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The nation’s economy has seen massive gains, but the income and wealth of the bottom 80% of America have barely budged while the income and wealth of the richest Americans have exploded.
This change didn’t happen because of the so-called “invisible hand” of the free market.
It happened because of policy decisions pushed by the monied interests – decisions that deregulated Wall Street, allowed corporations to bash unions and monopolize their industries, opened the American economy to Chinese imports, let pharmaceutical companies charge exorbitant prices, cut taxes on the rich and bailed out the biggest banks while saddling working people with student debt and medical debt.
https://www.theguardian.com/commentisfree/2024/mar/07/joe-biden-state-union
This change didn’t happen because of the so-called “invisible hand” of the free market.
It happened because of policy decisions pushed by the monied interests – decisions that deregulated Wall Street, allowed corporations to bash unions and monopolize their industries, opened the American economy to Chinese imports, let pharmaceutical companies charge exorbitant prices, cut taxes on the rich and bailed out the biggest banks while saddling working people with student debt and medical debt.
https://www.theguardian.com/commentisfree/2024/mar/07/joe-biden-state-union