Tuesday, November 8, 2011

The 1% are the very best destroyers of wealth the world has ever seen

http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2011/11/7/1320695728003/Daniel-Pudles-082011-007.jpgWhat has happened over the past 30 years is the capture of the world's common treasury by a handful of people, assisted by neoliberal policies which were first imposed on rich nations by Margaret Thatcher and Ronald Reagan. I am now going to bombard you with figures. I'm sorry about that, but these numbers need to be tattooed on our minds. Between 1947 and 1979, productivity in the US rose by 119%, while the income of the bottom fifth of the population rose by 122%. But from 1979 to 2009, productivity rose by 80%, while the income of the bottom fifth fell by 4%. In roughly the same period, the income of the top 1% rose by 270%. - More -

No comments: