Inequality

Raising Consciousness About The Color Of Law

January 30, 2018 By Steve Early, Portside.org Educate! Inequality, New Economy, Racism

In it, he documents how racial segregation in housing did long-term damage to African-American family wealth, income, job opportunities, and access to good public education. More than sixty years ago, when Ford Motor Company closed its Richmond, CA assembly plant, Frank Stevenson was among 250 African-Americans facing unemployment. Fortunately, his union, the United Auto Workers (UAW), negotiated an agreement with management permitting all 1,400 UAW members in Richmond to transfer, with their seniority rights intact, to a Ford facility in Milpitas, a then-rural suburb of San Jose. With the assistance of federal home mortgage guarantees, low-interest loans, and, for WW II veterans, no down payment, many white UAW members easily took advantage of this deal. They found affordable homes in suburban subdivisions then blossoming in the South Bay.

Janet Yellen Was Great Fed Chair. So Why Is Economy Still Broken?

January 29, 2018 Zach Carter, Huffingtonpost.com Educate! Capitalism, Federal Reserve, Inequality, New Economy

When President Barack Obama reluctantly nominated Janet Yellen to the most powerful economic post on the planet in October 2013, Republican Party leaders, backed by much of the economics establishment, warned of looming economic ruin. As Federal Reserve chair, Yellen would lead the country into a hyperinflation calamity on par with Weimar Germany or, at least, a return to the misery and malaise of the Jimmy Carter years. Senate Majority Leader Mitch McConnell (R-Ky.) said he had “serious concerns” about Yellen’s interest in “maintaining the purchasing power of the dollar.” Sen. John Cornyn (R-Texas) declared Yellen “thought that the best way to handle to our nation’s fiscal challenges is to throw more money at them.” Sen. Richard Shelby (R-Ala.) envisioned“massive price increases on every single product that Americans buy.”

Utopia And The Right To Be Lazy

January 26, 2018 David F. Ruccio, Anticap.wordpress.com Create! Inequality, Labor, Utopia

Students are much too busy to think these days. So, when a junior comes to talk with me about the possibility of my directing their senior thesis, I ask them about their topic—and then their schedule. I explain to them that, if they really want to do a good project, they’re going to have to quit half the things they’re involved in. They look at me as if I’m crazy. “Really?! But I’ve signed up for all these interesting clubs and volunteer projects and intramural sports and. . .” I then patiently explain that, to have the real learning experience of a semester or year of independent study, they need time, a surplus of time. They need to have the extra time in their lives to get lost in the library or to take a break with a friend, to read and to daydream. In other words, they need to have the right to be lazy.

Davos: Inequality Rocks The Magic Mountain

January 25, 2018 By Pepe Escobar, Telesurtv.net Educate! Class Struggle, Inequality, Tax havens, World Economic Forum

A major cause of such inequality is tax havens – which in the current casino atmosphere stand no risk of being regulated. The so-called globalized elites meet at the World Economic Forum in Davos this year under the specter of extreme turbulence. The WEF Global Risks Report is hardly reassuring. The top five most likely risks for 2018 all range from extreme weather/climate change disturbances to cyber-attacks. Yet, according to the report, in terms of impact, they are superseded by weapons of mass destruction – a direct consequence of the Korean peninsula standoff. Global elites are somewhat paralyzed by political inaction facing the most pressing questions of our time, just as the global economy is inundated by liquidity. Quantitative easing was actually the only concrete response to political inaction, adhered to by every Central Bank, from the ECB to the Japanese.

How Can We Bridge The Widening Global Inequality Gap?

January 25, 2018 Winnie Byanyima, Aljazeera.com Strategize! Capitalism, Inequality, World Economic Forum

For the past five years, I have carried Oxfam's call to tackle global inequality to the rich and powerful people attending the World Economic Forum in Davos. I don't sing alone there any more. I'm worried my message is almost mainstream, that I sound like I'm part of the choir. I bet nearly every politician and industry leader I meet in Davos this week will talk the talk about the evils of inequality and be very eloquent and believable, too. I mean, how could they not? The evidence is overwhelming. Surely, no stable genius attending Davos could possibly try to deny, minimise or justify 2018 levels of global inequality? Now that would be a controversial sideshow! Oxfam's report this year is as much about people's stories as it is about inequality's staggering statistics. These are the people around the world losing their lands and livelihoods as fast as ever.

A Powerful Economic Justice Movement Is Brewing

January 23, 2018 By Frances Moore Lappé, Adam Eichen, AlterNet Strategize! Economic Democracy, Economic Justice, Inequality

The only way to create this new story of possibility is through our action, and it’s happening. In this dark time, a vigorous and unprecedented democracy movement is emerging. Led by citizens of all backgrounds—inspiring our new book, Daring Democracy—it is uniting groups long focused on specific issues, from the environment to racial justice to labor, who are now joining forces with veteran democracy-reform groups to tackle big money’s grip on our elections and to ensure voting rights. Step by bold step, citizens joining in this never-more-needed movement are gaining confidence in their capacities to shape an accountable, inclusive democracy in which all voices are heard. Because the democracy movement holds the inherent dignity of all as a core value, this rising movement can be a key in freeing us from our blaming and shaming culture and moving us toward one in which we’re all responsible and thus able to experience the thrill of democracy.

