If you don’t subscribe to the idea that capitalism is the only moral economic system, an idea boldly proclaimed by Christians infatuated with Ayn Rand’s philosophy, and you dare mention inequality, you will probably be accused of class envy. Or, you will be labeled a socialist. It matters not to these ideologues that you reject socialism outright. Read more
Tag Archives: Inequality
Few topics invoke a maddening response like income and wealth inequality does. Just as Pavlov’s dogs salivated in response not only to food but also to stimuli (like lab coats and bells) associated with food, the mere mention of inequality causes many of us to salivate at the opportunity to make our ideological opponents look stupid or immoral. Read more
How Much Socialism Does It Take to Collapse An Economy? Part 1
Economic and societal collapse in any nation is a tragedy. Inflation at 700% (expected to reach 2000% by 2018) devours the life savings of every Venezuelan. Food shortages along with high food prices caused the average poor Venezuelan to lose 19 pounds last year. Violent protests wrack Venezuela leaving some no choice but to flee their homes hoping to find a better life in a neighboring country. Others, with medical or engineering degrees in hand, have fled to Columbia but have found no work except as prostitutes. Economic sanctions squeeze Venezuela, restricting its ability to borrow money, though some nations, for political reasons, may lend at punitive rates. Meanwhile, President Maduro apparently has no intention of stepping down or declaring bankruptcy. Read more
Stolen Jobs, Stolen Future
Stagnating wages, American job losses to overseas workers, underemployment and inequality have all been front-and-center issues for both Democrats and Republicans in this year’s presidential election. Read more
Do you feel repressed? No? Well, maybe you should.
Please let me explain. If you live in a nation that has a central bank (and who doesn’t?) then you are probably subjected to some form of financial repression. Read more
“…all the talk of America’s economic decline is political hot air.” – President Obama
It is odd that the president said this about the economy last Tuesday in his State of the Union Address. Read more
Recently, some Republican Candidates have begun to acknowledge that income inequality is a legitimate issue. They, for the most part, differ from Democrats mainly by blaming inequality more on government policy than on the actions of the wealthy. Read more
In part 1 of this series on inequality, I proposed that an abnormally high level of income and wealth inequality is a sign of a dangerously sick economy. Read more
Is inequality the defining moral issue of our time as Bernie Sanders suggests on his website? Or, is inequality a normal outcome in an economy based on people making free choices?