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wealth-inequality

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Recent news about Amazon has focused on the abusive conditions that prevail in the company's headquarters in Seattle. A “more comprehensive indictment,” writes a lifelong resident of the city, would “describe its effect on” the city, “which used to be a great place to live."

Chris Hedges

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The economist and philosopher foresaw that capitalism had built within it the seeds of its own destruction, that the greed of a tiny elite would eventually bring down the system. The final stages that he predicted are visible all around us now.

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Wealth hidden by tax shelters and non-responses to questionnaires is so undercounted that "correcting for similar lapses in income data almost erases progress made from 1988 to 2008 in narrowing the gap between the world’s rich and poor," Bloomberg contributor Jeanna Smialek reports that a body of research has found.

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The celebrity economist's proposal of an "international IRS" as a means to end rampant wealth inequality falls far short of methods that exist in the American tradition, Salon columnist Thomas Frank writes in a critique of the best-selling "Capital in the Twenty-First Century."

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