Celebrating the One Percent: Is Inequality Really Good for the Economy?

“The state is that great legal fiction where everyone tries to live at the expense of everyone else; the !% get the 99% to aspire to their level in the pyramid scheme; a greedy gamble all are willing to make; in peace

Counter Information

Global Research, September 21, 2016
CounterPunch 20 September 2016
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To paraphrase Mark Twain, everyone complains about inequality, but nobody does anything about it.

What they do is to use “inequality” as a takeoff point to project their own views on how to make society more prosperous and at the same time more equal. These views largely depend on whether they view the One Percent as innovative, smart and creative, making wealth by helping the rest of society – or whether, as the great classical economists wrote, the wealthiest layer of the population consist ofrentiers, making their income and wealth off the 99 Percent as idle landlords, monopolists and predatory bankers.

Economic statistics show fairly worldwide trends in inequality. After peaking in the 1920s, the reforms of the Great Depression helped make income distribution more equitable and stable until 1980. [1]

Then, in the wake of…

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