Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Economy
In reply to the discussion: STOCK MARKET WATCH -- Wednesday, 11 February 2014 [View all]wilsonbooks
(972 posts)12. The 1% Should Be Afraid: The New Norm in the Workplace Is Unstable
http://truth-out.org/news/item/21785-the-one-percent-should-be-afraid-the-new-norm-in-the-workplace-is-unstable
A new study from Oxfam published just ahead of this year's World Economic Forum meeting in Davos, reported that just one percent of the world's population controls nearly half of the planet's wealth and 70 percent of the world's people live in countries where income inequality has been growing in the last 30 years. In the US, the gap between rich and poor has grown faster than in any other developed country. The top one percent has captured 95 percent of all growth since the putative "recovery" of 2009. This is the "new normal." Is it sustainable?
Barbara Garson is the author of a series of books describing American working lives at historically important turning points. If this is one of those turning points, it's one in which the one percent have won:
"That the so-called recovery that everyone is bragging about is this," Garson told GRITtv in a recent interview. "We've recovered, we've taken your full-time job away and given you a part-time job, and we've given the difference to our stockholders."
The trouble is, this cockeyed situation is not stable, and even the capitalists, maybe especially the capitalists, should be worried.
"There are capitalist solutions, like redistribution, but they're not doing it. That may be why we have a socialist solution this time," she concludes. "If seventeen percent of the houses are vacant, we'll just move into them."
A new study from Oxfam published just ahead of this year's World Economic Forum meeting in Davos, reported that just one percent of the world's population controls nearly half of the planet's wealth and 70 percent of the world's people live in countries where income inequality has been growing in the last 30 years. In the US, the gap between rich and poor has grown faster than in any other developed country. The top one percent has captured 95 percent of all growth since the putative "recovery" of 2009. This is the "new normal." Is it sustainable?
Barbara Garson is the author of a series of books describing American working lives at historically important turning points. If this is one of those turning points, it's one in which the one percent have won:
"That the so-called recovery that everyone is bragging about is this," Garson told GRITtv in a recent interview. "We've recovered, we've taken your full-time job away and given you a part-time job, and we've given the difference to our stockholders."
The trouble is, this cockeyed situation is not stable, and even the capitalists, maybe especially the capitalists, should be worried.
"There are capitalist solutions, like redistribution, but they're not doing it. That may be why we have a socialist solution this time," she concludes. "If seventeen percent of the houses are vacant, we'll just move into them."
Edit history
Please sign in to view edit histories.
32 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations