TCT stands doubly corrected, at least for now:
At the risk of mixing braggadocio with humility, TCT has also consistently argued that not all is hopeless.
This research is exceedingly important. Yet, despite its overall quality and its stratospheric academic origins, it suffers from the de rigueur graphical illiteracy of modern liberalism.
Here is how the authors describe their findings in their own Executive Summary:
Wealth concentration has followed a U-shaped evolution over the last 100 years: It was high in the beginning of the twentieth century, fell from 1929 to 1978, and has continuously increased since then.
Here, meanwhile, is the author’s graph showing the wealth share of the richest 0.1% (one-tenth of one percent) of U.S. households:
“Fell from 1929 to 1978” is an extremely peculiar way of describing the movement of that line over those years. As any child can see, the line has two declines — a minor one from 1968 to 1978, and the only major one from, of course, from 1932 to 1949, years when corporate capitalism was first dying and then under public command. From 1949 to 1968, the line is entirely flat, meaning that the richest 0.1% was maintaining its customary share of (rapidly expanding) wealth.
To conclude, as the authors do, that “there was a substantial democratisation of wealth from the Great Depression to the late 1970s” is profoundly crude, if not intentionally misleading. The supposed golden years of welfare state liberalism were exactly 1949 through 1968. But, as these authors themselves show but cannot acknowledge, wealth was not democratized one iota over that stretch!
The plain fact is that, under corporate capitalism, only systemic crisis and/or public anti-capitalist intervention ever democratize wealth. That simple fact, of course, is publicly unmentionable in our market totalitarian society, organized as it is around the thesis that the rich can never be rich enough.
This won’t last, but I love it:
It reveals not only the forces promoting the form of mass murder known as “the connected car,” but reviews some pretty important research into the interface between technology and brain science. Both these topics speak volumes about the ruinous direction of human culture under corporate capitalism.
To that point, Richtel quotes David Strayer, the ex-GTE engineer turned safety crusader. While still employed by GTE (now Verizon), Strayer discovered proof that cell phone usage by automobile drivers was wildly and obviously dangerous. The reply of his bosses was, Strayer recalls, this:
“Why would we want to know this? That will not help us sell anything.“
Après moi le déluge! is the watchword of every capitalist and of every capitalist nation. Hence, Capital is heedless of the health or length of life of the laborer, unless under compulsion from society.
This isn’t perfect, but it’s well worth a watch:
Oliver is perhaps the only MSM commentator who reports actual analyses of corporate marketing practices.
Had two interactions today that put me on this topic. So:
1. Kalle Lasn = Bill McKibben = Booker T. Washington. Just watch, if we survive.
2. Kudos to “Occupy” for sticking a left moment into the news cycle. Manhattan is perfect for that.
3. Manhattan is the worst, stupidest possible place to try to start a left movement.
4. Detroit is the proper place, and it should be a shadow state, headquartered in the Black House.
5. The Black House should make way better use of allied celebrities than “Occupy” did.