Robert Reich: The “self-made” man or woman, the symbol of American meritocracy, is disappearing. Six of today’s ten wealthiest Americans are heirs to prominent fortunes.
This week, an article by Mark Naison, “How Attacks on Teachers and Government Workers Will Impact All Our Lives,” drew the following exchange between Ryder and Steve Wider.
David Kristjanson-Gural: Excluding people from having a say over what happens to the wealth we create is the first and the most fundamental way that any capitalist system undermines democracy. We are fundamentally disenfranchised in the places we work.
Friday Feedback: This week, John comments on “Real Social Security: A Just Distribution of Wealth” by Charles Hayes.
Mark Dempsey: Besides the history of local development, recent lapses by our politicians, who regularly bow to speculation and greed, don’t exactly inspire confidence. Wall Street speculators absconded with 40% of the world’s wealth, and only Bernie Madoff is in jail.
Robert Reich: As long as Democrats refuse to talk about the almost unprecedented buildup of income, wealth, and power at the top – and the refusal of the super-rich to pay their fair share of the nation’s bills – Republicans will convince people it’s all about government and unions.
David Barber: What I do know is that while “social psychology” may have had some small role as a causal factor in the Crash of ’08, it was the actual structure of the American and world economies which brought on the crisis. And if in fact we enter a second round of this Crash, it will not stem from what Dr. Shiller calls a “weakness and vulnerability of confidence,” but will result from the same structural elements of our economy as those that brought on the “first dip.”
Unemployment reached 8.5% in March of this year, but add in the once full-time, now part-time laborers, it may be as high as 15%. Yet my fellow rail commuters somewhere between New Haven and Grand Central Terminal think they smell recovery. As one salesman put it to me, “things will come back–even better than they […]