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The Rise of the Super-Rich Is a Global Phenomenon: Chrystia Freeland

Discussion in 'International Forum' started by E=mcsquared, Oct 17, 2012.

  1. E=mcsquared

    E=mcsquared JF-Expert Member

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    Oct 17, 2012
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    The growing gap between the top 1% and the rest of the U.S. population has emerged as a major issue in this year's presidential campaign, but it's not likely to narrow much no matter who wins, says Chrystia Freeland, author of the new book "Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else."



    As the title suggests, "the increase in income inequality" in the U.S. is not just a domestic development but "is happening in all Western industrialized countries," Freeland tells The Daily Ticker in the accompanying interview. "And crucially you're seeing the same phenomenon in the big emerging market economies."


    Related: The Betrayal of the American Dream
    Freeland says globalization is at the root of income inequality around the world. Both capital and labor are global therefore businesses leaders must maintain a global perspective, says Freeland.


    "Inevitably that means the super-elite see themselves as citizens of planet earth" rather than as a citizen of their home country, which means they are less concerned with the health of the middle class in the U.S. or any other country they call home.
    In the U.S. the gap between the very rich and everyone else "is wider than at any time since the gilded age," says Freeland.
    Between 1979 and 2007, the top 1 percent of earners more than doubled their share of the nation's income over the previous three decades, according to the Congressional Budget Office report last year.


    Related: The Middle Class is Broke: Pew Study Reveals Real Problem With Economy
    More recently, the Census Bureau reported that annual income between 2010 and 2011 increased 4.9% for the top 5% but fell for the middle class and held steady for the poorest.


    The average household income in 2011 after inflation was $50,054 - 1.5% lower than the 2010 average and 8.9% lower than a 1999 peak.


    President Obama has said he wants more economic fairness and favors higher tax rates for only the wealthiest Americans. He's proposed extending the Bush-era tax cuts for all but those earning more than $250,000. He also favors the "Buffett rule," named for billionaire investor Warren Buffett, which would set a minimum 30% tax rate on income of $1 million or more.


    Related: Lost Middle-Class Jobs Being Replaced by Buerger-Flipping and Retail Gigs: NELP Study
    Mitt Romney, in contrast, has proposed extending the Bush-era tax cuts for everyone plus a 20% income tax cut across the board along with the closing of tax loopholes and spending cuts. He believes in the tenants of supply side economics - lower taxes will lead to stronger growth and benefit all Americans.


    Freeland says if the president is serious about helping the American middle class, he needs "to connect the dots between his domestic and foreign policy in a new way" and possibly work with other Western industrialized economies which are experiencing the same "hollowing out of the middle class."


    As for the plutocrats, Freeland says if they confuse their own self-interest with the common good, they threaten the very system that created them.

    Source: http://finance.yahoo.com/blogs/daily-ticker/rise-super-rich-global-phenomenon-chrystia-freeland-123053176.html
     
  2. n

    newazz JF-Expert Member

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    Oct 17, 2012
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    Self shall not discuss, economical jargons , reasons etc. But discuss what is called middle class.

    Middle class is nothing, but modern slaves for the super rich. For many years, American or citizens in so called developed countries were under illusion of chasing American dream, you can be your own boss. This was a carrot and sticks ploy, while the real power and control is with the super rich.

    Its a big lie, all over the world and finally middle class at least recognizes it is always being used by super rich to achieve objectives of the haves.

    Think for instance, what is the difference between person employed and a machine at same factory? the wages is receiving only suffices to pay for food and rent? There no difference for such a worker with a machine at the factory. Machine is being serviced to ensure it can produce, but at the end of the day , machines do not own anything no matter efficiency and reliability of the machine.

    Same the rich are paying only a fraction, to enable middle class to survive and come to work next day. What is the end of this cycle.

    Middle class has to liberate itself and form alliance to support each other economically, business to business and create their own employment and refrain from business models of the super rich, which aims to symphoning anything from the middle class.

    Middle class should start to educate themselves and pursue self identity and stop playing second fiddle to the riches.why all these lusts for the products, services etc which only ends up enriching the super rich? and middle class always complaining not having enough money. How can the middle class have any money, while all it does is to fast enrich super rich through different carrots and sticks ploys.

