From 1947 to 1979, the income of the bottom fifth of Americans rose by 122%. From 1979 to 2009, the income of the top 1% rose by 270% whilst the income of the other 99% remained stagnant.
I am against plutocracy and in favour of democracy.
I am against plutonomy and for a more equitable distribution of income and wealth.
I am NOT against capitalism as such. As China has proved since the late 1970s, capitalism has the power to bring millions out of poverty that Communism lacks. What I am opposed to is the current vogue for neoliberal hypercapitalism which sees virtually all of the fruits of economic growth annexed by the super rich.
Mike's Place 