Friday, September 5, 2014

Moyers Talks With Krugman...

... about "What the 1% Don’t Want Us to Know." Here's a sample from Moyers's transcript:
The median pay for the top 100 highest-paid CEOs at America’s publicly traded companies was a handsome $13.9 million in 2013. That’s a 9 percent increase from the previous year, according to a new Equilar pay study for The New York Times.
These types of jumps in executive compensation may have more of an effect on our widening income inequality than previously thought. A new book that’s the talk of academia and the media, Capital in the Twenty-First Century by Thomas Piketty, a 42-year-old who teaches at the Paris School of Economics, shows that two-thirds of America’s increase in income inequality over the past four decades is the result of steep raises given to the country’s highest earners.

Krugman assures us it will get worse. I suppose, with so many local police departments sporting military-style weapons in the streets of cities and towns large and small, the possibility of stopping the onset of oligarchy by threatening a citizen revolt is just about nil. Have a nice day!

ADDENDUM:  while we're speaking of Krugman, here at CUNY TV at the Graduate Center is a splendid hour with Paul Krugman and... fanfare, please... Sen. Elizabeth Warren (D-MA). If the Moyers-Krugman interview above saddened you, angered you or scared you, this one will help restore your reasonable hope for our society.

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