1. 1109
    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. snowohno reblogged this from subrok
    2. druelikesthings reblogged this from kateoplis
    3. his-undies reblogged this from stfuconservatives
    4. illinitico reblogged this from ex-frat-man
    5. txmac5911 reblogged this from ex-frat-man
    6. queerflexible reblogged this from ex-frat-man
    7. ex-frat-man reblogged this from kateoplis
    8. sqwhirlly reblogged this from uberfunn
    9. uberfunn reblogged this from heyitsseanb
    10. you-filth reblogged this from polychroniadis
    11. nightwithmoon reblogged this from dewritten
    12. ilikefoodtoo reblogged this from loresssssaaaaaaaaa and added:
      this shit pisses me off.
    13. loresssssaaaaaaaaa reblogged this from moneyisnotimportant and added:
      THIS IS CRAZY!
    14. thegoodlige reblogged this from ronworkman
    15. saltroseandhoneybee reblogged this from kateoplis
    16. fuckyeahjoybarr reblogged this from andres
    17. thelightdynamic reblogged this from kateoplis
    18. sarahmcnamaraisnotcreative reblogged this from aka14kgold
    19. aka14kgold reblogged this from anedumacationisnomore and added:
      Such an edifying chart :/
    20. anedumacationisnomore reblogged this from bowiecadmium
    21. bowiecadmium reblogged this from kateoplis
    22. itmightbehere reblogged this from stfuconservatives
    23. jjarichardson reblogged this from think4yourself
    24. purplesheep reblogged this from antithestasia
    25. antithestasia reblogged this from stfuconservatives
    26. drewsdreams reblogged this from bobsroadhouse
    27. nametags reblogged this from stfuconservatives
    28. nrgins reblogged this from kateoplis and added:
      Wages used to rise with productivity. Until 1980. Then they fell flat. [graphic] via
    29. rationalcapitalistspeculator reblogged this from reasonedoverreaction
    30. reasonedoverreaction reblogged this from sociopoliticaldribble
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