First, let’s start with some statistics: Over the last 30 to 40 years, every major statistical measure of income inequality in the United States has increased significantly, now approaching the same extreme levels as prevailed before the Great Depression. If you visit inequality.org, the charts speak for themselves.
Over the last third of a century, the income share for the top 1 percent has doubled while the poverty rate has remained the same. The richest Americans have experienced the fastest income growth while middle class incomes have stagnated (imagine if middle class incomes had doubled and what that would mean for home ownership). From 1979 to 2017, worker productivity has increased by 138 percent while worker hourly compensation has increased by only 23 percent. The difference in wealth creation has gone to the top. In 1965, CEOs made 24 times the wages of the average production worker; in 2019, they made 185 times the average salary.
Continue reading “The Case for Progressive Capitalism: A Review of People, Power, and Profits by Joseph Stiglitz”
In The Ideas That Made America, Jennifer Ratner-Rosenhagen provides a brief intellectual history of the United States from the first European contact to the present day, focusing on the movement of ideas across national and local borders and across time. Recognizing that new ideas are always dependent on the intellectual work of those who came before, Rosenhagen includes many of the European ideas that had a major impact on American intellectual life.
To summarize centuries of intellectual work in a short book of 180 pages is no easy task, but Rosenhagen does a reasonable job of presenting the major intellectual currents of each period. It’s well worth reading to get a high-level view of where our current ideas and conflicts originated.
Continue reading “Review of The Ideas That Made America: A Brief History”
In an age of political polarization, Jill Lepore reminds us, in her latest release These Truths: A History of the United States, that there has never been an age without political polarization. The faintest familiarity with United States history should convince you that political conflict has deep roots.
Some examples: the revolutionaries and loyalists fought vigorously over the issue of independence during the Revolutionary War; the Federalists and Anti-Federalists fought over federal versus state rights; the Mexican-American War was vigorously defended and opposed, as was the Indian removal policy, during the presidency of Andrew Jackson; proslavery and antislavery advocates fought intensely over whether new states should be admitted as free states or slave states; business has battled against labor since the 19th century; and the equality of races and sexes was vehemently defended and opposed for virtually all of US history.
Continue reading “Review of These Truths: A History of the United States by Jill Lepore”