Sunday, October 30, 2011



I've thought from the beginning  that "1%" was an awfully generous characterization of our current economic pathology. The above graphic illustrates this well.

Given our ubiquitous 1% slogan, I'd say the unfingered 9% are getting off pretty easy, skulking innocently to the bank.

The issue is not particular folks lazing on their yachts or flying high in their corporate jets. The issue is the SYSTEM they have created, an on-going updraft for wealth and power, financial, political, military, media. It is represented not by a number -- and 1% is far too small a number -- but by a direction. And that direction leads not just toward the obvious penthouses and mansions, but to many less obvious locations. In the shadow of billionaires, are multimillionaires off the hook? Mere millionaires? Those making $440,000/year -- ten times the US median income?

It's too late to change a slogan which has become iconic. But let's at least see it as a metaphor for the actual injustices built into our system, and capitalism in general.

Marc Estrin

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