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,SOCIALISM = ! ,RI*1 ,CAPITALISM = ! ,POOR 

,PEOPLE 3 

,AU?OR 3 ,NOAM ,*OMSKY 

,TEXT 3 

,SOCIALISM = ! ,RI*1 ,CAPITALISM = ! ,POOR 

  

,C4 ,J4 ,P,O,L,Y,*,R,O,N,I,\3 ,NOAM1 9 SEV]AL ( Y\R WRIT+S Y\ QUE/ION ! USUAL VIEW ( ! ,UNIT$ ,/ATES AS AN >*ETYPICAL CAPITALI/ ECONOMY4 ,PLEASE EXPLA94 

,N,O,A,M ,*,O,M,S,K,Y3 ,CONSID] ?IS3 ,EV]Y TIME !RE IS A CRISIS1 ! TAXPAY] IS CALL$ ON TO BAIL \T ! BANKS & ! MAJOR F9ANCIAL 9/ITUTIONS4 ,IF Y\ HAD A REAL CAPITALI/ ECONOMY 9 PLACE1 ?AT W\LD NOT BE HAPP5+4 ,CAPITALI/S :O MADE RISKY 9VE/M5TS & FAIL$ W\LD BE WIP$ \T4 ,BUT ! RI* & P[]FUL DO NOT WANT A CAPITALI/ SY/EM4 ,!Y WANT TO BE ABLE TO RUN ! NANNY /ATE SO :5 !Y >E 9 TR\BLE ! TAXPAY] WILL BAIL !M \T4 ,! CONV5TIONAL PHRASE IS 0TOO BIG TO FAIL40 

,! ,I,M,F DID AN 9T]E/+ /UDY A FEW YE>S AGO ON PR(ITS ( ! BIG ,U,S BANKS4 ,IT ATTRIBUT$ MO/ ( !M TO ! MANY ADVANTAGES ?AT COME FROM ! IMPLICIT GOV]NM5T 9SURANCE POLICY--NOT JU/ ! FEATUR$ BAIL\TS1 BUT ACCESS TO *EAP CR$IT & MU* ELSE--9CLUD+ ?+S ! ,I,M,F RESE>*]S DIDN'T CONSID]1 LIKE ! 9C5TIVE TO UND]TAKE RISKY TRANSACTIONS1 H5CE HI<LY PR(ITABLE 9 ! %ORT T]M1 & IF ANY?+ GOES WRONG1 !RE'S ALWAYS ! TAXPAY]4 ,BLOOMB]G ,BUS9ESSWEEK E/IMAT$ ! IMPLICIT TAXPAY] SUBSIDY AT OV] @s#h BILLION P] YE>4 

,MU* HAS BE5 SAID & WRITT5 AB\T ECONOMIC 9EQUALITY4 ,IS ECONOMIC 9EQUALITY 9 ! CONTEMPOR>Y CAPITALI/ ]A V]Y DIFF]5T FROM :AT IT WAS 9 O!R PO/-SLAV]Y P]IODS ( ,AM]ICAN HI/ORY8 

,! 9EQUALITY 9 ! CONTEMPOR>Y P]IOD IS ALMO/ UNPREC$5T$4 ,IF Y\ LOOK AT TOTAL 9EQUALITY1 IT RANKS AMONG ! WORSE P]IODS ( ,AM]ICAN HI/ORY4 ,H[EV]1 IF Y\ LOOK AT 9EQUALITY MORE CLOSELY1 Y\ SEE ?AT IT COMES FROM WEAL? ?AT IS 9 ! H&S ( A T9Y SECTOR ( ! POPULATION4 ,!RE W]E P]IODS ( ,AM]ICAN HI/ORY1 SU* AS DUR+ ! ,GILD$ ,AGE 9 ! #a#i#bS & ! RO>+ #a#i#iS1 :5 SOME?+ SIMIL> WAS GO+ ON4 ,BUT ! CURR5T P]IOD IS EXTREME BECAUSE 9EQUALITY COMES FROM SUP]-WEAL?4 ,LIT]ALLY1 ! TOP ONE-T5? ( A P]C5T >E JU/ SUP] WEAL?Y4 ,?IS IS NOT ONLY EXTREMELY UNJU/ 9 ITSELF BUT REPRES5TS A DEVELOPM5T ?AT HAS CORROSIVE EFFECTS ON DEMOCRACY & ON ! VISION ( A DEC5T SOCIETY4 

,:AT DOES ALL ?IS MEAN 9 T]MS ( ! ,AM]ICAN ,DREAM8 ,IS IT DEAD8 

,! 0,AM]ICAN ,DREAM0 WAS ALL AB\T CLASS MOBILITY4 ,Y\ W]E BORN POOR BUT C\LD GET \T ( POV]TY ?R\< H>D WORK & PROVIDE A BETT] FUTURE = Y\R *ILDR54 ,IT WAS POSSIBLE = SOME WORK]S TO F9D A DEC5T-PAY+ JOB1 BUY A HOME1 A C>1 & PAY = A KID'S $UCATION4 ,IT'S ALL COLLAPS$--& WE %\LDN'T HAVE TOO MANY ILLUSIONS AB\T :5 IT WAS P>TIALLY REAL4 ,TODAY SOCIAL MOBILITY 9 ! ,UNIT$ ,/ATES IS BEL[ O!R RI* SOCIETIES4 

