Wednesday, April 06, 2011

Of the 1%, by the 1%, for the 1%


In the current issue of Vanity Fair, Nobel Prize winning economist Joseph E. Stiglitz writes, in an article entitled "Of the 1%, by the 1%, for the 1%," how the top thin layer of the super rich control 40 percent of all wealth in what is now the most sharply class-divided of all developed nations: "Americans have been watching protests against repressive 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."

A working class hero is something to be
Keep you doped with religion and sex and TV
And you think you’re so clever and classless and free
But you’re still fucking peasants as far as I can see
-- John Lennon

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