Saturday, March 29, 2014

Class War with a Smiley Face

Kathleen Geier
March 28, 2014

In Silicon Valley there really is a class war going on, a wage-fixing cartel that’s pitting the one percent against everyone else. Thomas Piketty, the economist who wrote the new book Capital in the Twenty-First Century, is most famous for his insight that economic inequality is mostly driven by the top one percent of income earners. The incomes of the top one percent have pulled away from the rest of us and their economic interests have, over time, come to diverge dramatically from those of the mainstream of American society. The one percenters are waging class war not just on the traditional targets, poor and working class Americans, but increasingly, on middle class professionals as well.

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