Americans have been watching protests against oppressive regimes that concentrate massive wealth in the hands of an elite few. Yet in our own democracy, 1 percent of the people take nearly a quarter of the nation’s income—an inequality even the wealthy will come to regret.
By Joseph E. Stiglitz Illustration by Stephen Doyle
The justification they came up with was called “marginal-productivity theory.” In a nutshell, this theory associated higher incomes with higher productivity and a greater contribution to society.
It is a theory that has always been cherished by the rich. Evidence for its validity, however, remains thin.
http://www.vanityfair.com/society/features/2011/05/top-one-percent-201105
I beg to differ , Contribute what exactly???? As far as I can see they contributed to acquiring the biggest chunk of the working mans wealth. Been a long planned, plan, that is coming to a head soonnnnnnnnn. LOL HEY , I can hope.
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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