prophilosophy

Professional philosophy news

More for the 99%

Peter Fosl (Transylvania University) argues that the distribution of wealth and income is unfair, in Louisville’s local paper.

Here are two factoids typical of what I think of as the unacceptable growth in economic inequality we’ve been suffering. First, in 2011 the average CEO in the US company made 231 times that of the average US wage-earner. In 1965, the ration was just 20-1, less than one-tenth as much. Secondly, University of California economist Emmanuel Saez finds that from the period of 1993-2007 the top 1% incomes captured two thirds of the economic growth, while average wages over the past 30 years have been roughly flat.

 

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