Richest 1% Captured 82% of Wealth, Poorest Half Got Nothing

January 23, 2018 Staff, Oxfam Educate! Class war, Inequality, Wealth Ineqaulity

Eighty two percent of the wealth generated last year went to the richest one percent of the global population, while the 3.7 billion people who make up the poorest half of the world saw no increase in their wealth, according to a new Oxfam report released today. The report is being released as political and business elites, including President Trump, are heading to Davos, Switzerland for the World Economic Forum. Oxfam’s report, ‘Reward Work, Not Wealth,’ reveals how the global economy enables the wealthy elite to capture vast wealth while hundreds of millions of people struggle to survive on poverty pay. This includes the stunning new finding that the economy created a new billionaire every other day over a period of one year.

Freedom Rider: Oligarch Jeff Bezos

January 20, 2018 By Margaret Kimberley, Blackagendareport.com Educate! Amazon, Capitalism, Class Struggle, Inequality, Ruling Class

Amazon CEO Jeff Bezos has a net worth of $105 billion and is the richest man in the world. But he is not just the richest man at this moment in history. He is the richest person who has ever lived. As of 2017 he and seven other billionaires had a collective net worth equal to that of the poorest 3.6 billion people on earth. These figures have been in the news of late but without much useful analysis. The corporate media refuse to state what is obvious. Namely that inequality is worse around the world precisely because these super rich people demand it. While pundits and politicians go on breathlessly about oligarchs in Russia, they seldom take a look at the wealthiest in their own back yard and the control they exert over the lives of millions of people.

In America, Prisoners With Money Can Pay For Nicer Stay

January 15, 2018 By Kali Holloway, AlterNet.org Educate! Inequality, Prison

Justice in this country has always been for the privileged. The nation’s criminal courts are particularly punitive toward those who are too poor to afford bail, represented by overworked public defenders or simply not rich enough to mount an “affluenza” defense. From arrest to conviction, wealth and whiteness are precious assets for any defendant in a system that favors both. Numerous jurisdictions profit off fines and fees that nickel and dime the poor into debtors’ prisons. And then there are Southern California’s “pay-to-stay” jails, which offer more monied inmates nicer accommodations in exchange for cash. The price to stay in one of these city jails can run the gamut from $25 a day in La Verne to just over $250 in Hermosa Beach.

The World’s Wealthiest Get More Obscenly More Wealthy

December 29, 2017 Tom Metcalf and Jack Witzig, Bloomberg.com Educate! Capitalism, Inequality, Ruling Class

Amazon.com Inc. founder Jeff Bezos added the most in 2017, a $34.2 billion gain that knocked Microsoft Corp. co-founder Bill Gates out of his spot as the world’s richest person in October. Gates, 62, had held the spot since May 2013, and has been donating much of his fortune to charity, including a $4.6 billion pledge he made to the Bill & Melinda Gates Foundation in August. Bezos, whose net worth topped $100 billion at the end of November, currently has a net worth of $99.6 billion compared with $91.3 billion for Gates. George Soros also gave away a substantial part of his fortune, revealing in October that his family office had given $18 billion to his Open Society Foundations over the past several years, dropping the billionaire investor to No. 195 on the Bloomberg ranking, with a net worth of $8 billion.

Any Shame Around Poverty Lies With Society That Perpetuates It

December 26, 2017 By Sarah Jaffe, Truthout.org Organize! Class Struggle, Inequality, Poverty

It is a really, really exciting development. There are a couple of reasons why it is happening now. The most important is that we are at a crisis point in a lot of ways in our country -- certainly in New York State, as well -- in terms of how a large portion of our population is being impacted by poverty, by racism and other forms of discrimination, by militarism and an economy that revolves around war in a lot of ways, and also, ecological devastation. We are really seeing a point at which if we don't really mobilize and organize in a new way that builds power in a new way and connects people in a new way ... we are in trouble.

Truth About Power And Capitalism: A Socialist Response To Tax Bill

December 23, 2017 By Richard D. Wolff, Truthout.org Educate! Capitalism, Inequality, Tax Reform, Taxes

In response to the passage of the GOP tax bill, many voices are now offering variations on the theme of "speak truth to power." It's true enough that tax overhaul, coming after 30 years of widening inequality, widens it further. It is likewise yet another exercise in trickle-down economics, the policy promise that direct economic help to corporations and the rich will eventually lift up the rest of us. The GOP and Trump conveniently disregard the countless economists who have shown that trickle-down is a false promise. However, the limitation of "speaking truth to power" is and always was that it risks leaving us with the truth and them with the power. In today's world, the GOP, Trump and the corporate leaders who sustain them have the power to treat truths as so much "fake news" or simply to ignore them as they push their agendas.

The 1% Will Earn The People’s Hatred

December 22, 2017 Glen Ford, blackagendareport.com Strategize! Class Struggle, Inequality, Ruling Class

Senate Republicans passed a tax bill that House Democratic leader Nancy Pelosi described as “simply theft — monumental, brazen theft from the American middle class and from every person who aspires to reach it.” The measure fulfills every corporate wish list compiled in the 30 years since Ronald Reagan last overhauled the tax code. Pelosi, who once co-chaired the Congressional Progressive Caucus, corralled majority Democratic support for a $700 billion war budget -- by far the largest in human history and nearly $100 billion bigger than President Trump requested. It, too, is a “brazen theft” that will be paid for with future social spending cuts.

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