The Dow of Inequality: Counting the Casualties of America’s Class War
NOVANEWS
The neoliberal approach to handling a dire economic downturn may soon produce a political crisis, reminiscent of the debt crisis that led to Hitler’s rise 80 years ago. The political class seems to be taking note: the stark inequality reflected in the soaring stock market and shrinking paychecks is unsustainable.
By Jon Jeter
NEW YORK — The revelation that the Dow Jones industrial average and the Standard and Poor’s stock index closed at historic highs this past Thursday afternoon reminded me of an early autumn afternoon a dozen years ago in a glorious San Francisco apartment high in the sky.
The apartment, perched atop a rise in the city’s Russian Hill neighborhood, belonged to one Milton Friedman, the Nobel Prize-winning economist who is widely recognized as the fath...