A newly-released analysis by the Economic Policy Institute shows that the super-rich have done well in the economic recovery while almost everyone else has done badly.
Robert Reich - The Non Zero-Sum Society
Excerpts:
... If they were rational, the wealthy would support public investments in education and job-training, a world-class infrastructure (transportation, water and sewage, energy, internet), and basic research – all of which would make the American workforce more productive.
If they were rational they’d even support labor unions – which have proven the best means of giving working people a fair share in the nation’s prosperity.
... The wealth of the Walton family now exceeds the wealth of the bottom 40 percent of American families combined, according to an analysis by the Economic Policy Institute. But how can Walmart expect to continue to show fat profits when most of its customers are on a downward economic escalator?
Walmart should be unionized. So should McDonalds. So should every major big-box retailer and fast-food outlet in the nation. So should every hospital in America.
That way, more Americans would have enough money in their pockets to get the economy moving. And everyone – even the very rich – would benefit.
Read entire article:
