Monday, July 14, 2014

The Constition

The U.S. Constitution was created to form a government that wouldn't devolve into a tyranny along the lines of the monarchies of contemporary Europe.

But the more conservative of the framers were worried about the mob and wanted to put checks on the majority.

As Piketty's K21 and the last 40 years shows we should be more concerned about the opposite problem, the ability and tendency for the power and wealth of the minority to self-replicate, reinforce and grow - metastasize - at the expense of the majority.

Watch John Oliver completely destroy the idea that hard work will make you rich
The facts about economic inequality in America are pretty staggering. The top 1 percent of Americansbrings home close to 20 percent of income. Income inequality is the highest it's been since 1928. And Pew found that by a 60 to 36 percent margin, Americans believe they live in a country with a system that unfairly favors the wealthy. 
So the big question is: Why do Americans allow this to happen?

The answer, in John Oliver's estimation, is the American sense of optimism. He notes that a shockingpercentage of Americans feel the economic system unfairly favors the wealthy, but still believe that they will be wealthy if they put in the hard work. 
"I can clearly see this game is rigged, which makes it so sweet when I win this thing," Oliver says.

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