Editorials & Other Articles

zentrum

(9,865 posts)

4. Went to a free public

Sat Apr 19, 2014, 03:07 PM

Apr 2014

Last edited Sat Apr 19, 2014, 04:32 PM - Edit history (1)

.... presentation and panel discussion, featuring Piketty and others. He's made a life work out of studying the economies of 30 nations, collecting data on income distribution since the 1800s.

On every chart he presented, America is the worst of the developed nations. We have the most income disparity with the top 2% owning more, proportionately, than any other developed economy. Why? He says there are two reasons: the outsize pay of our top executives, and our tax structure, which while progressive, allows the rich to hoard too much of their money.

The wealth income ration is getting worse and worse and he says will eventually be irreversible except by revolution a la France in 1789.

The cure? He recommends a new, global, world wide progressive tax that redistributes income globally. Didn't say how to pull that off though.

The panel of distinguished economists positively referenced Krugman a fair number of times. Wish Obama would.

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Highlight:

Krugman: Worried About Oligarchy? You Ain't Seen Nothing Yet [View all] adirondacker Apr 2014 OP

kick phantom power Apr 2014 #1

K&R nt TBF Apr 2014 #2

I agree Auggie Apr 2014 #3

Went to a free public zentrum Apr 2014 #4

Thanks for the insightful and interesting reply. That is awesome that you were in attendance. adirondacker Apr 2014 #6

^^This Maynar Apr 2014 #10

"Wish Obama would." Enthusiast Apr 2014 #27

The French also had a solution for this problem in 1789 n/t albino65 Apr 2014 #5

Inspired by the solution of the colonists on this continent in 1776. merrily Apr 2014 #7

"Meet the new boss, same as the old boss." Curmudgeoness Apr 2014 #8

the solution is broader based democracy but the problem is sustaining interest in self-government yurbud Apr 2014 #26

I don't think it can work. Curmudgeoness Apr 2014 #29

Oops, thanks. zentrum Apr 2014 #12

I did not mean to step on your post albino65 Apr 2014 #14

Didn't step. It was helpful! n/t zentrum Apr 2014 #25

I think the right way to term it is "Corporate Feudalism" elzenmahn Apr 2014 #9

Lord Clinton? bvar22 Apr 2014 #11

Unfortunately, yes... elzenmahn Apr 2014 #22

You nailed it! gregcrawford Apr 2014 #17

Welcome to DU... elzenmahn Apr 2014 #23

We know this is true ...we have become blue14u Apr 2014 #13

I like the fact that Krugman says we shouldn't give up......unlike many here! LongTomH Apr 2014 #15

Touché! adirondacker Apr 2014 #16

We need to divorce ourselves from the 1% and somehow deprieve them of our support in their economy. Anansi1171 Apr 2014 #18

Wolfpac.com. Publicly funded elections and campaign finance reform should be the ONLY Dustlawyer Apr 2014 #19

Until a groundswell develops... elzenmahn Apr 2014 #24

KNR. n/t DirkGently Apr 2014 #20

THe theme song for this: concreteblue Apr 2014 #21

I was expecting some Bachman Turner Overdrive adirondacker Apr 2014 #28