a little bit of this, a little bit of that, a little more of …

Just another WordPress.com site

Fox Nation (News) – “God Bless Income Disparity”

Via: Think Progress

Polls show that Americans are increasingly concerned with growing income inequality in the country, but conservative news outlets and think tanks are pushing back with their own reports praising the widening gap between the rich and everyone else.

The Heritage Foundation, for instance, argued on their blog that “economic inequality is not necessarily an injustice, but rather a necessary component of any prosperous society.”

Now, Fox Nation, the social media spin off of Fox News, has chimed in with their own story citing one obscure economist: “Economist: God Bless Income Disparity.”

They tweeted the story as simply “God Bless Income Disparity” (‘the Gospel according to Bloomberg’, perhaps?)

http://thinkprogress.org/media/2011/11/17/371173/fox-nation-tweets-god-bless-income-disparity/

.

November 18, 2011 Posted by | Occupy Wall Street, We Are the 99 Percent | , , , , , , | Leave a comment

Joseph Stiglitz – ‘Of the 1%, by the 1%, for the 1%’

Via: Vouge

It’s no use pretending that what has obviously happened has not in fact happened.

The upper 1 percent of Americans are now taking in nearly a quarter of the nation’s income every year.

In terms of wealth rather than income, the top 1 percent control 40 percent. Their lot in life has improved considerably. Twenty-five years ago, the corresponding figures were 12 percent and 33 percent.

One response might be to celebrate the ingenuity and drive that brought good fortune to these people, and to contend that a rising tide lifts all boats. That response would be misguided.

While the top 1 percent have seen their incomes rise 18 percent over the past decade, those in the middle have actually seen their incomes fall. For men with only high-school degrees, the decline has been precipitous—12 percent in the last quarter-century alone. All the growth in recent decades—and more—has gone to those at the top. In terms of income equality, America lags behind any country in the old, ossified Europe that President George W. Bush used to deride.

Among our closest counterparts are Russia with its oligarchs and Iran.

While many of the old centers of inequality in Latin America, such as Brazil, have been striving in recent years, rather successfully, to improve the plight of the poor and reduce gaps in income, America has allowed inequality to grow.

***

This is half the first page of the five page article. You can read the rest, HERE:

http://www.vanityfair.com/society/features/2011/05/top-one-percent-201105?currentPage=all&wpisrc=nl_wonk

===

Via: Columbia News

Columbia University Professor Joseph Stiglitz was awarded the Nobel Prize in Economics on Wednesday (10-10-01) by the Royal Swedish Academy of Sciences.

http://www.columbia.edu/cu/news/01/10/josephStiglitz_nobel_2001.html

August 16, 2011 Posted by | Uncategorized | , , , , , | Leave a comment