By Les Leopold
Runaway inequality is now America’s most important financial truth of existence. In 1970, the ratio of pay among the head a hundred CEOs and the typical employee was once forty five to one. this day it's a surprising 829 to at least one! in the course of that point a brand new financial philosophy set in that lower taxes, deregulated finance, and trimmed social spending. these rules set in movement a approach that enormously improved the facility of monetary pursuits to speed up inequality. yet how precisely does that happen?
Using easy-to-understand charts and graphs, Runaway Inequality explains the method through which company after company falls sufferer to systematic wealth extraction by way of banks, deepest fairness enterprises, and hedge cash. It unearths how monetary strip-mining places huge, immense downward strain on jobs, wages, advantages, and dealing stipulations, whereas boosting the earning of monetary elites.
But Runaway Inequality does greater than make feel of our fiscal plight. It additionally indicates why almost the entire key matters that we face―from weather swap to the exploding felony population―are in detail attached to emerging financial inequality.
Most importantly, Runaway Inequality calls upon us to construct a typical stream to take on the resources of accelerating source of revenue and wealth inequality. because the writer makes transparent, the matter won't healing itself. it is going to take huge, immense strength and commitment to carry financial justice and equity again to American society.
The e-book is split into 4 parts:
- Part I: what's the basic reason for runaway monetary inequality? What has made our economic system much less reasonable and left such a lot people much less secure?
- Part II: How does the us particularly evaluate with different significant built countries? How will we stack up on caliber of lifestyles, health and wellbeing, and well-being?
- Part III: What does fiscal inequality need to do with such a lot of of the severe matters we are facing, together with taxes, debt, schooling, legal justice, racism, weather swap, overseas exchange, and war?
- Part IV: What concrete steps will we take to start construction a good and simply society?
From the booklet: “There is not anything within the fiscal universe that would immediately rescue us from runaway inequality. there isn't any pendulum, no invisible political strength that ‘naturally’ will swing again in the direction of financial equity. both we salary a large-scale conflict for fiscal, social, and environmental justice, or we are going to witness the ongoing deterioration of the realm we inhabit. The arc of capitalism doesn't bend in the direction of justice. We needs to bend it.”