Some of America’s leading news analysts are beginning to recognize the fallacy of the “free market.”
First of all, who are they? Mostly the 1%. But the top 2-5% have also done quite well, increasing their inflation-adjusted wealth by 75 percent from 1983 to 2009 while average wealth went down for 80 percent of American households.
Are political and corporate leaders even remotely aware of the conditions of society beneath the wealthiest 10% or so?
Every clear-thinking American knows that education and jobs are needed more than armed guards in poor neighborhoods.
Free-market libertarians go to outrageous extremes to convince themselves and others of the infallibility of the market. Even when opposing evidence smacks them in the face, they conjure up sound bites that seem vaguely convincing but are in reality meaningless.
Congress and others who apparently don’t study the facts, believe that Social Security is a government handout. But ‘entitlement’ means that people who have paid into a program all their lives are entitled to a reasonable return on their investment.
As they accumulate more and more wealth, the very rich have less need for society. At the same time, they’ve convinced themselves that they made it on their own, and that contributing to societal needs is unfair to them.
The process is gradual, insidious, lethal. It starts with financial stress in various forms, and then, according to growing evidence, leads to health problems and shorter lives.
We already pay dearly for energy, medicine, banking, and telecommunications services. But a little research reveals that we’re paying more—much more—in a variety of ways that our business-friendly mainstream media won’t talk about.
Tax-avoiding, consumer-exploiting big business leaders are largely responsible for these abuses. Congress just lets it happen.