August 20, 2012
Take the poll and add your two cents. Here’s mine:
How about limited global competition? There are plenty of smart people in China and India who could train to U.S. standards and would be delighted to work as doctors or lawyers in the U.S. at $100k a year. That would reduce inequality.
How about a change in norms among corporate board members who essentially get paid off to let the CEOs pilfer the company? It’s their job to restrain CEO pay. They don’t do it.
How about stronger patent and copyright protection. We spend $300 billion a year on prescription drugs that would sell for $30 billion in a free market. Those patent rents don’t go to people in the bottom 99 percent for the most part.
Deregulation is far too generous a term for the financial industry? If they had actual deregulation, meaning a lack of government involvement, most of Wall Street would be bankrupt right now. In fact, they have too-big-to-fail insurance which is provided free by the taxpayers.
Inequality is not something that just happened. Inequality was engineered by the folks who have power.
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