By themselves, strong growth and low unemployment cannot wash away social divisions, any more than they can empower labor enough to substantively increase wages, to say nothing of raising the labor share of national income. The left must not be cowed into a narrow politics of income inequality and redistribution; it must look further, toward democratic control of capital itself.
Regulation is just a temporary band-aid, it doesn’t get to the root of the problem. Disparity will continue to rise and Capitalism will continue to centralize, with power in fewer and fewer hands, until it inevitably collapses.
Regulation is just a temporary band-aid, it doesn’t get to the root of the problem. Disparity will continue to rise and Capitalism will continue to centralize, with power in fewer and fewer hands, until it inevitably collapses.