    Super rich knows, only way to get back any money from the middle class is through devising unwanted products, services, which in essence do not add up to economies of middle class but only take from them and leaving them dry.

    What is happening in America, Europe is quickly happening in Tanzania. See the throngs of people consuming what ,they do not need , only going after lust of the flesh??? Rightfully, when you argue like that, people say, it is my lifestyle and I can afford. But watch them ,at end of the day, you will find them complaining and crying super rich are getting rich. But who is making them rich? Remember, if you are making someone rich, by same token you are making yourself poor and loose any sense of class identity.
     
  3. E=mcsquared

    E=mcsquared JF-Expert Member

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    Newazz,
    Kwa hiyo tusiokuwa nacho tayari tumeshafanywa watumwa siku nyingi bila sisi kujijua, si ndiyo? Kipya kimyeni ingawa kidonda,.... "MODERN SLAVERY",... ambayo mimi nadhani ni mbaya kuliko ule utumwa wa awali, sababu by then hatukuwa na brains za kuweza kutackle issue kama leo,.... lakini leo je, tuko vipi? Halafu ndiyo tena tutawaliwe, tena kwa kulazimishwa pasipo mapenzi yetu sisi? Zamani kuna watu walikuwa wanapenda kutawaliwa, zama za ule utumwa wa mwanzo.

    Dumia sasa hivi ni kijiji, pengine atakuja kutokea super power wa uchumi atawale dunia nzima pia kisiasa, na katiba itatengenezwa kwamba whoever becomes super power economically, atatawala dunia na wengine wote mtakuwa chini yake muki-salute!
     
  4. n

    newazz JF-Expert Member

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    Oct 17, 2012
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    Nimesikiliza BCC, walikuwa wanaeleza habari ya mfanya kazi mmoja, ambaye awali alipoteza kila kitu lakini sasa amepata kazi kwenye mradi mmoja. Anadai angalau kazi hii mpya anapata mshahara anapata chakula na wamempa nyumba kwenye eneo la kazi hapo hapo.
    Nikajiuliza, matumaini ya huyu mtu yako wapi? Inamaanisha, hana tofauti na awali , ila angalau ana mtu anampa mshahara. Lakini, hatimaye ni habari ileile, kazi moja inaisha unaingia katika kutafuta kazi nyingine kurudi pale pale.

    Huu ni utumwa wa kistaraabu na kwa vile mtu anakuwa halitambui hilo. Ndio maana unaona mtu anaishi maisha yote, bila ya lolote la maana kuonyesha juu ya maisha yake.

    Kwa nini imekuwa hivyo? Watu wanapenda ajira, bila kutambua wanajikuta wanatumikia kusudi la wengine, hivyo anakumiliki na anatumia kivutio cha mshahara kukuweka mahali pamoja. Halafu , kwa ujumla wao wanatumia vivutio, vingine kunyang'anya mshahara wanaotoa.

    Nilisoma kitabu cha pepo ya mabwege ( H. Mwakyembe) aliyoeleza, ndiyo haya yanayotokea Tanzania na kwingineko duniani.

    Basi mtu atauliza kama ni hivyo basi nani ataajiriwa ? Jibu la swali hilo lipo kwenye kitabu " Richest Man in Babylon) kuna mtumwa alijikuta kawa mtumwa kwa ulafi wa mke wake na wa kwake mwenyewe. Lakini alipopata nafasi, aliulizwa na mke wa slave master wake, Je wewe ni mtumwa, wenye roho ya mtu huru? Kama ndivyo utatoka katika utumwa huu, utakimbia na kurudi kwenu, ulipe madeni yako na uiendee hatima yako. Alifanya hivyo....

    Je watu wanataka kweli kuwa huru, au wanapenda kuwa watumwa kwa utamu na mapochopocho kutoka kwenye meza ya slave master. Jibu la swali hilo, utaliona katika maisha ya watu kila siku popote pale unapoenda, iwe USA, London au Sekenke au Dar es Salaam
     
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