Equality – The Decentralization of Power

Chuck Collins and Linda McQuaig on Wealth Inequality and what to do about it
Iceland recovers from banker led debt by jailing all the bankers and forgiving loans of the citizens

Chuck Collins has written many books about inequality such as 99 to 1 but he’s also got some practical solutions. In his book, Chuck reminds us that in 1970 (and even further back), economic policy was redirected towards short-termism to benefit the 1%.

Chuck breaks it down into 3 categories:

Policies that raise the floor reduce poverty and establish a fundamental minimum standard of decency that no one will fall below.

  • The Nordic countries—Norway, Sweden, Denmark, and Finland—have very low levels of inequality, and they are also societies with strong social safety nets and policies that raise the floor
  • In contrast, one-third of people in the United States have no paid sick days, and one-half have no paid vacation days.

Examples of rule changes include:

Ensure the Minimum Wage Is a Living Wage– The minimum wage has lagged behind rising basic living expenses in housing, health care, transportation, and child care.

Provide Universal Health Care – Expand health coverage so that every child and adult has a minimum level of decent health care. No one should become sick or destitute because of lack of access to health care.

Enforce Basic Labor Standards and Protections – Ensuring basic worker rights and standards can lift up the bottom 20 percent of workers who are particularly exploited and disadvantaged in the current system. These rule changes include the forty-hour workweek, minimum vacation and family medical leave, sick leave, and protections against wage theft. Such rules contribute to a more humane society for everyone.

  • Invest in education
  • Reduce the influence of money in politics
  • Tax the 1 percent
  • Rein in CEO pay
  • Stop corporate tax dodging
  • Reclaim our financial system
  • Reengineer the corporation
  • Redesign the tax revenue system

 

References:

10 Steps to break up the Wealth of the Super Rich – Alternet.org