...the world is now indeed splitting into a plutonomy and a precariat — in the imagery of the Occupy movement, the 1% and the 99%. Not literal numbers, but the right picture. Now, the plutonomy is where the action is and it could continue like this.But that is not the only thing we must concern ourselves with. There are two other major threats that he cites in the article.
If it does, the historic reversal that began in the 1970s could become irreversible. That’s where we’re heading. And the Occupy movement is the first real, major, popular reaction that could avert this.
in the time remaining, to help us understand how the man-made system of capitalism will lead to the extinction of our human species, and so many others.
Tuesday, May 8, 2012
Plutonomy and the Precariat On the History of the U.S. Economy in Decline
Click here to access article by Noam Chomsky from CounterPunch.