One can never have too much money. In the United States, the top one percent of the population rakes in almost a quarter of the national income and enjoys forty percent of the wealth. That privileged class sees this situation as a problem. To be precise, they are not getting enough.
For ordinary workers, the recession brought only economic hardship. But for corporate America, it meant opportunity. It was perceived as the chance to mold the economy permanently into something approximating the Third World model: vast wealth and privilege for those at the top, and unemployment, falling wages, and inadequate or nonexistent social services for the rest of society. Read More »