For the last several decades, we’ve all put up with increasing inequality because we believed the billionaires were creating wealth for all of us. Like manipulative partners, the super-wealthy have legitimized an extremely unequal economic model by convincing us that we’d be worse off without them.
The parasitic role of the super-wealthy became very obvious after the financial crisis, when billionaires nearly destroyed the global economy only to be bailed out by client governments who spent the next decade cutting social security and other social programs while providing handouts to the rich.
Then came the COVID-19 pandemic, when some of the largest corporations on the planet received government support while ordinary workers lost their jobs and their homes. And then came the cost of living crisis, when powerful corporations used inflation as an excuse to raise prices, delivering huge profits at the expense of consumers…..more
