Sunday, Oct 04th

Last update07:37:42 PM GMT

You are here News Economy Why Aren’t More Americans Fired Up About Inequality?

Why Aren’t More Americans Fired Up About Inequality?

E-mail Print PDF

Inequity in the USWith news of record corporate profits and increased bonuses for those at the top of the financial heap — and on-going income stagnation, job loss, and rising poverty for those in the middle and bottom of the ladder—it’s maddening for progressives to hear our political elites continuing to promote austerity as a means for growth.

Just a year and half ago, Occupy Wall Street was all anyone could talk about.  President Obama won a historic second term running on these themes and announced a new era of liberal governance in his recent Inaugural address.  Yet, even with strong evidence out of Europe that austerity is failing, and public opinion polls in the U.S. showing clear opposition to rising inequality, the political class in Washington is collectively trying to convince itself that America can cut its way to prosperity and economic opportunity for the middle class.

What happened?  And why aren’t we seeing more social protests against an economic and political order that sanctions these outcomes?

There are many culprits in this development, chief of which is the intersection of libertarian economic theory with control of one political party that has strong minority voting power in our constitutional system.  The long term decline of the labor movement and the corporate ownership of media provide additional institutional explanations for why there is not more pushback.

But a more painful explanation might be closer to home.


Most Recent Related Stories...

Oil and gas boomtown gone bust: Gonzales tries to cope

boomtown gone badOnly a year ago, with oil trading near $100 a barrel, residents of this proud and...

GE to move turbine jobs to Europe, China due to EXIM bank closure

GE sends jobs to Europe, ChinaGeneral Electric Co (GE.N) said on Tuesday it will move 500 U.S. power turbine manufacturing jobs...

Major banks investigated for collusion in precious metals market

Banks investigated for precious metalsThe Swiss competition watchdog has launched an investigation into possible collusion in the precious metals market...

Was Tom Hayes Running the Biggest Financial Conspiracy in History?

Tom HayesHayes was a phenom at UBS, one of the best the bank had at trading derivatives....
America's # 1 Enemy
Tee Shirt
& Help Support!
TVNL Tee Shirt
Conserve our Planet
& Help Support!
Get your 9/11 & Media
Deception Dollars
& Help Support!
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!