Prog Blog’s Flickr Photostream

Northern Reflections: Stunning Inequality

                                                                      http://rabble.ca/

The Broadbent Institute has just released a study on the distribution of wealth in Canada. Rick Smith, the institute’s director, writes:

While the growing income share of the richest 1 per cent often dominates the headlines, looking at the distribution of wealth as opposed to income provides a broader view of the economic resources available to an individual or family.

A family’s wealth can be thought of as the amount of money that would be left over if they sold all their assets and paid off all their debts. Assets might include such things as houses, (Read more…)

Northern Reflections: Sleeping Through The Drama

Thomas Picketty’s new book, Capital In The 21st Century, is generating a flurry of interest south of the border. Paul Krugman has praised the book’s scholarship and its conclusion that we are living in a second Gilded Age. And the central theme of the book — economic inequality — has the president’s attention. Linda McQuaig writes:

From inside the White House, President Barack Obama has made the dramatic surge in inequality his signature issue, describing it as “the defining challenge of our time.”

The book’s central thesis makes eminent sense:

Modern capitalism, left to its own devices, (Read more…)

Northern Reflections: Inequality Keeps Them In Power

Everyone complains about public apathy. We know that democracy in Canada is in trouble. But nothing seems to change. Alex Himelfarb suggests that the reason things don’t change is because we lack social trust:

By “social trust” is meant something more than whether we trust our neighbour or others in our community or in similar circumstance. It is rather the generalized belief that most people in a society can be trusted, including those quite different from ourselves. Social trust is not the same as political trust, but where it is high people are readier to trust their democracy, more (Read more…)

Northern Reflections: A Striking Universe

That’s the title of a recent paper by Jordan Brennan of George Brown College. Tom Walkom writes in today’s Toronto Star that:Brennan’s paper is a critique not only of the economy but of the way most of us look at the economy. He takes on the widespr… . . . → Read More: Northern Reflections: A Striking Universe

Northern Reflections: It’s No Longer a Gap, It’s a Chasm

Carol Goar, in today’s Toronto Star, writes that two recent reports highlight the new solitudes in Canadian society. One report comes from the Toronto Dominion Bank, the other from Food Banks Canada. TD proclaims:

“Canadian corporate balance sheets are solid as a rock,” the bank assured its clients in a special report. “Unlike households and governments, companies are less vulnerable today than they were heading into the 2007-2008 financial crisis.”

Food Banks Canada reports that:

Food bank use has increased 31 per cent since the economy plunged into recession four years ago and it continues to climb. In

. . . → Read More: Northern Reflections: It’s No Longer a Gap, It’s a Chasm