The growth of inequality over decades is due to the ability of those at the top and those at the very top to capture a large portion of the growing surplus. But there has also been a change in the nature of that inequality in recent years, at least for those at the top—which is not due to escalating wage inequality, but to a boom in income from the ownership of stocks and bonds. They’ve now joined the ranks of the “coupon clippers,” who are able to use their accumulated wealth to get their share of the surplus.
The owners of capital at the very top are mirroring the structure of inequality last seen during the first Gilded Age.(More...)
This week: Updates on United Airlines' flier abuse, Cuomo's flawed "free college" plan, what to do as self-drive vehicles end millions of jobs, and big investors plan to cash in on Trump infrastructure plans...(More...)
Professor Richard Wolff talks with acTVism Munich about public debt, the process of printing money, the role that corporate banks play...(More...)
Global Capitalism: "Trump’s Big Economic Plans Fade"
with Richard D. Wolff
Co-sponsored by Democracy at Work, Left Forum & Judson Memorial Church