Look Who it Was Random video

Wealth Gap Biggest Since the Great Depression: The Whole Story

2,915 views · Published 17 November 2014 · 15:07 · Indexed 14 November 2026

Channel: Maoist Rebel News (Jason Unruhe) · 2014 · News & Politics

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The big news in economics going around right now is the release of data showing that inequality in the US is near pre-Great Depression levels. This is certainly significant to many economists as this was condition of the eve of the worst economic collapse in modern history. Many are worried the same thing will happen here. This level of inequality is what will trigger a gigantic crash into a depression. Well this not the whole story, inequality itself is not the cause of crises. It is however a symptom of the same problem.

Sources:

Forget the 1%, The Economist
http://www.economist.com/news/finance-and-economics/21631129-it-001-who-are-really-getting-ahead-america-forget-1

Some are more equal than others, The Economist
http://www.economist.com/blogs/graphicdetail/2014/11/daily-chart-2

Marxism and Financial Crisis, Jason Unruhe
http://www.lulu.com/shop/jason-unruhe/marxism-and-financial-crisis/paperback/product-21743024.html

The US rate of profit – extending the debate, Michael Roberts Blog
http://thenextrecession.wordpress.com/2013/12/19/the-us-rate-of-profit-extending-the-debate/

The Falling Rate of Profit Explains Falling US Growth, Peter Jones
http://thenextrecession.files.wordpress.com/2013/12/jones-the-falling-rate-of-profit-explains-falling-us-growth-v2.pdf

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