Income Inequality: Difference between revisions
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[https://www.pbs.org/newshour/economy/why-robert-reich-cares-so-passionately-about-economic-inequality by Robert Reich 15/10/13 PBS NEWS] | [https://www.pbs.org/newshour/economy/why-robert-reich-cares-so-passionately-about-economic-inequality by Robert Reich 15/10/13 PBS NEWS] | ||
Robert Reich:The argument is that inequality is bad for everyone, not just the middle class and poor. The rich would do better with a smaller share of a rapidly growing economy then they’re doing now with a large share of an economy that is barely growing at all. It’s not growing because there’s not enough purchasing power in the middle class, and the lower-middle class and everybody aspiring to join the middle class, to keep the economy going. | Robert Reich:The argument is that inequality is bad for everyone, not just the middle class and poor. The rich would do better with a smaller share of a rapidly growing economy then they’re doing now with a large share of an economy that is barely growing at all. It’s not growing because there’s not enough purchasing power in the middle class, and the lower-middle class and everybody aspiring to join the middle class, to keep the economy going. | ||
=====Inequality as Policy===== | |||
[https://www.counterpunch.org/2016/11/01/inequality-as-policy/ by Dean Baker 1/11/16 COUNTERPUNCH] | |||
Starting with globalization, there was nothing pre-determined about a pattern of trade liberalization that put U.S. manufacturing workers in direct competition with their much lower paid counterparts in the developing world. Instead, that competition was the result of trade pacts written to make it as easy as possible for U.S. corporations to invest in the developing world to take advantage of lower labor costs, and then ship their products back to the United States. | |||
