Tag Archives: inequality

Class War with a Smiley Face

Class War with a Smiley Face
Therborn’s analysis is that, due to the decline of the industrial working class, labor unions are no longer well positioned to take a central role in these struggles. Hayes’s argument is that, while it is often very difficult to persuade poor and working class people that they are entitled to anything better, ... Read more

Why Inequality Matters and What Can Be Done About It

Why Inequality Matters and What Can Be Done About It
In the past, when our country reached these extremes of inequality, at the end of the 19th century, in the gilded age, or in the Roaring 20s, it pulled back from the brink. It enacted policies and programs that provided hope that the American dream could return to being a reality. We are now ... Read more

Money, Money, Everywhere

Money, Money, Everywhere
A Tale of Two Cities , the novel by Charles Dickens, begins with the famous words, “It was the best of times, it was the worst of times.” In America today, it is the best of times for multinational corporations and their CEOs. But for ordinary people, it’s pretty bad, and getting worse. For non-corporeal entities, times ... Read more

The End of Jobs?

The End of Jobs?
The subject of a universal basic income is coming up a lot these days; former Labor Secretary Robert Reich endorsed it last week in a talk at San Francisco State University, calling it “almost inevitable” in the face of technologically-induced job loss. A basic income would serve as something more than a safety net in troubled ... Read more

The Top of the World

The Top of the World
The core message of this enormous and enormously important book can be delivered in a few lines: Left to its own devices, wealth inevitably tends to concentrate in capitalist economies. There is no “natural” mechanism inherent in the structure of such economies for inhibiting, much less reversing, that tendency. Only ... Read more

Wall Street Bonuses and the Minimum Wage

Wall Street Bonuses and the Minimum Wage
Wall Street banks handed out $26.7 billion in bonuses to their 165,200 employees last year. That amount would be enough to more than double the pay for all 1,085,000 Americans who work full-time at the current federal minimum wage of $7.25 per hour. Purveyors of luxury goods always welcome the Wall ... Read more