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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe 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-societyRunaway 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 faultwe'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.
SamKnause
(13,108 posts)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.
heaven05
(18,124 posts)very, very true
valerief
(53,235 posts)And they're getting it.
newfie11
(8,159 posts)JEFF9K
(1,935 posts)CanonRay
(14,108 posts)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)"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.
DeSwiss
(27,137 posts)colsohlibgal
(5,275 posts)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)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)Instead of reinvesting in training and jobs companies are reinvesting in driving up short term gain.
The 99.99% are screwed.
Scuba
(53,475 posts)PatrickforO
(14,584 posts)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)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.