Income Inequality + The Age Of Inequality
First program: Income Inequality
Income inequality has soared to the highest levels since the Great Depression. And the Great Recession has done little to reverse the trend. In the first full year of the so-called recovery, the top 1 percent of earners took 93 percent of the income gains. The IMF warns, “Some dismiss inequality and focus instead on overall growth, arguing, in effect, that a rising tide lifts all boats. When a handful of yachts become ocean liners while the rest remain lowly canoes, something is seriously amiss.” Joseph Stiglitz, a Nobel laureate in economics says, “What worries me is the idea that we’re in a vicious cycle. Increasing inequality means a weaker economy, which means increasing inequality, which means a weaker economy.” Certainly the Occupy Movement raised consciousness about this issue. But the political class has done little to address it. What can be done?
Second program: The Age of Inequality
Trickle-down neo-liberal economics has not worked. Well, not exactly. It’s worked beautifully for the rich. U.S. income inequality has returned to levels not seen since the 1920s. The top 1% rakes in one-fourth of the national income and has assets equivalent to half the national wealth. The Age of Inequality began in earnest more than 30 years ago. Wages, which had been constantly rising, flattened out. Families got hooked on the new money: credit cards. Debt skyrocketed. Workers took second jobs to make ends meet. The huge transfer of wealth upwards was accompanied by attacks on unions. Recall Reagan’s first action was to break a union. Then corporations started outsourcing, moving high paying jobs overseas. Throw in tax cuts and subsidies and you have a poisonous economic cocktail for the average worker. Inequality poses serious questions about the nature of democracy, fairness and economic justice.
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Kicking People When They're Down
The rise in New York’s poverty rate as a result of the ongoing recession has pushed nearly half of the city’s population into the ranks of the poor or near-poor....
David Cay Johnston
The Societal Impact of Inequality
The U.S. has the dubious distinction of being the most unequal of all developed countries. The gaps between rich and poor have not been seen since the Gilded Age over...
The Age of Inequality
Trickle-down neo-liberal economics has not worked. Well, not exactly. It’s worked beautifully for the rich. U.S. income inequality has returned to levels not seen since the 1920s. The top 1%...
Income inequality has soared to the highest levels since the Great Depression. And the Great Recession has done little to reverse the trend. In the first full year of the...
3 CDs Barbara Ehrenreich - Kicking People When They're Down The rise in New York’s poverty rate as a result of the ongoing recession has pushed nearly half of the...
Class War: The Attack on Working People
The notion of class is usually associated with England. The term is rarely applied to the U.S., where traditional lore has one big middle class with a few rich and...
Health Care Inequalities
First program: In Sickness & in Wealth Income and wealth inequalities have huge health impacts. What are the health advantages of being rich as compared to being poor? You’ll live...
Democratic Values and Economic Inequality
Just when you thought the huge gap between rich and poor could grow no wider, the latest numbers come in. The average CEO now makes 326 times the salary of...
Solidarity: An Injury To One Is An Injury To All...
Andrew Carnegie, nineteenth-century financier and steel magnet, once said, "The greatest discovery of my life is that the men who do the work never get rich." Carnegie knew what he...
Worker Solidarity & Human Rights
An injury to one is an injury to all has long rallied workers. It's not merely a slogan but a basis for organizing and action. When workers are being denied...
In Defense of Government
George Bush likes to talk about an ownership society in the United States, a place where more people own property, businesses and shares of stock. The president says we can...