Class Warfare Jeopardizing American Workers' Security - by Stephen Lendman
Warren Buffett once said:
"There's class warfare, all right, but it's my class, the rich class, that's making war, and we're winning," Obama's deficit-cutting agenda the latest battle.
On May 4, Hugo Radice, Life Fellow of the University of Leeds School of Politics and International Studies, headlined an article, "Cutting Public Debt: Economic Science or Class War?" asking:
"Is cutting the public debt really an objective economic necessity, or is it actually a deeply political stance, reflecting the interests of the business and financial elites?"
Analyzing historical public policies, he explained the shift from earlier Keynesianism to "the unchallenged hegemony of free-market neoliberalism since the early 1990s." In fact, over the past three decades, it was notable, beginning under Britain's Margaret Thatcher and America's Ronald Reagan, establishing practices that succeeding administrations hardened. As a result, Britain's New Labour governs like Conservatives while American Democrats mimic Republicans, especially on imperial and pocket book issues.
Radice calls it class warfare, pitting private wealth against public good, "a new common-sense" based on property rights, individualism, and notion that free markets work best so let them, including the right to demand massive public spending cuts, ones Radice says "are not, repeat not, economically necessary."
Nonetheless, for over 30 years, they've been ongoing. Since the mid-1970s, real wages haven't kept pace with inflation. Benefits have steadily eroded. High-paying jobs disappeared. Improved technology forced wage earners to work harder for less. More than ever, "free" markets work only for those who control them.