- The great majority of the population has experienced an unrelenting deterioration in income, benefits and conditions of life.
- What Scott Walker’s Elimination Of Wisconsin’s Living Wage Law Means For Workers
David Walsh, World Socialist Website
Submitted by Evergreene Digest Contributing Editor John Stoltenberg
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12 December 2015 | The implications of the changes in American social life indicated by the findings recently published by the Pew Research Center on the sharp decline in the number of middle-income households are enormous. The data revealed that, by Pew’s definition, middle-income households for the first time no longer constituted the majority of American society.
The figures are remarkable. The share of the national wealth accruing to middle-income households, the study reported, was 43 percent in 2014, down from 62 percent in 1970. The median wealth of middle-income households has fallen by 28 percent over the past decade and a half. The share of income going to upper-income households has risen from 29 percent to 49 percent over the same period.
David Walsh: A full-time socialist journalist for 18 years, arts editor of the World Socialist Web Site since its launch in January 1998. A writer about film, the arts, as well as politics and history.
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What Scott Walker’s Elimination Of Wisconsin’s Living Wage Law Means For Workers, Bryce Covert, Think Progress
- “Prices have gone up, everything has gone up including rent, except the minimum wage,” Lisa Lucas, communications director for Wisconsin Jobs Now, said. And an analysis by her organization found that nearly 47 percent of the state’s workers make less than $15 an hour.
- The Basic Income Movement
Phishing for Phools: The Economics of Manipulation and Deception ~ George A. Akerlof & Robert J. Shiller
Phishing for Phools explores the central role of manipulation and deception in fascinating detail in each of these areas and many more. It thereby explains a paradox: why, at a time when we are better off than ever before in history, all too many of us are leading lives of quiet desperation. At the same time, the book tells stories of individuals who have stood against economic trickery—and how it can be reduced through greater knowledge, reform, and regulation.
Download Phishing for Phools