Power of Story Send a Tweet        
- Advertisement -

Share on Google Plus Share on Twitter Share on Facebook 1 Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend (1 Shares)  

Printer Friendly Page Save As Favorite View Favorites (# of views)   4 comments
OpEdNews Op Eds

The Pope Says Greed Is Not Good

By       Message Thom Hartmann       (Page 1 of 3 pages)     Permalink

Related Topic(s): ; ; ; , Add Tags  Add to My Group(s)

Must Read 1   Well Said 1   Valuable 1  
View Ratings | Rate It

opednews.com Headlined to H2 9/27/15

Author 1486
Become a Fan
  (127 fans)
- Advertisement -

Reprinted from Smirking Chimp

From commons.wikimedia.org/wiki/File:Pope_Francis_Palo_11.jpg: Pope Francis
Pope Francis
(Image by commons.wikimedia.org)
  Permission   Details   DMCA

In 1987 the film "Wall Street" summed up the general feeling in Reagan's United States with Gordon Gecko's legendary speech that hinged on one phrase.

- Advertisement -

"Greed is Good."

That became the private mantra for vulture capitalists and hedgefund managers through to today -- and it made a catchy case for "trickledown" Reaganomics.

But that film didn't invent the idea -- it just spelled it out.

- Advertisement -

Seven years before that film came out -- from the very beginning of the Reagan era -- that idea was applied to every aspect of our society.

Public programs were privatized -- and common resources handed over to private corporations.

Reaganomics -- the idea that greed is good and profits naturally lead to justice and equality for all -- has had a number of dramatic effects on US society.

It's led to the rise of charter schools and for-profit colleges and the decline of public education while student debt has exploded.

It's given us a health-care system that promotes profits over people -- a system where pharmaceutical companies spend more on advertising prescription drugs than on research and development of new and more affordable treatments.

It's led to the rise of for-profit prisons that create profits out of human misery.

- Advertisement -

But what Reaganomics didn't create is any shared prosperity.

It has created an unholy amount of wealth -- but that wealth is concentrated in the hands of very few -- while the vast majority of Americans since the Reagan presidency have seen their standard of living decline.

In 1980 -- the richest families only owned about 10 percent of US wealth -- whereas the bottom 90 percent of families possessed about one third of all the wealth in the United States.

But now -- the families in top one hundredth of the 1 percent own nearly as much as the bottom 90 percent of families.

At the beginning of the Reagan era -- homelessness and poverty exploded -- and it didn't decline in any significant way for another 20 years.

Next Page  1  |  2  |  3


- Advertisement -

Must Read 1   Well Said 1   Valuable 1  
View Ratings | Rate It


Thom Hartmann is a Project Censored Award-winning New York Times best-selling author, and host of a nationally syndicated daily progressive talk program on the Air America Radio Network, live noon-3 PM ET. www.thomhartmann.com His most recent books are "The Last Hours of Ancient Sunlight," "Unequal Protection: The Rise of Corporate Dominance and the Theft of Human Rights," "We The People," "What Would Jefferson Do?," "Screwed: The Undeclared War (more...)

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon Share Author on Social Media   Go To Commenting

The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

S&P Blames Republicans, Mainstream Media Fails to Report It

Globalization Is Killing The Globe: Return to Local Economies

The Great Tax Con Job

The Uncanny, Frightening Ways That Trump's America Mirrors Hitler's Germany

The Truth about the Trust Fund-- Destroying Social Security to Destroy the Two Party System

The Deciding Moment: The Theft of Human Right