The Myth of The "American Dream"

[Marxist]

It has become increasingly difficult forAmericans to climb the economic ladder, says Joseph Stiglitz, a Nobel-prize winning economist.
The U.S. has one of the highest levels of income inequality among its peers and is among the worst in offering equal opportunitiesfor advancement, said Stiglitz, who spoke Tuesday in New York City. Whether an American gets ahead is also more dependent on the income and education of their parents, he said.


"The American Dream is a myth," said Stiglitz.

A left-leaning authority on income inequality who teaches at Columbia University, Stiglitz is on a publicity tour for his new book, The Great Divide, which is a compilation of his articles on unequal societies for the New York Times, Vanity Fair andother publications.

His timing couldn't be better. Income inequality and economic mobility have already emerged as hot topics for the 2016 presidential election, with candidates on both sides of the aisle offering their prescriptions for solving the growing income gap. Stiglitz is one of several economists who has spoken with Democratic presidential hopeful Hillary Clinton on these issues.


Stiglitz argued that income inequality in America is not just the result of market forces, but also politics and policies put in place by lawmakers and companies, particularly after Ronald Reagan's election in 1980.

He noted that the post-World War II era was prosperous for both the American economy and its workers. But since then wages have stagnated, with median income falling to where it was 40 years ago. Meanwhile, CEO pay has risen to 300 times the average worker's income, up from 30 times. He also said that minimum wage jobs are increasingly held by a family's primary breadwinner, instead of a teen looking for part-time work.

According to Stiglitz, there's no magic bullet to solving income inequality. One way to combat it, he said, is to lessen the monopolist power of companies, which leads to lower wages.

Not surprising.

 

[Ringel05]

Yet he's pro capitalist.
He believes the primary problem with our current system isn't capitalism it's an unfair tax code that favors the wealthy and punishes the middle class.

 

[Marxist]

Yet he's pro capitalist.
He believes the primary problem with our current system isn't capitalism it's an unfair tax code that favors the wealthy and punishes the middle class.

Ok? Doesn't change anything about the writing.

 

[Ringel05]

Yet he's pro capitalist.
He believes the primary problem with our current system isn't capitalism it's an unfair tax code that favors the wealthy and punishes the middle class.

Ok? Doesn't change anything about the writing.

Never said it did but one also has to remember that the economy hasn't really recovered yet (despite what some claim) and if it eventually (fully) recovers much of that he's writing about will disappear. Heck, the really good economists predicted this last recession would last 10 years, it's not 2018 yet.......... Oh there'll still be inequality but that would be the case regardless of what economic political and system was in place.

 

[Marxist]

Yet he's pro capitalist.
He believes the primary problem with our current system isn't capitalism it's an unfair tax code that favors the wealthy and punishes the middle class.

Ok? Doesn't change anything about the writing.

Never said it did but one also has to remember that the economy hasn't really recovered yet (despite what some claim) and if it eventually (fully) recovers much of that he's writing about will disappear. Heck, the really good economists predicted this last recession would last 10 years, it's not 2018 yet.......... Oh there'll still be inequality but that would be the case regardless of what economic political and system was in place.

Yeah, alright. Good luck getting it to "recover" the capitalist system is collapsing in on itself. It's insane inequality, yes, inequality will exist, but it's unreal under capitalism

 

[CrusaderFrank]

I thought Unemployment and food stamps drove the Obama economy

 

[Marxist]

I thought Unemployment and food stamps drove the Obama economy

 

[jwoodie]

The Myth of Income Inequality: Expect the same rewards even if you
1. Don't finish school;
2. Take drugs;
3. Have children out of wedlock; and
4. Resent having to work for "the Man."

 

[Not2BSubjugated]

Fuck income equality, I want it all, and I've got the brain and the confidence to go get it, just stay the fuck out of my way.

Sorry if you don't feel the same, but your fear of freedom isn't really my concern.

 

[Ringel05]

Yet he's pro capitalist.
He believes the primary problem with our current system isn't capitalism it's an unfair tax code that favors the wealthy and punishes the middle class.

Ok? Doesn't change anything about the writing.

Never said it did but one also has to remember that the economy hasn't really recovered yet (despite what some claim) and if it eventually (fully) recovers much of that he's writing about will disappear. Heck, the really good economists predicted this last recession would last 10 years, it's not 2018 yet.......... Oh there'll still be inequality but that would be the case regardless of what economic political and system was in place.

Yeah, alright. Good luck getting it to "recover" the capitalist system is collapsing in on itself. It's insane inequality, yes, inequality will exist, but it's unreal under capitalism

Not really but you're entitled to you fantasies. Now I would agree with you that our current capitalist system is collapsing due to what I'm mentioned before in your into thread, doesn't mean it can't be fixed, at least temporarily before the next great recession/repression hits, no economic system is immune to that.

 

[Marxist]

The Myth of Income Inequality: Expect the same rewards even if you
1. Don't finish school;
2. Take drugs;
3. Have children out of wedlock; and
4. Resent having to work for "the Man."

What a ignorant post not at all based in reality.

 

[Marxist]

Yet he's pro capitalist.
He believes the primary problem with our current system isn't capitalism it's an unfair tax code that favors the wealthy and punishes the middle class.

Ok? Doesn't change anything about the writing.

Never said it did but one also has to remember that the economy hasn't really recovered yet (despite what some claim) and if it eventually (fully) recovers much of that he's writing about will disappear. Heck, the really good economists predicted this last recession would last 10 years, it's not 2018 yet.......... Oh there'll still be inequality but that would be the case regardless of what economic political and system was in place.

