Now that you know 85 people own more than half the world, here’s what to do about it

January 22, 2014 at 10:51 pm

The media has done a great job covering the 85 people who own more than half the world statistic from the Oxfam report entitled: Working for the Few: Political Capture and Economic Inequality. Media examples herehere, and here.

What I didn’t realize until I read the report was that it has an excellent set of recommendations on how to improve the situation.

Since they’re excellent, the mainstream media seems to have ignored them, and I don’t think Oxfam would mind, here is their series of recommendations.

oxfam-working-for-the-few

The Case for a Working Capitalism

January 8, 2014 at 4:46 pm

I stumbled on the following quote from economist Ha-Joon Chang over the holidays:

Once you realize that trickle-down economics does not work, you will see the excessive tax cuts for the rich as what they are—a simple upward redistribution of income, rather than a way to make all of us richer, as we were told.

Chang’s quote reminds us of the initial promise of supply-side economics, that a rising tide would lift all boats, and the subsequent failure to deliver.

capitalism_01

It also made me think about one of the most powerful conservative frames: redistribution of wealth.

Chang turns the tables on the typical conservative argument and he gave me an idea how to take things a step further.