We all know most of us have no representation from government and the great land grab of what's left of the money is still going to the super rich and multinational corporations.
Economist Joseph Stiglitz points out these statistics as well as future implications in a Vanity Fair article, of the 1%, by the 1%, for the 1%. Stiglitz overviews the lack of social mobility, the lack of opportunity and how the United States has turned into a glorified feudal kingdom where favors are for kings and lords and most of us are just the serfs, peasants to be viewed as consumers.
Americans have been watching protests against oppressive regimes that concentrate massive wealth in the hands of an elite few. Yet in our own democracy, 1 percent of the people take nearly a quarter of the nation’s income—an inequality even the wealthy will come to regret.
Below is an extended interview with Stiglitz on income inequality, overviewing his Vanity Fair article.
Joseph Stiglitz, part I