Category Economic Inequality

The prime oligarch

Freedom Rider: Oligarch Jeff Bezos Margaret Kimberle   Amazon CEO Jeff Bezos has a net worth of $105 billion and is the richest man in the world. But he is not just the richest man at this moment in history. He is the richest person who has ever lived. As of 2017 he and seven […]

The 1% Will Earn the People’s Hatred

The 1% Will Earn the People’s Hatred Glen Ford   Senate Republicans passed a tax bill that House Democratic leader Nancy Pelosi described as “simply theft — monumental, brazen theft from the American middle class and from every person who aspires to reach it.” The measure fulfills every corporate wish list compiled in the 30 […]

Well, isn’t that what Reaganomics was designed to do?

Washington Post – Back in 1980, the bottom 50 percent of wage-earners in the United States earned about 21 percent of all income in the country — nearly twice as much as the share of income (11 percent) earned by the top 1 percent of Americans.But today, according to a massive new study on global… via […]

The Political Economy of Obama/Trump

The Political Economy of Obama/Trump by Richard D. Wolff US capitalism is again careening down blind alleys. Earlier it had crashed into the Great Depression from 1929 to 1933 before lurching into the New Deal. After 1945 it concentrated on rolling back the New Deal until it turned sharply to neoliberalism and “globalism” in the […]

America is Regressing into a Developing Nation for Most People — OffGuardian

by Lynn Parramore, April 20, 2017, via Institute for New Economic Thinking A new book by economist Peter Temin finds that the U.S. is no longer one country, but dividing into two separate economic and political worlds You’ve probably heard the news that the celebrated post-WW II beating heart of America known as the middle […] […]

Respectable Negroes and Racialized Society

America’s “Good” Black Syndrome: Race, Class, and Somebody-ness by PAUL STREET “The United States,” the left historian Lawrence Shoup reminds us, “is a particular type of class society, a racialized one, where some groups are stigmatized as inferior because of their race, a belief spreading to all segments of society. One this oppressive idea becomes […]

Wealth Inequality in America