Yeah, alright. Good luck getting it to "recover" the capitalist system is collapsing in on itself. It's insane inequality, yes, inequality will exist, but it's unreal under capitalism

Not really but you're entitled to you fantasies. Now I would agree with you that our current capitalist system is collapsing due to what I'm mentioned before in your into thread, doesn't mean it can't be fixed, at least temporarily before the next great recession/repression hits, no economic system is immune to that.

It's a fact, look through history.

 

[Dragonlady]

The Myth of Income Inequality: Expect the same rewards even if you
1. Don't finish school;
2. Take drugs;
3. Have children out of wedlock; and
4. Resent having to work for "the Man."

You hit the nail on the head. All of your points are myths.

The American worker has the highest GDP in the world, and are among the best educated. Yet their wages, in real terms, continue to decline.

 

[Ringel05]

Yet he's pro capitalist.
He believes the primary problem with our current system isn't capitalism it's an unfair tax code that favors the wealthy and punishes the middle class.

Ok? Doesn't change anything about the writing.

Never said it did but one also has to remember that the economy hasn't really recovered yet (despite what some claim) and if it eventually (fully) recovers much of that he's writing about will disappear. Heck, the really good economists predicted this last recession would last 10 years, it's not 2018 yet.......... Oh there'll still be inequality but that would be the case regardless of what economic political and system was in place.

Yeah, alright. Good luck getting it to "recover" the capitalist system is collapsing in on itself. It's insane inequality, yes, inequality will exist, but it's unreal under capitalism

Not really but you're entitled to you fantasies. Now I would agree with you that our current capitalist system is collapsing due to what I'm mentioned before in your into thread, doesn't mean it can't be fixed, at least temporarily before the next great recession/repression hits, no economic system is immune to that.

It's a fact, look through history.

History is part of my background as is sociology, psychology, biology and anthropology. Unlike some folks I don't cherry pick my facts to fit my bias.........

 

[Ringel05]

The Myth of Income Inequality: Expect the same rewards even if you
1. Don't finish school;
2. Take drugs;
3. Have children out of wedlock; and
4. Resent having to work for "the Man."

What a ignorant post not at all based in reality.

Yet you believe in an theoretically perfect political economic system that history has taught us can never exist as envisioned....... Still tilting at windmills I see..........

 

[Marxist]

Ok? Doesn't change anything about the writing.

Never said it did but one also has to remember that the economy hasn't really recovered yet (despite what some claim) and if it eventually (fully) recovers much of that he's writing about will disappear. Heck, the really good economists predicted this last recession would last 10 years, it's not 2018 yet.......... Oh there'll still be inequality but that would be the case regardless of what economic political and system was in place.

Yeah, alright. Good luck getting it to "recover" the capitalist system is collapsing in on itself. It's insane inequality, yes, inequality will exist, but it's unreal under capitalism

Not really but you're entitled to you fantasies. Now I would agree with you that our current capitalist system is collapsing due to what I'm mentioned before in your into thread, doesn't mean it can't be fixed, at least temporarily before the next great recession/repression hits, no economic system is immune to that.

It's a fact, look through history.

History is part of my background as is sociology, psychology, biology and anthropology. Unlike some folks I don't cherry pick my facts to fit my bias.........

Then you would know capitalism inheritenly creates and relies on a wealth divide.

 

[Marxist]

The Myth of Income Inequality: Expect the same rewards even if you
1. Don't finish school;
2. Take drugs;
3. Have children out of wedlock; and
4. Resent having to work for "the Man."

What a ignorant post not at all based in reality.

Yet you believe in an theoretically perfect political economic system that history has taught us can never exist as envisioned....... Still tilting at windmills I see..........

Never said it was perfect.

 

[Ringel05]

The Myth of Income Inequality: Expect the same rewards even if you
1. Don't finish school;
2. Take drugs;
3. Have children out of wedlock; and
4. Resent having to work for "the Man."

What a ignorant post not at all based in reality.

Yet you believe in an theoretically perfect political economic system that history has taught us can never exist as envisioned....... Still tilting at windmills I see..........

Never said it was perfect.

No but you seem to think it's better when history has shown it's either worse or just as bad and more easily corrupted.

 

[Ringel05]

Never said it did but one also has to remember that the economy hasn't really recovered yet (despite what some claim) and if it eventually (fully) recovers much of that he's writing about will disappear. Heck, the really good economists predicted this last recession would last 10 years, it's not 2018 yet.......... Oh there'll still be inequality but that would be the case regardless of what economic political and system was in place.

Yeah, alright. Good luck getting it to "recover" the capitalist system is collapsing in on itself. It's insane inequality, yes, inequality will exist, but it's unreal under capitalism

Not really but you're entitled to you fantasies. Now I would agree with you that our current capitalist system is collapsing due to what I'm mentioned before in your into thread, doesn't mean it can't be fixed, at least temporarily before the next great recession/repression hits, no economic system is immune to that.

It's a fact, look through history.

History is part of my background as is sociology, psychology, biology and anthropology. Unlike some folks I don't cherry pick my facts to fit my bias.........

Then you would know capitalism inheritenly creates and relies on a wealth divide.

What doesn't? It's human nature, pretty much the same as you'd see in your sociopolitical ideal......... If you tell me no you're lying to yourself and or me, ya see I'm a realist who understands human nature and again, your ideal will never work here, not without killing off at least half of the population first and even then you'll miss quite a few who will quickly corrupt your ideal.