Medium Income and Poverty in the United States

There is a basic belief in America that if you work hard, you can support yourself and your family. I have always argued that this is a myth for a great many of us. There is a simple proof: Median Household Income -- the income of every resident of that house that is over the …

Continue reading Medium Income and Poverty in the United States

Advertisements

A Summary of “The Great Leveler” by Walter Scheidel

Walter Scheidel, an Austrian historian from Stanford University has taken time off from his main interest (the Romans) to write a powerful, and pretty depressing, book on inequality. His book is called The Great Leveler: Violence and the History of Inequality from the Stone Age to the 21st Century. Its argument is: For thousands of …

Continue reading A Summary of “The Great Leveler” by Walter Scheidel

The 9.9% – The New American Aristocracy

From The Atlantic, June 2018 issue: Let’s talk first about money—even if money is only one part of what makes the new aristocrats special. There is a familiar story about rising inequality in the United States, and its stock characters are well known. The villains are the fossil-fueled plutocrat, the Wall Street fat cat, the …

Continue reading The 9.9% – The New American Aristocracy

Milton Friedman on the Social Responsibility of Business – To Increase its Profits!

Hi, Recently, I wrote an article titled Examples of the Inherent Corrupt Nature of Corporations quoting Bakan's conclusion that corporations are inherently corrupt because they are legally bound to place profit over everything, even the public good and provided relevant and timely examples in support. I've also written a few articles criticizing corporate hegemony: Under Oath, …

Continue reading Milton Friedman on the Social Responsibility of Business – To Increase its Profits!

The Great Gatsby Curve

The Great Gatsby Curve illustrates the connection between concentration of wealth in one generation and the ability of those in the next generation to move up the economic ladder compared to their parents. The curve was introduced in a 2012 speech by chairman of the Council of Economic Advisers Alan Krueger, an economist and a …

Continue reading The Great Gatsby Curve

James Baldwin on the White Man’s Necessity for a Nigger

Hi, I'm a bit embarrassed that I have not dedicated a space on this blog to talk about one of my favorite intellectuals: James Baldwin. In 1965, Baldwin visited Cambridge University for a historic debate against the leading Conservative "intellectual", William F. Buckley. The debate took place at the debating hall of Cambridge Union surrounded …

Continue reading James Baldwin on the White Man’s Necessity for a Nigger

Examples of the Inherent Corrupt Nature of Corporations

Hi, In 2004, Joel Bakan published a book titled: The Corporation: The Pathological Pursuit of Profit and Power. Balkan argued that Corporations are inherently corrupt because they are legally bound to place profit over everything, even the public good.  The book was turned into a successful film and a movement was launched. I agree with Bakan's …

Continue reading Examples of the Inherent Corrupt Nature of Corporations