That this extreme inequality is itself the primary threat to both democracy and social stability is poorly understood.
Scraped of pleasantries, the ultimate purpose of any status quo is to 1) distribute most of the economy’s gains to the top tier and 2) offload the sacrifices this requires to the bottom tiers but in stealthy ways that aren’t noticeable enough to spark political revolt.
The basic stealth mechanisms deployed over the past 50 years to offload the sacrifices on the bottom 90% are:
1) Reduce the share of the national income going to wages so the share going to corporate profits and finance could soar. (see charts below)
2) Place the…
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