Economic Apartheid in America (and the world)

[Castro]

by Russell Mokhiber and Robert Weissman

 

Top executives now make more in a day than the average worker makes in a year.

 

You can have wealth concentrated in the hands of a few, or democracy. But you cannot have both.

-- Louis Brandeis

 

How wealthy the wealthy are does matter. If we allow great wealth to accumulate in the pockets of a few, then great wealth can set our political agenda and shape our political culture -- and the agenda and the culture that emerge will not welcome efforts to make American work for all Americans.

-- Sam Pizzigati

 

Plutocracy: 1. The rule or power of wealth or the wealthy; 2. A government or state in which the wealthy class rules. 3. A class for group ruling, or exercising power or influence, by virtue of its wealth.

-- Webster's Unabridged Dictionary

 

Of the world's 100 largest economies, 47 are nations, and 53 are corporations.

 

Seventy-five percent of major corporations hire a consultant to stop employees from forming a union.

 

The alarming development and aggressiveness of great capitalists and corporations, unless checked, will inevitably lead to the pauperization and hopeless degradation of the toiling masses. It is imperative, if we desire to enjoy the full blessings of life, that a check be placed upon unjust accumulations and the power for evil of aggravated wealth. -- Constitution of the Knights of Labor, 1869.

 

The Washington monument is 555 feet tall. Say it signifies the 2003 average compensation for CEOs in the Fortune 500. The average worker salary would be only 16 inches tall, representing a ratio of 419 to one. In 1965, the worker's monument was 13 feet six inches tall, representing a ratio of 41 to 1.

 

Inherited economic power is as inconsistent with the ideals of this generation as inherited political power was inconsistent with the ideals of the generation which established our government. -- Franklin D. Roosevelt.

 

Born on home plate -- Forty-two percent of those listed inherited sufficient wealth to rank among the Forbes 400.

 

Examples:

 

J. Paul Getty Jr. inherited the oil fortune from his father.

 

David Rockefeller Sr. ($2.5 billion) is the grandson of the Standard Oil founder John D. Rockefeller.

 

S.I. and Donald Newhouse ($7 billion each) inherited the nation's largest private newspaper chain, plus Conde Nast publications, from their father in 1979.

 

Samuel Curtis Johnson ($1.5 billion) is the great grandson of the flooring salesman who founded the floor wax giant S.C. Johnson and Sons.

 

The United Nations Development Program reported in 1999 that the world's 225 richest people now have a combined wealth of $1 trillion. That's equal to the combined annual income of the world's 2.5 billion poorest people.

 

The richest 10 percent of the world's population receives 49.6 percent of the total world income.

 

The bottom 60 percent receives 13.9 percent of the world's income.

 

The wealth of the world's three most well-to-do individuals now exceeds the combined gross domestic product of the 48 least developed countries.

 

Half of the world's population of six billion live on less than $2 a day, while 1.3 billion get by on less than $1 a day.

 

These are some of things you learn from a new book, just out, titled Economic Apartheid in America: A Primer on Economic Inequality & Insecurity by Chuck Collins and Felice Yeskel with United for a Fair Economy (The New Press, 2005).

 

The book is filled with photos, and charts, and graphs -- that make it a great home schooling tool, for young and old alike.

 

It puts things in perspective.

 

It keeps you on your toes.

 

Read it.

 

Then listen to a little Bill O'Reilly.

 

Then read it some more.

 

Contrast is good.

 

Stretch limousines are longer, yet more people are homeless.

 

Thirty zip codes in America have become fabulously wealthy.

 

Meanwhile, whole urban and rural communities are languishing in unemployment, crumbling infrastructure, growing insecurity and fear.

 

It makes the perfect gift for the holidays.

 

And you probably won't find it Wal-Mart.

 

Or Costco, for that matter.

 

 

Source

[SeeKer]

^^^^ I got a scenerio for you :

 

If you were a king of an Island and on that Island you had a certain number of cows that produced milk on a daily basis for the population. On this Island you do not have import or export trade going on either. One day a couple of the cows die and the milk output becomes lower. Cause and effect will occur and the price of milk shoots up. Milk then becomes unaffordable to some of your populace and they are not happy about it. What would King Castro do?

 

Book looks like a good read but I will take a stab at it and says to leans towards socialism with reviews like this :

 

This book looks at the causes and manifestations of income and wealth disparities in the United States, including tax policy in light of the 2001 and 2003 tax cuts, and recent corporate scandals. The book explores recent changes in income and wealth distribution and examines the economic policies and shifts in power that have fueled the growing divide.

 

Focusing on the decline of organized labor and civic institutions, the battle over global trade, and the growing inequality of income and wages, Economic Apartheid in America argues that most Americans are shut out of the discussion of the rules governing their economic lives.

 

PS:- every Ism has their pro and cons. I am sure there is a book out there that praises the every widening gap between the rich and poor.

[rudy-Diiriye]

well there are all kinds of sides! but the question is who do u believe...! the proof is in the pudding! just use your head!!

 

think about it, this current govt spends less on everything, but their rich goons get richer like the oil tycoon & corporations. look at the deficit. u think rich ppl are gonna pay for it. and do u ever wonder why we pay more taxes than the rich ppl in this country!

 

the major problem in this country n every office that I worked at is fairness!! WHERE IS MY GODDAM FAIR SHARE OF THE FREAKING PIE!! why is my share so little and then i have to pay a cut of this small that i worked so hard for !!

