- Justice Louis Brandeis
Many say our 'representative democracy' is broken. Extreme economic inequality between the economic elites and everyone else has resulted in extreme political inequality which has resulted in broken economic and political systems.
The video in #1 and the other statistics show that we have an economic inequality problem!
1. Video on economic inequality in the United States - HERE!
2. In 2015, the richest 62 people (388 in 2010) in the world have more wealth than the poorest 3.6 billion! HERE!
3. In 2015, the richest 20 people in the U.S. have more wealth than the poorest 160 million! HERE!
4. CEO of Walmart makes in one hour what the average employee makes in a year - Click HERE!
5. Top 1% in the US has more wealth than the bottom 95%. HERE!
6. CEO Pay vs Average Worker - US 475 to 1, Mexico 47 to 1, Japan 11 to 1.
Chart - Click HERE!
7. In 2010, 93% of all new income went to top 1%. HERE!
8. Statistic page at Inequality .org - HERE
Why is economic inequality a problem for democracy?
These articles, videos, and books speak to the issue of why 'extreme inequality' is a problem for democracy:
* Article - Why Does Economic Inequality Matter? Inequality Distorts Democracy. HERE!
* Article - Stacked Deck Undermines Economic Mobility - HERE!
* Video - A Conversation about Economic Inequality - HERE! (4)
* Video - TED Talk - Can we heal our great divide? - HERE (23)
* Video - Bill Moyers Essay: Plutocracy and Democracy Don’t Mix - HERE! (4)
* Video - Richard Wilkinson: How economic inequality harms societies! HERE! (17)
Richard Wilkinson: How economic inequality harms societies - See more at: http://inequality.org/richard-wilkinson-economic-inequality-harms-societies/#sthash.gkLQydRi.dpuf
Richard Wilkinson: How economic inequality harms societies - See more at: http://inequality.org/richard-wilkinson-economic-inequality-harms-societies/#sthash.gkLQydRi.dpuf
Richard Wilkinson: How economic inequality harms societies - See more at: http://inequality.org/richard-wilkinson-economic-inequality-harms-societies/#sthash.gkLQydRi.dpuf
* Book - 99 to 1: by Chuck Collins - Click HERE! (4)* Book - The Price of Inequality by Joseph Stiglitz - Click HERE! (17)
* Book - Who Stole the American Dream by Hedrick Smith - Click HERE! (22)
Next, how did we become so unequal?
In order to make changes and create a more equal society with opportunity for all, we have to look at how we got into this mess. Economic elites (1%) in 2016 are in control of our economic and political systems, but it was not always that way. In the 40's, 50's, and 60's, we had relative equality in our economic and political systems. Progressive policies were being passed and conservatives where not happy. Conservative Barry Goldwater was strongly defeated in the presidential election against Lyndon Johnson in 1964 and conservatives were looking for ways to change things. The following three things helped conservatives take charge of our economic and political systems in the last 40 years:
1. In 1971, Lewis Powell wrote a memo to the economic elites that had a big influence on changing things.
* The Powell Memo is something everyone should know about. What it is, when it was written, and how it has changed our politics from 1971 until now. Of course the Powell Memo is only one part of the conservative story but it is important part.
^ Powell Memo from August 1971 - HERE!
^ Powell Memo from August 1971 - HERE!
^ Common Dreams article on the Powell Memo - HERE!
^ You tube videos on the Powell Memo - HERE and HERE!
2. Neoliberalism, which is a political-economic theory favoring free trade, privatization, minimal government intervention in business, and reduced public spending on social services, has gained favor in the United States. Many believe that is responsible for much of our problems.
^ Article - Neoliberalism: The Ideology at the Root of All Our Problems - HERE!
^ Video - What is Neoliberalism? HERE! (3) and HERE! (4)
^ Article - Millions Around the World Fleeing from Neoliberal Policy - HERE!
3. Ronald Reagan was elected president in 1980 and promoted the idea that 'government is the problem' and supply-side trickle down economics is the answer.
^ The Failure of Supply-Side economics - HERE!
^ Video on Trickle Down economic - HERE!
2. Neoliberalism, which is a political-economic theory favoring free trade, privatization, minimal government intervention in business, and reduced public spending on social services, has gained favor in the United States. Many believe that is responsible for much of our problems.
^ Article - Neoliberalism: The Ideology at the Root of All Our Problems - HERE!
^ Video - What is Neoliberalism? HERE! (3) and HERE! (4)
^ Article - Millions Around the World Fleeing from Neoliberal Policy - HERE!
3. Ronald Reagan was elected president in 1980 and promoted the idea that 'government is the problem' and supply-side trickle down economics is the answer.
^ The Failure of Supply-Side economics - HERE!
^ Video on Trickle Down economic - HERE!
