Hitting the mark: “Grand Theft Capital”, by Fred Magdoff and John Bellamy Foster
November 2, 2026
The latest, in The Guardian (and read on for the Adam Smith Institute's miffed response): "As the radical economists Fred Magdoff and John Bellamy Foster show in their new book, Grand Theft Capital: What Workers Should Know About the Affordability Crisis, the share of national income going to ordinary workers has slumped from 30% in the 1960s to 20% today. This is the destruction of working-class lives and dreams in which Republicans and Democrats colluded. This is the American carnage that in 2016 helped propel Trump into the White House."