1. 1113
    5
    Sep
    Really great and well put article
heylaney:

roadrunnersoup:

kateoplis:

Robert Reich: The Limping Middle Class

The economy won’t really bounce back until America’s surge toward inequality is reversed. Even if by some miracle President Obama gets support for a second big stimulus while Ben S. Bernanke’s Fed keeps interest rates near zero, neither will do the trick without a middle class capable of spending. Pump-priming works only when a well contains enough water.
Look back over the last hundred years and you’ll see the pattern. During periods when the very rich took home a much smaller proportion of total income — as in the Great Prosperity between 1947 and 1977 — the nation as a whole grew faster and median wages surged. We created a virtuous cycle in which an ever growing middle class had the ability to consume more goods and services, which created more and better jobs, thereby stoking demand. The rising tide did in fact lift all boats.
During periods when the very rich took home a larger proportion — as between 1918 and 1933, and in the Great Regression from 1981 to the present day — growth slowed, median wages stagnated and we suffered giant downturns. It’s no mere coincidence that over the last century the top earners’ share of the nation’s total income peaked in 1928 and 2007 — the two years just preceding the biggest downturns.

Read on.

Worth the read.

I echo the fact that this is a worthwhile read.

    Really great and well put article

    heylaney:

    roadrunnersoup:

    kateoplis:

    Robert Reich: The Limping Middle Class

    The economy won’t really bounce back until America’s surge toward inequality is reversed. Even if by some miracle President Obama gets support for a second big stimulus while Ben S. Bernanke’s Fed keeps interest rates near zero, neither will do the trick without a middle class capable of spending. Pump-priming works only when a well contains enough water.

    Look back over the last hundred years and you’ll see the pattern. During periods when the very rich took home a much smaller proportion of total income — as in the Great Prosperity between 1947 and 1977 — the nation as a whole grew faster and median wages surged. We created a virtuous cycle in which an ever growing middle class had the ability to consume more goods and services, which created more and better jobs, thereby stoking demand. The rising tide did in fact lift all boats.

    During periods when the very rich took home a larger proportion — as between 1918 and 1933, and in the Great Regression from 1981 to the present day — growth slowed, median wages stagnated and we suffered giant downturns. It’s no mere coincidence that over the last century the top earners’ share of the nation’s total income peaked in 1928 and 2007 — the two years just preceding the biggest downturns.

    Read on.

    Worth the read.

    I echo the fact that this is a worthwhile read.

    1. creativedaydreamer reblogged this from kateoplis
    2. mrfab8 reblogged this from kateoplis
    3. vegangstaparty reblogged this from kateoplis
    4. opa-inspiration reblogged this from polychroniadis
    5. cadavezmasclaro reblogged this from ayse
    6. snowohno reblogged this from subrok
    7. sautetherich reblogged this from kateoplis
    8. hellas-din reblogged this from stfuconservatives
    9. illinitico reblogged this from ex-frat-man
    10. txmac5911 reblogged this from ex-frat-man
    11. queerflexible reblogged this from ex-frat-man
    12. ex-frat-man reblogged this from kateoplis
    13. sqwhirlly reblogged this from uberfunn
    14. uberfunn reblogged this from heyitsseanb
    15. ars-mori-endi reblogged this from polychroniadis
    16. nightwithmoon reblogged this from dewritten
    17. ilikefoodtoo reblogged this from loresssssaaaaaaaaa and added:
      this shit pisses me off.
    18. loresssssaaaaaaaaa reblogged this from moneyisnotimportant and added:
      THIS IS CRAZY!
    19. thegoodlige reblogged this from ronworkman
    20. saltrose-and-honeybee reblogged this from kateoplis
    21. fuckyeahjoybarr reblogged this from andres
    22. thelightdynamic reblogged this from kateoplis
    23. smarileekemp reblogged this from aka14kgold
    24. aka14kgold reblogged this from anedumacationisnomore and added:
      Such an edifying chart :/
    25. anedumacationisnomore reblogged this from bowiecadmium
    26. bowiecadmium reblogged this from kateoplis
    27. itmightbehere reblogged this from stfuconservatives
    28. jjarichardson reblogged this from think4yourself
    29. purplesheep reblogged this from antithestasia
    30. antithestasia reblogged this from stfuconservatives
    31. drewsdreams reblogged this from bobsroadhouse
avatar_96
I am ADD personified; a lover of things unique, beautiful, creative, inspirational even when those things might contradict some other liking of mine. I'm trying to make sense of it all, one post at a time.
Page 1 of 1

Following

See more stuff I like