WTF – The Empire Strikes Back, Again!

According to a new posting by Common Dreams, 2 tech billionaires have launched an initiative appropriately titled Win the Future (WTF). Apparently Mark Pincus, Reid Hoffman and their corporate elite friends think that the problem with the Democrats is that they are moving away from a “pro-business”, pro-economy” stance and have been pushed too far left.

Wow! History does repeat – the first time as tragedy, the second time as farce. Is this the new iteration of the Democratic Leadership Council? Are we witnessing an attempt at a corporate coup or, in business parlance, a hostile takeover - well really not that hostile?  Do Pincus and Hoffman intend to patent the “Democratic” brand and sell it. They could call it Republican-lite.

WTF – they got that part right.

Politics and the Upper Middle Class

Interesting review of Richard Reeves' new book in The Nation. Reeves makes an important point that not all inequality is the result of the 1% hogging all the benefits from economic growth. He demonstrates that the upper middle class has also benefited to a great extent. The significance is that this class has a great deal of power, political economic and social, and uses that power to preserve its privileges. Think protecting zoning laws and neighborhood schools; think tax benefits for educational savings accounts; think support for "balanced budgets" to preclude tax increases.

Reeves analysis is worth considering when formulating responses to inequality. The upper middle class is a major force behind the neoliberal "solutions" to inequality, arguing (as unfortunately Reeves himself seems to do) that making competition "fairer" by providing a few rungs to the ladder of success is all we need to do. But doesn't competition always lead to winners and losers? Changing the class, race and/or gender of the winners does nothing to overcome the basic inequality of a system that reserves almost all of its rewards for the few winners.

Yes, competition may drive growth, but growth itself should NOT be the goal of economic activity. Should our society serve the economy, or should our economy serve society? And how can we change the narrative from a liberal (or neoliberal) perspective to a progressive one?

We Are the 99 Percent—Except for the Top 20 Percent of Us

In a new book, Richard V. Reeves argues that members of the upper middle class, not just the ultra-wealthy, are making our society profoundly unequal.

THENATION.COM