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"In today’s world of what Markovits calls “meritocratic inequality,” these highly skilled workers are not merely productive and desirable employees; they have come to dominate the rest of society from their perches in finance, tech, medicine, the law. (He calls them “superordinate workers,” as in, not subordinate—Young isn’t the only ...Read More
“The trigger for people becoming more aware of inequality was the crisis and the slowdown in real growth,” says Milanovic. “It wasn’t a topic on its own that came up just as people saw Bill Gates or Jeff Bezos being rich. It came as incomes hadn’t risen as they’d been ...Read More
“Material or energy dematerialisation is simply not enough. It must be accompanied by an economy built on care and responsibility, rather than profit, growth and self-interest if it is to have any long-term impact. This is a small but absolutely crucial step towards attaining the authentic desires for sustainability that ...Read More
Wow. This reads like the start of a dystopian dark comedy novel. Such a sad, and likely portentous, fate for such a beautiful place.
“5 million New Yorkers have no rent protection at all. Over half of low-income tenants in the state are currently paying more than 50 percent of their income in rent.” Wild to see this article merely two weeks after I left NYC and set my sights on places like Portland ...Read More
"Relevant" detail here: author is literally descended from California land barons and old-money philanthropists
Yessssss, thissssssss — hallelujah, Sweet Reason! — ‘“Congress does not have to borrow—that’s completely optional. Instead the government can let people hold cash. That way there would not be fights over the debt and debt ceiling,” Kelton said. Critics of MMT often argue that such policies could lead to hyperinflation. But Kelton does not see that as a threat in the U.S. ...Read More
"Forget the 1 percent for a moment. It’s the top fifth that rules."
As a parallel: if I come into possession of an EpiPen, and I encounter a child experiencing a severe allergic reaction, the question of whether I am obligated to inject the child is distinguishable from the question of whether I obtained the pen legitimately. #wealth #inequality