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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

Falling Dollar, Rising Debt

Jeff FauxJul 18, 2002

The value of the U.S. dollar has dropped more than 15 percent against the euro since February. That may not sound like a big deal -- a bit of bad news for American tourists this summer, a bit of good news for American manufacturers selling things abroad. But, in fact, it could be a sign that America's mounting foreign debt is about to deal a major blow to an economy already reeling from the shock of the dot-com meltdown and the crisis of U.S. corporate credibility.

Who Gets to Retire?

Jeff FauxMay 30, 2002

On the day television beamed around the world images of
tearful Enron employees stunned at the looting of their 401(k)s by the company's
top brass, pension reform became a top congressional priority. As the scandal
rippled across corporate America, even George W. Bush could sense the smoldering
class resentment. "What's fair on the top floor should be fair on the shop floor,"
he proclaimed, distancing himself from his old pals at Enron's Houston
headquarters.

Securing Pensions I

Jeff FauxMar 06, 2002

The Enron scandal seems like a heaven-sent opportunity to reform the
business excesses of our recent Gilded Age. But the fetish of markets retains a
powerful grip on the American political psyche. Already, corporate lobbyists,
elevating stock-market gambling to the level of a fundamental human right, are
undercutting modest efforts to prevent future abuses of 401(k) pension
plans--which for most Americans is the heart of the Enron matter.

Bait and Switch:

Jeff FauxFeb 08, 2002

There is a moment in every
successful con game when the victim thinks that he or she
has gotten the better of the deal. Thus, going into the 2000
elections, Democrats congratulated themselves on having
become the party of fiscal responsibility. Urged on by
Federal Reserve Chairman Alan Greenspan, Bill Clinton had
made eliminating the national debt more important than
expanding investment in health, education, and other social
programs. It was a sharp contrast to the preceding
Reagan-Bush years of irresponsible tax cuts and profligate
military spending. With the surplus predicted to rise for a
decade, the Clinton White House had become, as Washington

A Deal Built on Sand

Jeff FauxJan 04, 2002

Pulled along by the war on terrorism, the
multinational corporate campaign
to deregulate the global economy seems back on course--at least for the moment.
By shrewdly buying votes and appealing to patriotism, the Bush administration
engineered the jump start of a stalled new round of trade talks at the World
Trade Organization in mid-November. Three weeks later, the White House squeaked
through to a one-vote victory in the House of Representatives to put trade deals
on a legislative "fast track." Unfortunately, the result of both events will be
to bury the real issue: competent and accountable governance of the global
marketplace.

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