Category Archives: Wealth and Income Inequality

The academic economics profession ought to have been most intimately involved in analyzing and debating a broken capitalist system whose deep crisis had confounded all its confident expectations. It has done nothing of the sort. Instead it proceeds as if … Continue reading →

Fairness requires that people who make more money pay a higher portion of their incomes in taxes than people with less money. That’s called a progressive tax system, and it’s been a foundation stone of America’s tax code. [1] – Robert … Continue reading →

We scarcely have time to congratulate ourselves on [the victory of market economics over socialism] before confronting failures like the growing concentration of economic power, growing inequality of income and especially wealth, stagnant or falling real wage rates, homelessness and … Continue reading →

The Growth of U.S. Income Inequality The United States has the highest level of income inequality among wealthy nations, and the highest level of correlated health and social problems, both by wide margins. [1] This status was achieved by the … Continue reading →

The outstanding faults of the economic society in which we live are its failure to provide for full employment and its arbitrary and inequitable distribution of wealth and incomes. – John Maynard Keynes [1]    It was late in 2010 … Continue reading →

Introduction John Maynard Keynes ended the preface to his monumental opus, The General Theory of Employment, Interest and Money, with this unusual confession: The composition of this book has been . . . a struggle of escape from habitual modes of thought … Continue reading →

(Return to the Contents Topics page.) (Pixie by Dawny Dawn) The “science” of economics today is not merely and institutionalized form of neo-feudal philosophy, nor is it merely an ideology of darkness that erects institutions to promote more darkness. It has become a … Continue reading →

(Return to the Contents Topics page.) (Illustration from “Study: As Income Inequality Grows, Middle Class Areas Shrink,” The Liberal Curmudgeon, November 20, 2011, here.) In America today, we have the most unequal distribution of wealth and income of any major country on earth, and more … Continue reading →

(Return to the Contents Topics page.) (Illustration found at “‘Fiscal Cliff’ = Economic Blackmail?” by Bombshell Betty, Palomino Road, here) The outstanding faults of the economic society in which we live are its failure to provide for full employment and its arbitrary and inequitable distribution … Continue reading →