The Practical Choice: Not American Capitalism or "Welfare State Socialism" But

[applegrove]

The Practical Choice: Not American Capitalism or "Welfare State Socialism" but an Economy That's Working for a Few or Many

by Robert Reich

http://robertreich.org/post/86359911960

"SNIP.................


Meanwhile, Canada and Europe continued on as before. Soviet communism went bust, and many of us assumed European and Canadian “socialism” would as well.

That’s why recent data from the Luxembourg Income Study Database is so shocking.

The fact is, we’re falling behind. While median per capita income in the United States has stagnated since 2000, it’s up significantly in Canada and Northern Europe. Their typical worker’s income is now higher than ours, and their disposable income – after taxes – higher still.

It’s difficult to make exact comparisons of income across national borders because real purchasing power is hard to measure. But even if we assume Canadians and the citizens of several European nations have simply drawn even with the American middle class, they’re doing better in many other ways.



..................SNIP"

[Jackpine Radical]

1. " they’re doing better in many other ways."

like national healthcare programs, decent retirement plans and earlier retirements, functioning social safety nets, parental leave, 6 weeks of vacation, functioning education systems…

[adirondacker]

2. The middle and poor fell behind during Nixon and it's been 1 step forward, 2 steps back ever since.

The "austerity" measures imposed on Europeans is having the same effect on their politics, drifting rightward and partitioning the population to cause derision.

But hey, the stock market is BOOMING!