Copyrighted Image? DMCA | Americans have been watching protests against oppressive regimes that concentrate massive wealth in the hands of an elite few. Yet in our own democracy, 1 percent of the people take nearly a quarter of the nation's income--an inequality even the wealthy will come to regret. An economy in which most citizens are doing worse year after year--an economy like America's--is not likely to do well over the long haul. First, growing inequality is the flip side of shrinking opportunity. Second, many of the distortions that lead to inequality - such as those associated with monopoly power and preferential tax treatment for special interests -undermine the efficiency of the economy. Third, a modern economy requires "collective action"--it needs government to invest in infrastructure, education, and technology. Why is this happening? One big reason is that the rich have seized political control. |
Read the rest of the story HERE:
At tinyurl.com
At tinyurl.com
1
1
1
