…some very good stuff, starting with:Rima Rigas-
Joseph Stigliz gave The Atlantic’s Gillian White a great interview last week:

“White: Do you think any of the groundwork has been laid to reduce that inequality going forward?

Stiglitz: We’re in a little bit of better place, but not a lot better. It’s obviously better to have 5 percent unemployment than 10 percent unemployment. And there’s been the beginning of a housing recovery that has helped restore some of the wealth of ordinary Americans. But the damage that has been done is very deep and has persistent effects. The labor force participation rate of people in their 40s, 50s, is still lower than it’s been in decades. People who lost their jobs in 2008, didn’t get jobs in 2009, ‘10, ‘11, maybe aren’t likely to get a job ever. If they do, it’s not going to be anywhere near as good as their old job. There are many people for whom they lost their job at 50 or 55 and are unlikely to ever work again. The scar is permanent.

Another aspect of what I would say is the imperfect recovery, is that the marginalized groups remain marginalized. And while they’ve benefitted, the levels of unemployment are still very very high.…

What Stiglitz is talking about is what happens when you have secular stagnation. This is at the heart of what I’ve been writing about: the new social underclass called precariat, which you can read about here:

And from Rima’s blog:

AMY GOODMAN: What would you say Bernie Sanders should say that would satisfy you in how he understood the issue of racial and economic oppression?

ANGELA DAVIS: Well, I would think that he might recognize the extent to which capitalism is racial capitalism, as Cedric Robinson pointed out. Capitalism was built on slavery. And throughout the history of capitalism, we see the extent to which racism is intertwined with economic oppression. It seems that he does not have the vocabulary that allows him to acknowledge the role and the influence that racism has played historically. He thinks that economic justice will automatically lead us to racial justice.”


Our 2 parties play good cop bad cop, giving Americans the narrowest range of political solutions of most modern countries. Voters have been trained to accept that our elections don’t really solve our problems. The h/c systems working well for generations abroad are here still OFF THE TABLE for discussion in 2016. Unions are a dirty word. We fight for decent wages.

If our liberals just make excuses, we’ll have to wait still longer to reach 20th C standards of modern countries–in h/c, employee protections, education, criminal justice, and campaign finance.

Posted in Money Coup; Political Economy; Grotesque Inequality; New Gilded Age

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