Professor Richard Wolff's Economic Update: Global Inequality (audio link)

[marmar]

Listen: http://rdwolff.com/content/economic-update-global-inequality


by Richard Wolff.
Published on January 19, 2014

Updates on Colorado's new marijuana shops, how context exposes "recovery" claims, cause and cure for US obesity epidemic, and France's 75% tax rate on annual incomes over $1.3 million. Major discussions of history and dimensions of global inequality and movements for guaranteed annual incomes in Switzerland and beyond. Responses to questions on credit unions versus private banks and on the uniqueness of the economic crisis in western Europe.

[jwirr]

1. Income inequality is not new. It used to be more between industrial nations and third world nations.

The industrial nations also had a degree of equality within their borders back then. It is the type of inequality we are facing in the US today that is new and a result of pure greed which we export to poorer countries in the form of jobs that do not pay a living wage. That leaves the US with the 1% and the rest of us waiting to see when the ball falls on us.