Monday, October 17, 2011

Some very bad news for America

My Austrian cousin Carol pointed out this great article explaining the the causes of the malaise which underlies the action of the Occupy Wall Street movement. I am pulling out just a couple of the useful graphs and tables it provides:

The United States ranked 93rd in this U.S. data on income equality, under Egypt, India, China and Russia as well as far behind the northern European countries. When the small upper class is to economically distant from the rest of the nation they are unlikely to care enough about those who do the work, who fight the wars, and who have as little effective political power as economic power.

The United States used to be the land of opportunity. Since World War II, the lower and middle classes have less and less likelihood of moving upward. So too, the upper classes have less and less likelihood of losing status. Class has become more hereditary and less a matter of ones efforts and intelligence. Not good for the country as a whole.

No comments: