Sunday, 3 April 2011

Of the 1%, By the 1%, For the 1%

Joseph Stiglitz, Vanity Fair
THE FAT AND THE FURIOUS The top 1 percent may have the best houses, educations, and lifestyles, says the author, but "their fate is bound up with how the other 99 percent live."It's no use pretending that what has obviously happened has not in fact happened. The upper 1 percent of Americans are now taking in nearly a quarter of the nation's income every year. In terms of wealth rather than income, the top 1 percent control 40 percent. Their lot in life has improved considerably. Twenty-five years ago, the corresponding figures were 12 percent and 33 percent. One...

Source: http://www.realclearpolitics.com/2011/04/02/of_the_1_by_the_1_for_the_1_253119.html

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