We meet in the midst of a nation brought to the verge of moral, political, and material ruin… our homes are covered with mortgages, labor impoverished; and the land concentrating in the hands of the capitalists… The fruits of toil of millions are boldly stolen to build up colossal fortunes
Continue readingTag: one percent
Political Eh-conomy: We can’t all be workers: Putting inequality in the inequality debate
It’s easy to get confused about who is a worker and who isn’t these days. Your CEO may worker longer hours than you, not the top-hatted capitalist of the Monopoly board he. Indeed, it may seem that the leisure class of the turn of the last century has been replaced
Continue readingThe Progressive Economics Forum: The labour share and income inequality
All the recent talk about the Canada’s shrinking middle class and rising income inequality got me thinking that it might be a good time to take a fresh look at a somewhat neglected economic concept: the labour share of income. The labour share of income hopes to measure the portion
Continue readingEclectic Lip: Sniffs from a Schiff…
(Originally written March 7, 2012. Part of Great Upload of 2013.) A colleague once showed me a book by Peter Schiff, in which the author and investment-house CEO purported to explain how the US got into the muddle they’re in. Like so many textbooks I left it unread, but according
Continue reading350 or bust: In A Capitalist Economy, the True Job Creators Are Middle Class
Nick Hanauer, entrepreneur and one percenter, exposes the fallacy that it’s the super rich who create jobs. He makes a strong case for taxing the rich to create benefits for the entire society, including growing the middle class. It’s good policy for everyone. Hanauer asserted that TED refused to post
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