By Doug Porter
A new gilded age is upon us, a hundred and forty years or so after the last one. The rich are getting richer. The poor are getting poorer. From the pulpits of the prosperous we’re told the pursuit of the all-mighty dollar is the path of righteousness, even if that path is paved with the misery of the masses.
The mantra for the millennial era is that just a few less regulations and a lot less taxes will set us free, despite all the accrued evidence to the contrary. Whatever criticisms have been leveled at economist Thomas Piketty, nobody has yet to challenge the two centuries of data that prove his point that unfettered capitalism benefits the only very few.
Here were are on Labor Day, the sop set aside to acknowledge the efforts of hard working people, and there is scant acknowledgement in too much of the media that the struggle for economic justice continues. Somehow we’re supposed to to forget history about the excesses of unfettered capitalism and brave souls that stood up against all odds to challenge those seeking to establish an oligarchy.