David Ruccio — In the US since 1949 inequality has increased with each expansion, with most gains going to the 1%

We have to face the fact that capitalism’s crises have become increasingly severe, and the solutions to those crises have increasingly involved redirecting the income gains to a tiny minority at the top. Everyone else is being left behind. Is it any wonder that the current economic system is facing a legitimation crisis?

The ruling elite make both during the boom and in the busts. Such a deal. That's the beauty of capitalism, which by definition prioritizes money and machines over people and the environment. 'Cause its all about growth, which requires capital formation and preservation, right?

Real-World Economics Review Blog
In the US since 1949 inequality has increased with each expansion, with most gains going to the 1%
David Ruccio