Vol. 36, No. 01
January 6, 2020
Correction, Please!
It’s the (Growing) Economy, Stupid
Item: The cover story for Time magazine’s double issue dated December 2-9, 2019, entitled (online) “How America’s Elites Lost Their Grip,” charges that the nation’s top “1% behaved badly” of late, then decides that behavior has “helped bring about a reckoning with capitalism.” Examples cited include “late sexual predator and maybe tycoon” Jeffrey Epstein and how “wealth and privilege” fueled the “college-bribery scandal.”
The Time piece sees, with clear delight, “the possibility that this age of capital, in which money was the ultimate organizing principle of American life, could actually end.”
From such presuppositions comes this conclusion: “The choice facing Americans is whether we want to be a society organ-ized around money’s thirsts, a playground for the whims of billionaires, or whether we wish to be a democracy. The second Gilded Age will end at some point.”
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