Lynn Parramore is Senior Research Analyst at the Institute for New Economic Thinking. A cultural theorist who studies the intersection of culture and economics, she is Contributing Editor at AlterNet, where she received the Bill Moyers/Schumann Foundation fellowship in journalism for 2012. She is also a frequent contributor to Reuters, Al Jazeera, Salon, Huffington Post, and other outlets. Her first book of cultural history, Reading the Sphinx (Palgrave Macmillan) was named a “Notable Scholarly Book for 2008” by the Chronicle of Higher Education. A web entrepreneur, Parramore is co-founder of the Next New Deal (formerly New Deal 2.0) blog of the Roosevelt Institute, where she served as media fellow from 2009-2011, and she is also co-founder of Recessionwire.com, and founding editor of IgoUgo.com. Parramore received her doctorate from New York University in 2007. She has taught writing and semiotics at NYU and has collaborated with some of the country’s leading economists her ebooks, including “Corporations for the 99%” with William Lazonick and “New Economic Visions” with Gar Alperovitz. In 2011, she co-edited a key documentary book on the Occupy movement: The 99%: How the Occupy Movement is Changing America.
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Economist Darrick Hamilton, co-author of a new report on wealth across racial and ethnic groups in Tulsa, Oklahoma, explores the legacy of the Tulsa Race Massacre with the Institute for New Economic Thinking’s Lynn Parramore.
Canadian economist Mario Seccareccia, recipient of this year’s John Kenneth Galbraith Prize in Economics, says it’s time to reconsider the idea of full employment. He spoke to Lynn Parramore of the Institute for New Economic Thinking about why 2021 offers a rare opportunity to rebalance the economy in favor of Main Street.
The plight of white blue-collar workers is well-known, but Blacks in that category were feeling the squeeze long before their white counterparts.
In 1898, upwardly mobile Blacks in Wilmington, NC were terrorized and slaughtered in a violent insurrection that set the stage for Jim Crow – and the next 123 years. Hardly anyone really knows about it.
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“It’s interesting he [Josephus Daniels] may not have been the most die-hard racist, but he just saw that racism is how you win elections. I think we see echoes of that today. I think it’s also notable to recall that this is the only successful insurrection on U.S soil in U.S history. People started finding out a little bit about it when the capital siege occurred because people started asking, “has an insurrection ever happened?” Actually the answer is yes, and it would be Wilmington. It’s the only time this has ever happened to a municipal government and it was the state that allowed this to happen, allowed these militias to run amok. It was the state that was really responsible at the end of the day for this violence. And there have never been any reparations of any kind even though there are people living in Wilmington today who can who can say, “my ancestor owned this plot of land that was taken.” They’ve never had any reparations. If it was a white person that could prove that, I think we would be talking about justice. But it mirrors the Tulsa situation, it was the success of black people that was the problem. Not this idea of inferiority which had been the racial mythology. it was actually the fact that black people had persevered and were very successful even in the face of all of this oppression.” ….It’s just happened time and time again in Wilmington, Tulsa, Detroit, elsewhere, that the American dream has just been incredibly elusive for black Americans through absolutely no fault of their own. What I think is pretty clearly structural racism.”— Lynn Parramore
“Just now read this fascinating interview by Janine Jackson of fair.org (Fairness & Accuracy In Reporting) with Lynn Parramore of the Institute for New Economic Thinking on how hedge fund managers are damaging American companies by pushing company managements to do stock buybacks. Basically, stock buybacks force up the price of a stock, allowing shareholders to make megabucks when they sell. Such buybacks were difficult until the Reagan administration loosened the regulations in 1982. Why are stock buybacks bad ? Because they divert money from research, from new investments and innovation, and from raising wages. The interview with Lynn Parramore goes into the details.” — Daily Kos
Lynn Parramore appeared on CounterSpin to discuss her INET article on hedge fund’s blocking green initiatives
“Polluting companies tell us every day how they’re invested in the future; we’ve heard corporations en masse say, “Profits, what? We’re all about the people now!” There’s a certain amount of people-who-make-the-problem-pretending-they’re-the-solution that we can see through, but there’s still plenty going on behind the scenes. We’ll talk with Lynn Parramore, senior research analyst at the Institute for New Economic Thinking, about how hedge funds get in the way of the big changes all kinds of companies need to make to fight climate disruption.” — CounterSpin
Lynn Parramore appeared on Between the Lines to discuss the “New Koch Brothers” and stock buybacks are sabotaging America’s green new deal
“So these companies have been hamstrung by these hedge fund activists that are only interested in making a buck as quickly as possible. And they really don’t care about the long-term sustainability or health of the company. Or is it anything the company might want to do in the way of making products in the future? They’re all about the short term. So they are holding American companies back.” — Lynn Parramore