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Mindless by Simon Head

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INTRODUCTION

Toward a New Industrial State

ALTHOUGH INEQUALITY OF INCOME AND WEALTH IN AMERICA HAS been growing steadily for the past forty years, it was with the Wall Street crash of 2007–2008 that this disparity took on lurid, visible form with the contrasting fortunes of the winners and losers. On the winning side, with their big bonuses, were many Wall Streeters who themselves bore responsibility for the crash. On the losing side were victims of the crash on Main Street, burdened with high unemployment, crushing personal debt, falling real wages, and shrinking personal wealth propelled by housing foreclosures.

By grim coincidence, detailed statistical evidence of how extreme American inequality had become also appeared during the crisis year ...

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