Capitalism and Worldwide Inequality
by Conrad Schuhler and Thomas Fromm, 2018
Thomas Piketty’s motto “Inequality is always a problem when it is excessive” introduces the new World Inequality Report. The inequalities of income and wealth swell globally and in individual regions and nations. The top 1% of income earners worldwide profited twice as much from growth since 1980 than the lower 50% of the world population.
We Will Have to Face the Consequences of Donald Trump Getting His Hands on the Economy
by Nomi Prins, Aug 2, 2018 commondreams.org
Subsidizing farmers isn’t in itself necessarily a bad thing. It is, in fact, very New Deal-ish and Franklin Delano Roosevelt-esque. But doing so to fix an unnecessary problem? Under such circumstances, where will it stop? When those $200 billion or $500 billion in tariffs on China (or other countries) inflames the situation further, who gets aid next? Auto workers? Steel workers?
What we are witnessing is the start of the entropy wars, which will, in turn, hasten the unwinding of the American global experiment. Each arbitrary bit of presidential pique, each tweet and insult, is a predecessor to yet more possible economic upheavals and displacements, ever messier and harder to clean up. Trump’s America could easily morph into a worldwide catch-22. The more trust is destabilized, the greater the economic distress. The weaker the economy, the more disruptable it becomes by the Great Disrupter himself. And so the Trump spiral spins onward, circling down an economic drain of his own making.