Posted at Hartmann Report on May. 12, 2024
Solution: Democracy’s Immune System: The Hidden History of Monopolies
If the continuous accumulation of wealth and the political power associated with it is a cancer in our economic, political, and social system, then the immune system that can take it on is an empowered middle class.
A middle class that outnumbers both the rich and poor combined is a uniquely American invention. At our nation’s founding, the middle class made up the majority of free Americans, in part because land stolen from the Indians was so cheap, and free slave labor helped produce a general prosperity for white people.
While the source of the American middle class in the 18th century may have been pernicious, the lesson for us today is how it produced a general economic, political, and social stability.