“A new distribution system is needed. Real wages will not rise by much, full-time well-paying jobs will not become the norm, the precariat will continue to grow. Progressives should stop pretending marginal adjustments would rectify the trends and should offer a transformative economic strategy instead.” £’s. Petras Gagilas / Flickr. Some rights reserved. Accelerated by austerity’s inequities, the 20 th century income distribution system has broken down irretrievably in what is an era of global rentier capitalism. More and more income is flowing to a rent-extracting elite, returns from financial, physical and so-called intellectual property, bolstered by subsidies and […]
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