Wednesday, December 07, 2011

Driver of increasing income inequality

Nick Schulz writes in an LA Times op-ed about Occupy Wall Street:
A third dynamic widening income disparities is in some ways the most inconvenient of all: the collapse of intact families. The explosion of out-of-wedlock births and of children living outside of two-parent households has widened economic disparities of all kinds, including income.

The reason is straightforward. The role that human and social capital plays in helping a person generate income in an advanced economy has increased over the last half a century. And over that same time, the primary institution for inculcating human and social capital has badly weakened.

Social scientists routinely find that individuals raised in intact families are generally better equipped to thrive in the economy. Today's 99% is teeming with tens of millions of Americans who were not raised in a stable home environment, and their earnings potential is compromised as a result.

The problem of family breakdown doesn't lend itself to easy fixes. And its cultural roots run quite deep at this point. But it's a safe bet that in the several months they occupied Zuccotti Park and other public spaces, not one new idea was raised by Occupiers that would help arrest this driver of increasing income inequality.
It is not that hard. If we had the political will, then we would start by shutting down all the govt programs contributing to family breakdown. A good step would be to abolish CPS, the family court, and welfare programs that favor single moms.

The Occupy protesters don't go around saying that we should have more competent bankers. It is tempting to say that the banking panic of 2008 was caused by incompetent bankers who were unprepared for a housing crash. No, it was caused by structural problems that allowed bankers and others to profit from bad loans.

The Occupy folks are driven by the bigger picture. They have a conviction that there is a financial elite that is running our economy to the detriment of the other 99%. The banking system is just a tool of the elite.

I believe that the welfare system, CPS, family court, and even the public schools are just tools of the people who are breaking down our social structure.

4 comments:

Anonymous said...

No, it was caused by structural problems that allowed bankers and others to profit from bad loans.

the other 99%. The banking system is just a tool of the elite.

So, who do you think might be responsible for the structural problems that were so profitable to "others" ? the "elite" or the other 99% ?

Which group, the elite or the 99% may have had the "tools" to affect the "structure" that had these problems ?

I don't think it's tempting to say that it might have been an issue of incompetence. I think it is tempting to say it was an issue of greed.

Anonymous said...

the banking panic of 2008 was caused by a tool of the elite, competent bankers running our economy,to the detriment of the other 99%.

tens of millions of Americans were unprepared for a housing crash. their earnings potential is compromised as a result.

the elite, who are breaking down our social structure over the last half a century has widened economic disparities of all kinds, including income.

an advanced economy has increased over the last half a century. the elite are generally better equipped to thrive in the economy, Today. widened economic disparities doesn't lend itself to easy fixes for the 99%.

the elite's political will caused structural problems that allowed bankers and financial elite to profit from bad loans.

Anonymous said...

We have seen increasing public school nuisance towards single parents esp single fathers. Most pubic schools have 95-98% women staff and they assume things or listen to mothers and start throwing resistance, blocking, conspiring towards single fathers.

We come across so many complaints from different schools parents that teachers, principal or staff start harassing single fathers. These incidents also happens in some private schools but a lesser degree.

Public schools are extension of government. So they buddy up with government programs. We have now sad system that includes public schools.

Anonymous said...

Loss of basic common sense at public schools. If we make any suggestions, their attitude towards parents is "Who the hell are you? Just, shut up and go?". This is what happens when a tax money funds programs. Whenever government owns, it gets corrupted so as schools. Unfortunately, most parents can not speak or do anything about it.