Americans so believe in a mythical market. There is this magical thing that watches over our economic activity. Let’s be clear. Our financial system is human-made, and they created it with a built-in bias for those who already had means and capital.
Many Americans attempt to justify corporate executives making thousands of times more than their employees with a multitude of excuses. It’s not some mythical market that affords them their windfall. It is legalized theft.
A listener to Politics Done Right called in to talk about that issue, among others. He gave the perfect opportunity for a rant on this issue.
Mythical Market exposed
The caller attempted to justify the CEO’s excessive income by first using a fast-food worker as an example. He implied that it was acceptable for a CEO to make orders of magnitude over the average employee because he had more responsibility.
I made it clear to him that said belief illustrated a significant problem in America, the lack of self-worth. I wrote an article on this issue titled “Middle-Class Must Assert Its Worth To Assure Their Share Of America’s Wealth” a few years ago that still holds today.
The caller then pointed out the biggest fallacy that the system has taught the masses to regurgitate. It is not the fault of the Plutocracy for the skewed compensation in our economic system. They attribute that distribution to the market — yes, the mythical market. This crap is all descending from the teachings facilitated by the Powell Manifesto in some form or the other.
The market is not divine. It’s creators knew what they were doing, including the mythology. The new book I am writing, “How to make America Utopia,” is exploring much of this in an easy to read manner. As I complete chapters, I put it online.
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