This is why Mr Obama calling inequality the “defining issue of our time” has moral resonance. It has nothing to do with the rabble envying Sub-Zero refrigerators. It is not about the iPhone/cheapo-cell phone gap. Inequality is problematic not because it makes some people jealous of others but because it effectively locks millions of people out of opportunities to improve their lives. Ms Anderson put it well: “To live in a low-crime, orderly, unpolluted neighborhood, free of run-down and abandoned property, graffiti-marred buildings, open drug dealing, prostitution, and gangs; to have access to public parks where one’s children can safely play, to well-maintained sidewalks and roads, to schools that offer an education good enough to qualify one for more than menial, dead-end jobs: how many cell phones and athletic shoes is that worth?”
In The Economist. Go figure.
… every group finds itself facing criticism, and ends up on the losing side of policy disputes, somewhere along the way; that’s democracy. The question is what happens next. Normal people take it in stride; even if they’re angry and bitter over political setbacks, they don’t cry persecution, compare their critics to Nazis and insist that the world revolves around their hurt feelings. But the rich are different from you and me.
@NYTimesKrugman hits it out of the park. Why don’t we have a guy like this up here?
Ed Miliband's biggest challenge will be to convice a fatalistic electorate that government can change things | Left Foot Forward
Forget Russell Brand and pay attention to this. H/t the indispensible Alex Himelfarb.
Video: Russell Brand on environmental destruction, income disparity, and why voting isn’t helping.
<strikethrough>He kicks ass.</strikethrough>
Update: My bad for not following celebrity shenanigans more closely, but evidently Russell Brand is a bit of a dick. This complicates things. Being a dick doesn’t invalidate his argument, but by the same token, the validity of his argument doesn’t excuse him being a dick.
In 2007 a hedge fund manager (John Paulson) made $3.7 billion by conspiring with Goldman Sachs to create packages of risky subprime mortgages, so that in anticipation of a housing crash he could use other people’s money to bet against his personally designed sure-to-fail financial instruments.
Why are these pieces of shit not hanging from lampposts?
A recent UNICEF report ranked Canada 17th out of 29 advanced economy countries for child well-being.
But hey, I’m sure we’ll see an Action Plan(TM) for this Any Day now.