Tuesday, June 12, 2007

Read Ehrenreich's Article

Her article in The Nation is a fun read as well as an important one. Her point in a nutshell is that the staggeringly vast inequality of America's economy is bad for our economy and our society.

Its no surprise that the ridiculous class differences in the US are bad for democracy, but Ehrenreich also points out that it is bad for the economy too. We talk about sustainability a lot these days, (see Fora.tv for more on this topic) and an economy that concentrates wealth and power in an increasingly small group at an accelerating rate is not a sustainable economy.

My favorite quote from the article: "As the Times puts it: "It's as if every household in that bottom 80 percent is writing a check for $7,000 every year and sending it to the top 1 percent."

But what to do about it? Is it enough to just increase taxes on the wealthiest Americans? There are plenty or corporate jobs that people just wouldn't do if they couldn't make scads of money doing it...is that a good thing or a bad thing?
Are there other strategies that should be used instead/as well? Could there be changes to legal codes governing corporations?

The article is a good read, and a good thought-provoker, too.

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