A combination of events, including deregulation, tax reduction, the decline of unions, and a concerted effort to reduce labor costs by Multinational Corporations (MNCs), all contributed to the acceleration of inequality and the enormous gains in wealth by the top 1 percent. It hasn’t been good for the country, the economy, or working people, so the question is what are the MNCs going to do about it?
I found a copy of an article in my library from Scientific American of May 1987 which I had saved for 34 years. It was by the economist Lester Thurow and is relevant because it was the first article that documented the beginning of inequality in America and what might happen in the future.
Lester begins his article: ...
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