Or at least it all starts with the Reagan administration.
This is not Karl Rove’s fault. This is the result of nearly three decades of indoctrination in anti-social, anti-democratic and economically fallacious absurdities by almost every major instructional institution in the country including Harvard, and the PBS News Hour. Listening to the post crash coverage I heard words I had not found in the media for years, words like FDR, New Deal, government intervention and Keynes. Where had these phrases been all this time? Why was it only now respectable to mention Franklin Roosevelt again?
And why has the media and academia given so much encouragement to the myth of free markets while ignoring real things that have gotten worse since Reagan took office? Things like:
– Minimum wage as % of average wage
– Real income
– Real income bottom 60% of Americans
– Bottom 99% share of total income
– Income gap between rich and poor
– Workers pay as a percent of CEO pay
– Older families covered by pensions
– Workers covered by defined benefit pensions
– Annual personal savings rate of families
– Elder bankruptcies
– Housing foreclosures
– Child poverty rate
– Severe poverty rate
– Percent of Americans employed
– Pensions that include health care benefits
– Number of families without health insurance
– Number of public hospitals
– Number of corporations controlling most media
– Student loan debt
– Increase in wealth of wealthiest ten senators (up 13 times)
– Percent of workforce unionized
And don’t forget Reagan’s quiet declaration of martial law.
(via Robot Wisdom)
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