MarketWatch, How to solve inequality and restore the American Dream, recently acknowledged that while productivity has gone up steadily since the late 1970’s wages have flat lined. Numerous reasons were cited for the cause; none of which I have an issue with and then potential reforms were mentioned. These reforms included strengthening minimum wage laws and the safety net.
Folks none of these are going to change rising inequality, though I found it fascinating that tax reform wasn’t mentioned. But it does no good anyway since the people benefiting from widespread inequality run the government, control the courts and the media. The best that could be hoped for was that a temporary bandage could be administered to slow the bleeding. There is only one cure for inequality in America–cooperatives. When workers become owners instead of an expense to be cut back on then we won’t need shareholders and savior CEO’s who come in and dismantle the company. When workers own the company and share equally in its profits then inequality will end and the American Dream will be restored. See my novel Take the Pilgrim Road to see how this could be done.