Thanks for visiting InnerSelf.com, where there are 20,000+ life-altering articles promoting "New Attitudes and New Possibilities." All articles are translated into 30+ languages. Subscribe to InnerSelf Magazine, published weekly, and Marie T Russell's Daily Inspiration. InnerSelf Magazine has been published since 1985.
Richard Wolff: Detroit a "Spectacular Failure" of System that Redistributes Pay from Bottom to Top
Kicking off a series of speeches about the economy, President Obama told a crowd in Illinois on Wednesday that reversing growing inequality and rejuvenating the middle class "has to be Washington’s highest priority."
During his remarks, Obama failed to mention the bankruptcy filing by Detroit, where thousands of public workers are now fighting to protect their pensions and medical benefits as the city threatens massive cuts to overcome an estimated $18 billion in debt. Detroit’s bankruptcy "is an example of a failed economic system," says economist Richard Wolff, professor emeritus of economics at University of Massachusetts.
"There are so many other cities in Detroit’s situation, that if the courts decide that it is legal to take away the pension that has been promised to and paid for by these workers, you have [legalized] theft. It is class war, redistributing income from the bottom to the top."
{mp4remote}http://dncdn.dvlabs.com/flash/dn2013-0725.mp4?start=2769.0{/mp4remote}
Robert Jennings, InnerSelf.com
Radical policy changes, such as tariffs on imports, deportations, and ending climate initiatives, will reshape the U.S. economy. While…
Andrew J. Hoffman, University of Michigan
Homeowners across the US are facing rapidly increasing insurance premiums due to climate change and more frequent extreme weather events.…
Robert Jennings, InnerSelf.com
A balanced diet rich in anti-inflammatory foods like those in the Mediterranean diet can enhance your longevity and prevent chronic…
Dan Baumgardt, University of Bristol
Mouth ulcers and cracks at the corners of your mouth may seem like minor irritations, but they can indicate deeper health issues. From…
InnerSelf Staff
The cover image for this week's InnerSelf Magazine is a picture of a gannet. This bird known for its graceful flight, powerful diving…
Thanks for visiting InnerSelf.com, where there are 20,000+ life-altering articles promoting "New Attitudes and New Possibilities." All articles are translated into 30+ languages. Subscribe to InnerSelf Magazine, published weekly, and Marie T Russell's Daily Inspiration. InnerSelf Magazine has been published since 1985.