Monday, July 21, 2014

Misplaced Optimism

Because Brazil once had the greatest gap between its rich and its poor, scholars use the word Brazilianization to describe processes that concentration wealth. Brazil continues to have an extremely high wealth gap, but over the past decade, it has diminished. The United States has historically been more egalitarian and thereby more equal, but over the past decade that has been reversed by a series of policies motivated by political fetishes.

John Oliver explains how American optimism contributes to acceptance of a perversely rigged game. "If the economy were a little league game, someone would have called it by now."

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