Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

xchrom

(108,903 posts)
Sat Nov 22, 2014, 08:31 AM Nov 2014

The Driving Force Behind America's Warp Speed Decline into an Unequal Society

http://www.alternet.org/economy/driving-force-behind-americas-warp-speed-decline-unequal-society


Runaway inequality is destroying the American Dream. Is it too late to save it?

That depends on what is really driving inequality. In the 1960s the gap between CEOs and the average worker was 20 to 1. By the 1990s it was nearly 350 to 1. What happened?



More than a few pundits and policy wonks imply it's our own damn fault—we're just not educated enough to compete in the global marketplace. Instead of learning more math and science, we play video games, sext and grow obese. New York Times columnist David Leonhardt provides a more nuanced variation of this theme when he writes that average wages could be boosted by policies to support "stronger schools and colleges to lift the skills of the nation's workforce. Countries that have made more education progress over the last generation have experienced bigger income gains than the United State, and even here the pay gap between college graduates and everyone else has reached a record high."

Progressives, however, usually point to other factors such as our paltry minimum wage, the lack of higher taxes on the rich and the declining power of labor unions. This analysis is behind the recent successful efforts to win state and local minimum wage increases, and stronger union footholds among low-wage workers.

What About Wall Street?

When Occupy Wall Street exploded onto the scene, high finance was nabbed as the primary culprit for rising inequality. But as that movement waned, so did the focus on Wall Street. Even Thomas Piketty's powerful critique of rising inequality ( Capital In the 21st Century) places little emphasis on the role of high finance.
14 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
The Driving Force Behind America's Warp Speed Decline into an Unequal Society (Original Post) xchrom Nov 2014 OP
Americans do not know the definition SamKnause Nov 2014 #1
good one heaven05 Nov 2014 #3
Wrong. The PTB want a socialist government. Corporate socialism only, that is. valerief Nov 2014 #5
Fascism comes to my mind. Nt newfie11 Nov 2014 #6
Reaganomics - gotta love it. Not. JEFF9K Nov 2014 #2
Yes, I believe it is too late to save it CanonRay Nov 2014 #4
"he only way it will change is in the streets." < lol. They are waiting... jtuck004 Nov 2014 #13
''Is it too late to save it?'' DeSwiss Nov 2014 #7
Bingo colsohlibgal Nov 2014 #8
Well, someone made the first move to remove jobs and close university schools of education. ancianita Nov 2014 #9
The tax and trade incentives are completely FUBAR SHRED Nov 2014 #10
This is no accident ... Scuba Nov 2014 #11
Good post, however concerning Piketty... PatrickforO Nov 2014 #12
"we're just not educated enough to compete in the global marketplace" < So the author posits this, q jtuck004 Nov 2014 #14

SamKnause

(13,108 posts)
1. Americans do not know the definition
Sat Nov 22, 2014, 08:51 AM
Nov 2014

of Socialism.

We have a Capitalistic and Socialist government.

The Republicans and many Democratic politicians want to have a solely Capitalistic government.

The powers that be will get their wish.

All branches of government are protecting Wall Street, the big banks, corporations, torturers, war profiteers, and an array of white collar criminals.

Corruption and greed have infested every nook and cranny in the U.S.

valerief

(53,235 posts)
5. Wrong. The PTB want a socialist government. Corporate socialism only, that is.
Sat Nov 22, 2014, 10:13 AM
Nov 2014

And they're getting it.

CanonRay

(14,108 posts)
4. Yes, I believe it is too late to save it
Sat Nov 22, 2014, 10:09 AM
Nov 2014

Citizens United was the final coffin nail. We have no access to the means to change this system peaceably; access had been sold and paid for by the wealthy and corporate interests. The only way it will change is in the streets.

 

jtuck004

(15,882 posts)
13. "he only way it will change is in the streets." < lol. They are waiting...
Sun Nov 23, 2014, 07:14 PM
Nov 2014

"The time to make money is when blood is running in the streets."

Lot's of really wealthy people (the kind that make $500,000 a minute) clamor to be the one that saying is attributed to, because it is one of the true constants throughout their career.

colsohlibgal

(5,275 posts)
8. Bingo
Sat Nov 22, 2014, 11:08 AM
Nov 2014

I always hear wing nuts blaming welfare cheats and moochers, but never obscene CEO pay, which they are enabling. And welfare cheating is a drop in the bucket compared to the rich getting richer Part of this is the point Bill Maher made again last night, that a huge chunk of the people in the US are fairly ignorant. Only 42% can name all three branches of government. 20 something per cent can't even name one branch. Not shocking for anyone who remembers Jay Leno's "Jaywalking" bit he did.

Fox News has to share the blame for this, passing lies and innuendo off as truth and fair and balanced.

We need a critical mass of people to figure out the big con that's going on.

ancianita

(36,111 posts)
9. Well, someone made the first move to remove jobs and close university schools of education.
Sat Nov 22, 2014, 11:22 AM
Nov 2014

Someone started to undercut economic and education opportunity. Someones across the corporate and university worlds joined them.

The downward spiral of inequality -- the slow sucking sound of job loss, union destruction, skyrocketing pricing of higher education -- didn't become apparent for at least a decade, what with the louder media distractions of wars, the "War on X," social scapegoating and political scandal mongering during those decades.

But some ONE did start it. A group supported that someone.

There is no collective "we" to blame for it. Americans didn't just walk away from jobs and education.

 

SHRED

(28,136 posts)
10. The tax and trade incentives are completely FUBAR
Sat Nov 22, 2014, 11:22 AM
Nov 2014

Instead of reinvesting in training and jobs companies are reinvesting in driving up short term gain.

The 99.99% are screwed.

PatrickforO

(14,584 posts)
12. Good post, however concerning Piketty...
Sat Nov 22, 2014, 12:36 PM
Nov 2014

He did say in his book that as long as it was possible to make more money by investing in equities than you can make producing things, inequality of wealth will continue to grow. He also said that now that it was harder for people to become wealthy through their own labor, old wealth would take on more meaning and families that are rich now would over generations become a new aristocracy.

 

jtuck004

(15,882 posts)
14. "we're just not educated enough to compete in the global marketplace" < So the author posits this, q
Sun Nov 23, 2014, 07:22 PM
Nov 2014

then discounts it, and says, basically, the financial sector knows all these ways of screwing people and the people don't, or aren't trained enough to recognize how they are being used?

Problem is, even if you re-instate the financial regulations the author mentions, and bring us back to 1980, that leaves untouched all the education, building, and growth which we lost during those 34 years.

To rebuild all that would take $40-50 trillion - over and above the changes mentioned - and about 25 years to even get us close to where we should be today, and that isn't gonna happen.

And even if it did, too many things have been permanently lost, along with many lives that have been used up and thrown away during that time.

And if we don't, the hundred million we now have in poverty and near poverty will be joined by scores of millions of others over the next few years, the legacy of this experiment in democracy.

Latest Discussions»General Discussion»The Driving Force Behind ...