 

Yo, i am tired of it!! I need some answer Pronto!! :mad: :mad:

[Castro]

^ We're sharing the crumbs, saaxib. The pie is in a different zip code.

 

Seeker, as king, I would make sure the state owned the farm and all the cows. That way, the distribution of milk would be equitable and the size of your bank account will not guarantee how much milk you recieve. Of course, the king would soon find trouble in his court for the US will arm some militia to overthrow him since he is putting curbs on free trade (read: transfer of wealth out of the kingdom) and globalization (read: using the commoners as cheap labor by global multinationals).

 

The king is a dead man walking but while he's alive, the poor will have plenty of milk to drink.

[Legend of Zu]

Castro apart from the Americans hunting the King..the King is making sure that the Island dont prosper!..shocking init?..besides..who makes the Govt the owner? is The Govt the owner or the Manager?

 

Cheers

[SeeKer]

Castro u got yourself a situation there matey. You gave everyone milk but like I said supply is limited. How do you propose to do this without affecting the economic balance of your serfdom

 

PS:- this is not a state owned farm and you can't be lord and power over all. Democracy and capitalism flourishes in this Island.

[Castro]

^ Am I the king or not? As king, I decree that essential products (such as fuel, food and healthcare) are heavily regulated if not state owned outright. This king will not allow the ownership of 1000 cows when even one child sleeps hungry at night. It's unacceptable. It is not impossible to establish a rationing system if supply of milk is low. Those who need it most, children and the sick will get it first. As for the prosperity of the island, prosperity, not unlike justice, is meaningless if we don't all have it. If any one of us is impoverished, the prosperity of the others is truly hollow. Finally, the words democracy and capitalism are antonyms if you think about it. As the article explains, what we confuse for the combination of capitalism and democracy is plutocracy.

[SeeKer]

^^^ we got to stop meeting like this

 

Black market will be a problem because u r rationing on a need basis.How do you want to combat this?

[Legend of Zu]

^^^^ She has a point...

 

castro..still the question stands is the Govt owner or manager? and one more when did ownership equals injustice?

 

Cheers

[Cara.]

Ever heard of the "gini coefficient"? It measures inequality in wealth or income, and the US has been leading industrialized nations for years as one of the countries with the highest gini coefficients (ie the most inequal).

 

Ah but I wouldn't want to live anywhere else!

[Cara.]

I think we should start off with basic definitions...

 

Socialism: You have two cows; your neighbor has none so you give him one.

 

Communism: You have two cows, the government takes both and gives you a little milk.

 

Fascism: You have two cows, the government takes both and sells you a little milk.

 

Dictatorship: You have two cows, the government takes both and shoots you.

 

[Totalitarianism:[/b] You have two cows, the government takes both and then denies they ever existed. Milk is banned.

 

Capitalism: You have two cows, you sell one and buy a bull; you breed the cows, raise a herd, sell them, retire and keep two cows

 

Bureaucracy: You have two cows. At first the government regulates what you can feed them and when you can milk them. Then it pays you not to milk them. After that it takes both, shoots one, milks the other and pours the milk down the drain. Then it requires you to fill out forms accounting for the missing cows.

[Castro]

^

 

I'll go for a combination of A and B. It's the only sustainable way to go.

 

Black markets can be combatted with law enforcement and removing the demand for them.

 

Governments should be owners in many cases and managers in the others. The mistaken belief that capitalism needs hands off governing is common. As an example, the US is heavily involved in regulating, managing and keeping an eye on the economy using the federal reserve, the SEC, farm subsidies and other market distorting mechanisms. Of course, the official story line is free enterprise. If that were really the case, a quick and complete collapse of the so called free enterprise economy would occur.

[xiinfaniin]

@Callypso.

 

I vote Capitalism with sanity. Free market is the way to go as long the invisible hand is that of God! Globalization is another name for slavery. So nay, I say.

 

Castro, Hantiwadaagii cilmiga ku dhisnaa soo kii no shaqeyn waayey maaha, saaxiib?

[Castro]

^ Atheer hantiwadaagii Afweeynaa ku xaaray. Not just that, xaarkii intuu qaaday ayuu kab la dhacay.

 

Clearly no system is perfect, but what is important is to make sure that those who are most vulnerable in society (the young, the old, the sick) maintain a decent standard of living and have access to necessary items such as food, shelter and health care. The dignity of every human being should be above and beyond any wealth that is accumulated by the few. Capitalism might work for a time when there's very heavy regulation, otherwise it is doomed to consume itself and everything around it. At this time, the US is prime example why capitalism is at a turning point. Despite much regulation, the wealth disparity is threatening to break the camel's back.

 

Finally, as much as we'd like, God will not descend on earth and regulate markets. We're just gonna have to do this for ourselves. Greed is natural but it's also destructive. We really can have our cake and eat it too with socialism.

[Baluug]

The Islamic system of economy takes the good parts from both capitalism and socialism and combines the two so that one can prosper and have a successful business, yet at the same time, the miskiin are taken care of from the zakah fund. From my understanding, an Islamic govrnment has the right to demand their citizens pay zakah, rather than the citizens pay if they want to or not(if this is not true, let me know). So the gov't could take the zakah likes taxes off your check and use it to help the needy.