In reply to:

- Wealth continues to concentrate in the hands of the few even as an illusion of increasing middle-class prosperiity has convinced some to the contrary.



I won't dispute that wealth continues to concentrate (particularly without reading
the book you refer to). I am also familiar with the statistics about the ratio of
top executive pay to "line-worker" pay increasing tremendously from 1970 to
present. Those are indisputable facts.

However, I do take issue with the claim that increasing middle-class prosperity is
an "illusion." Historically, capitalism has been the "rising tide which lifts all
boats." It just lifts certain boats a hell of a lot higher. This is perfectlty fine when it
is a legitimate reward for creating new and better products, more jobs, and
a raised standard of living for many others.

It is absolutely NOT fine when it is a payment for corruption, deceit, cronyism,
theft, and/or illegal or monopolistic actions which actually lower the choices
people have available or provide a product inferior to or more expensive than
what fair competition would have generated.

But I think that many people are now mistakenly starting to assume that because
corruption and criminals are present (and perhaps fairly widespread) in
corporations and government, that the premises and fundamentals of market
based competition are somehow flawed.

Track down and jail the miscreants!
Put in safeguards to help prevent this type of misbehavior in the future.
And examine what sort of societal mindset is making people choose to commit
these fraudulent acts. (Example: A former Cisco VP just went to jail. He had
made $35 million legally and legitimately. But that wasn't enough. Oh no, not for
him. He had to illegally embezzle another $50 million. He lost his job. He's going to
jail. And he has to pay back the money. But what was he *thinking*?
Why did he risk everything, when he really had nothing to gain, and everything to
lose? Because he's an idiot, of course. But why?)

[sermon]
If anything, what is holding back the middle class (of which I am a proud member)
is their propensity for excessive debt, particularly high-interest credit card debt
(of which I have none. zip. zero. zilch. nada.) Financing is for houses, business
expenses, and maybe cars. Not for expensive dinners, empegs, and shiny
things. If you can't afford it, don't freakin' buy it!
Or make sure the debt load is really worth it to you.
So when your stock portfolio crashes (as all of ours have) and you get "reduced"
from the workforce (as many of us have, or will at some point in our lives) you
don't have to eat grubs and beetles because you have a closet full of expensive
clothes that were trendy last year, and a living room full of obsolete electronics
now worth one-tenth what you paid for them last year.
Prioritize, dammit.
[/sermon]