. Not to mention incompetence. Can’t even run a website for their own health care program. Pathetic.”

Larry Summers and the Economists’ “Greed Exception”

AP Images/J. Scott Applewhite

It is said that the late economist Milton Friedman was once asked how much money it would take for him to change his position that humans are primarily motivated by greed, which was at the core of Friedman’s free-market fundamentalism. Friedman wisely dodged the question. He understood that if he said he could not be bought, it would undercut his economic theory. In order to avoid undercutting his theory, he would have had to admit that he, like everyone else, had his price.

Where's the Change?

AP Photo/Lauren Victoria Burke

AP Photo/Alex Brandon, File

Barry Commoner and the Dream of a Liberal Third Party

Obituaries of the environmental populist have dismissed his 1980 presidential run as a quirky personal misadventure. It was more than that.

(Flickr/CHEJ)

Barry Commoner died on September 30 at the age of 95. The New York Times called him “a founder of modern ecology and one of its most provocative thinkers and mobilizers in making environmentalism a people’s cause.” Among many accomplishments, his pioneering work on the effects of radiation was a major factor in building public support for the Nuclear Test Ban Treaty between the United States and the Soviet Union in the middle of the Cold War. Time Magazine put him on its cover in 1970, the first year of Earth Day.

He also ran for president in 1980 on the ticket of the now defunct Citizens Party, an episode few on the left remember and the obituaries dismissed as a quirky personal misadventure. It was more than that. The Citizens Party was an effort to respond to the early signals that the Democratic Party was on the way to becoming morally and intellectually bankrupt. Three decades later, that ugly process is almost complete.

A Tough Choice for Mexico

The country's presidential elections are a referendum on the drug war.

(AP Photo/Marco Ugarte)

It may barely make a blip on our political radar screen, but on July 1 Mexico is slated to elect a new president for the next six years. Plagued by out-of control violence and chronic poverty, the country is in desperate need of new leadership. Yet holding a commanding lead in the polls is Enrique Peña Nieto, an old-guard candidate of the discredited Partido Revolucionario Institutional (PRI), which ran the county as a one-party dictatorship for 70 years before being ousted in 2000.

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