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We’re the 99% and we’re not so united

05 Aug

Water boils at 100°C; that’s certain. But there’s little point expecting the behaviour of societies to conform to the laws of physics. That 1% of people command the majority of the world’s wealth does not mean that the 99% are a cohesive social group, still less a political force at boiling point.The 2011 Occupy Wall Street movement was built around an idea and a slogan: ‘We are the 99% that will no longer tolerate the greed and corruption of the 1%.’ Studies just before it happened showed that almost all of the gains from an economic upturn had gone to the US’s wealthiest 1%. This wasn’t a historical aberration or a national exception. Almost everywhere a similar outcome has consistently been encouraged by government policy. In France, the tax plans of President Macron will largely benefit ‘the richest 280,000 households … whose assets are mainly in the form of financial investments and business shares’ (1).

Source: We’re the 99% and we’re not so united, by Serge Halimi (Le Monde diplomatique – English edition, August 2017)

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Posted by on August 5, 2017 in Uncategorized

 

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