A few days ago, Bill Moyers on his show hosted Paul Krugman. The topic was inequality and particularly the best selling nonfiction book by Thomas Piketty, Capital in the Twenty-First Century. Part of the transcript is here:
From the Moyers web site:
Here’s one of its extraordinary insights: we are heading into a future dominated by inherited wealth as capital concentrates in fewer and fewer hands, giving the very rich ever greater power over politics, government, and society. “Patrimonial capitalism” is the name for it, and it has potentially terrifying consequences for democracy. For those who work for a living, the level of inequality in the US, writes Piketty, is “probably higher than in any other society, at any time in the past, anywhere in the world.” Over three decades, between 1977 and 2007, 60 percent of our national income went to the richest 1 percent of Americans. No wonder this is the one book the 1 percent doesn't want the other 99 percent to read.
So, let's all thumb our collective nose at the American oligarchs and read the book.