Joblessness, income equality, wealth inequality, social immobility: NONE of these is what pseudo-liberal economist Paul Krugman called: ““the defining challenge of our time”.
That’s because NONE of them is the disease that is really destroying our country. They are all of them only symptoms of that disease.
And that disease is one that status quo economists like Krugman will never dare identify. That disease is unfettered, (so-called) free market, (so-called) private enterprise capitalism and its absolute control over our political process.
We know damn well, that there is no “free market”. Those with connections to wealth can buy their way out of competition through regulations, tax breaks and other benefits designed specifically for them by the politicians they own and operate and paid for by working folks at the bottom.
Same goes for “private enterprise”: the wealthiest capitalists all rely upon federal subsidies that no ordinary business man can ever obtain.
The net result is a growing gap between those few with connections and wealth and those many without it. It is nothing new. One hundred fifty years ago, Marx identified it as class struggle
“With the global economy in a protracted crisis, and workers around the world burdened by joblessness, debt and stagnant incomes, Marx’s biting critique of capitalism — that the system is inherently unjust and self-destructive — cannot be so easily dismissed. Marx theorized that the capitalist system would inevitably impoverish the masses as the world’s wealth became concentrated in the hands of a greedy few, causing economic crises and heightened conflict between the rich and working classes. “Accumulation of wealth at one pole is at the same time accumulation of misery, agony of toil, slavery, ignorance, brutality, mental degradation, at the opposite pole,” Marx wrote.
A growing dossier of evidence suggests that he may have been right. It is sadly all too easy to find statistics that show the rich are getting richer while the middle class and poor are not. A September study from the Economic Policy Institute (EPI) in Washington noted that the median annual earnings of a full-time, male worker in the U.S. in 2011, at $48,202, were smaller than in 1973. Between 1983 and 2010, 74% of the gains in wealth in the U.S. went to the richest 5%, while the bottom 60% suffered a decline, the EPI calculated. No wonder some have given the 19th century German philosopher a second look.”
Read more: Karl Marx’s Revenge: Class Struggle Grows Around the World | TIME.com http://business.time.com/2013/03/25/marxs-revenge-how-class-struggle-is-shaping-the-world/#ixzz2nkXP6j1d
This problem has been made worse by the failure of the working classes to recognize their enemies and fight against them. Right now in the USA, there is no elected political party. But the only party that does stands for this is,The Statehood Green Party that is a Democratic Socialist Labor environmental, partyon the side of the workers. Reforming that situation ought to be the top political priority of our time, but you will NEVER hear Obama or Krugman or any other establishment politician or economist say as much.
Stracuzzi / Stassi