Thursday, September 15, 2011

Why the "Lost Decade?"

Social justice is a different concept for many of the people who control corporations or large fortunes. "We'll always be rich," is a common refrain among today's "Roman Senators." They not only protect themselves, but their abundant funds insure they have the best governments money can buy.

The Census Bureau simply releases figures: they show increases in poverty from 14.3% to 15.1%, and a median income lower than it was in 1996. Today's poverty rate is as high as it was at the beginning of Clinton's administration (1993); median incomes of working age Americans are as low as they were (in inflation-adjusted dollars) in 1973 (after Nixon, who would be a "liberal" today)!

The New York Times (9/14/11) lead story doesn't ask why. The Times simply observes that things began to get worse after 2001 and have continued to do so, thus the "lost decade."

These trends coincide with the rise to dominance of conservative policies under Reagan. There was some improvement during the Clinton years, partly because the wealthy actually paid a bit more in taxes, and everyone else received more in government services. Bush II did his best to dismantle Clinton's small improvements.

Economic policy makes a difference: so does political worldview. What the dramatic increases in poverty, etc. demonstrate is that trickle down economics doesn't work, while the mild '90's redistributive economics did work. Also an administration that believes government can do good things, will administer more effectively (FEMA is an example, comparing Katrina with Irene).

If social justice is giving everyone a decent chance, and rewarding those who excel, while helping those who need it, we have an increasingly unjust political system and economy.

In practical terms, we'd all be better off--except for the top 0.01% of income earners--if we had a more equitable tax system and a governing philosophy that represented the interests of most people, instead of a small elite. This would not only increase social justice, but it would likely grow the economy faster--and create jobs.

When labeling the last ten years "the Lost Decade," the Times neglected to point out that this is when conservative economics and policies triumphed: lower tax rates for the wealthy; increased deregulation; permanent war; cutbacks in services; "free trade;" the resulting race to the bottom for American workers and the further weakening of unions.

Obama has barely modified most of these policies. Any progress his minimal proposals might have had, were cancelled out by Bush's recession.

"Conservatives," however, advocate less or no government action to help the "less fortunate." Social justice, they maintain, means helping those who "deserve it," the supposed "job creators" imagined by Ayn Rand, and touted by Speaker Boehner. Their worldview holds even when (as demonstrated by the new census figures) the real world results show that all but the selfish class have become markedly worse off.

Social injustice (poverty, inequality) will grow as long as their worldview remains dominant.

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