Of the 1%, by the 1%, for the 1%
Pulitzer Prize winning economist Joseph Stiglitz weighs in on the prevalent concentration of wealth and power in the America, in a Vanity Fair article. Convincingly, he points out that the other 99% of Americans have suffered reduced income and living standards while the super-rich continue to consolidate wealth and power. In terms of income inequality the US now lags well behind Europe and more closely resembles countries like Russia and Iran. Stiglitz also debunks the "marginal-productivity theory" often used by economists to explain vast disparities in income in western societies.
http://www.vanityfair.com/society/features/2011/05/top-one-percent-201105?currentPage=all&wpisrc=nl_wonk
HOW DOES THIS STORY EVER GET TO MAINSTREAM MEDIA. I'm going to shop it around on a 420 Facebook post using most of the first 4 lines. IF WE DO NOT SPEAK IN NUMBERS NEVER KNOWN, THIS PUPPET DEMOCRACY WILL BE A Banana Republic in a Generation.
ReplyDeleteCongratulations! Your comment is the first ever posted on Ransacked Nation. And thanks for reposting the story through FB and trying to get the word out. We all need to know and talk about this stuff to people all the time if there is any hope to change things. It's incredible how ill-informed most of the public is...
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