Robert Reich, a visiting professor at the UC Berkeley’s Goldman School of Public Policy and former U.S. Secretary of Labor talks about the inequality of income, wealth and opportunity in the U.S. He asks his audience to speculate on what will happen if these trends continue.
This article was originally posted on Robert Reich’s blog at http://robertreich.org/
Income inequality is fundamentally rooted in concentrated ownership of the non-human means of production––productive capital.
Until we, as a nation, understand that it is the lack of ownership of the means of production that is the basic economic problem for most Americans, we will constantly see an eroding of wages, the destruction of jobs, and increasing demand on the part of the people that the State do more and more for them. For the vast majority of Americans, their only source of income is wages, government welfare support or charity.
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