Archive for October, 2012

The Self-Destruction of the 1 Percent | New York Times

By Chrystia Feeland

Ms. Freeland writes, “The history of the United States can be read as one such virtuous circle. But as the story of Venice shows, virtuous circles can be broken. Elites that have prospered from inclusive systems can be tempted to pull up the ladder they climbed to the top. Eventually, their societies become extractive and their economies languish.

“That was the future predicted by Karl Marx, who wrote that capitalism contained the seeds of its own destruction. And it is the danger America faces today, as the 1 percent pulls away from everyone else and pursues an economic, political and social agenda that will increase that gap even further — ultimately destroying the open system that made America rich and allowed its 1 percent to thrive in the first place.

“You can see America’s creeping Serrata in the growing social and, especially, educational chasm between those at the top and everyone else. At the bottom and in the middle, American society is fraying, and the children of these struggling families are lagging the rest of the world at school.” (more…)

The Shared Prosperity Election

Voting to preserve morally stale, unproductive and oligarchy self-serving economic inequalities will only reinforce the trickle-down public versus trickle-down private sector thematic impedance mismatch. This, in turn, will exacerbate opportunistic tendencies within those who jump to capitalize on so-called electoral mandates to entertain even more disingenuous comparisons between inherent incongruities. Economic statistics prove in jobs lost and created both domestically and overseas during any possible recent timeframe that predatory capitalism’s track record in picking and sticking winners and losers holds a candle to no one among the bottom rungs of America’s social misery index. (more…)

No Longer The “Gimme Election”

This year is no different from any other national election year in recent memory. Primal political party strategies emerging before November’s archetypal vote continue to mark strong differences between “prosperity gospel” versus compassionate conservatives on the right pitted against “divine left” elitist class versus working class progressives on the left. The principal similarities between the two inner party schisms are that both the “prosperity gospel” and “divine left” wings have dominated when governing while the themes of compassionate conservatism and working class justice serve to win elections. Choosing to honor what wins elections while ending this equally flawed dichotomy within either party will create the next decade’s governing mandate.

Similarly, juxtaposing campaign contradictions with economic reality, this year’s presidential candidates confront two principal problems trying to drive a political and philosophical schism between “an opportunity society, where free people and free enterprise thrive and success is admired and emulated,” and an activist, more efficient and effective government working to promote equal opportunities to “ensure that all Americans have a fair shot if they work hard.” First, really smart and competitive nations know how, eclectically, to converge both so that the whole exceeds the sum of the parts. Second, unmistakably skewed U.S. income inequality statistics show that the voting public knows that neither of the two approaches is working correctly either independently or together. (more…)

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