,IS ! ,UNIT$ ,/ATES !N A DEMOCRACY 9 NAME ONLY8 

,! ,UNIT$ ,/ATES PR(ESSES TO BE A DEMOCRACY1 BUT IT HAS CLE>LY BECOME SOME?+ ( A PLUTOCRACY1 AL?\< IT IS /ILL AN OP5 & FREE SOCIETY BY COMP>ATIVE /&>DS4 ,BUT LET'S BE CLE> AB\T :AT DEMOCRACY MEANS4 ,9 A DEMOCRACY1 ! PUBLIC 9FLU5CES POLICY & !N ! GOV]NM5T C>RIES \T ACTIONS DET]M9$ BY ! PUBLIC4 ,= ! MO/ P>T1 ! ,U,S GOV]NM5T C>RIES \T ACTIONS ?AT B5EFIT CORPORATE & F9ANCIAL 9T]E/S4 ,IT IS ALSO IMPORTANT TO UND]/& ?AT PRIVILEG$ & P[]FUL SECTORS 9 SOCIETY HAVE NEV] LIK$ DEMOCRACY1 = GOOD REASONS4 ,DEMOCRACY PLACES P[] 9 ! H&S ( ! POPULATION & TAKES IT AWAY FROM !M4 ,9 FACT1 ! PRIVILEG$ & P[]FUL CLASSES ( ?IS C\NTRY HAVE ALWAYS S\<T TO F9D WAYS TO LIMIT P[] FROM BE+ PLAC$ 9 ! H&S ( ! G5]AL POPULATION--& !Y >E BREAK+ NO NEW GR\ND 9 ?IS REG>D4 

,CONC5TRATION ( WEAL? YIELDS TO CONC5TRATION ( P[]4 ,I ?9K ?IS IS AN UND5IABLE FACT4 ,& S9CE CAPITALISM ALWAYS LEADS 9 ! 5D TO CONC5TRATION ( WEAL?1 DOESN'T IT FOLL[ ?AT CAPITALISM IS ANTI!TICAL TO DEMOCRACY8 

,CONC5TRATION ( WEAL? LEADS NATURALLY TO CONC5TRATION ( P[]1 :I* 9 TURN TRANSLATES TO LEGISLATION FAVOR+ ! 9T]E/S ( ! RI* & P[]FUL & !REBY 9CREAS+ EV5 FUR!R ! CONC5TRATION ( P[] & WEAL?4 ,V>I\S POLITICAL MEASURES1 SU* AS FISCAL POLICY1 D]EGULATION1 & RULES = CORPORATE GOV]NANCE1 >E DESIGN$ TO 9CREASE ! CONC5TRATION ( WEAL? & P[]4 ,& ?AT'S :AT WE'VE BE5 SEE+ DUR+ ! NEOLIB]AL ]A4 ,IT IS A VICI\S CYCLE 9 CON/ANT PROGRESS4 ,! /ATE IS !RE TO PROVIDE SECURITY & SUPPORT TO ! 9T]E/S ( ! PRIVILEG$ & P[]FUL SECTORS 9 SOCIETY1 :ILE ! RE/ ( ! POPULATION IS LEFT TO EXP]I5CE ! BRUTAL REALITY ( CAPITALISM4 ,SOCIALISM = ! RI*1 CAPITALISM = ! POOR4 

,SO1 YES1 9 ?AT S5SE CAPITALISM ACTUALLY WORKS TO UND]M9E DEMOCRACY4 ,BUT :AT HAS JU/ BE5 DESCRIB$--?AT IS1 ! VICI\S CYCLE ( CONC5TRATION ( P[] & WEAL?--IS SO TRADITIONAL ?AT IT IS EV5 DESCRIB$ BY ,ADAM ,SMI? 9 #a#g#g#f4 ,HE SAYS 9 HIS FAM\S ,WEAL? ( ,NATIONS ?AT1 9 ,5GL&1 ! PEOPLE :O [N SOCIETY1 9 HIS DAYS ! M]*ANTS & ! MANUFACTUR]S1 >E 0! PR9CIPAL >*ITECTS ( POLICY40 ,& !Y MAKE SURE ?AT !IR 9T]E/S >E V]Y WELL C>$ =1 H[EV] GRIEV\S ! IMPACT ( ! POLICIES !Y ADVOCATE & IMPLEM5T ?R\< GOV]NM5T IS ON ! PEOPLE ( ,5GL& OR O!RS4 

,N[1 IT'S NOT M]*ANTS & MANUFACTUR]S :O [N SOCIETY & DICTATE POLICY4 ,IT IS F9ANCIAL 9/ITUTIONS & MULT9ATIONAL CORPORATIONS4 ,TODAY !Y >E ! GR\PS ?AT ,ADAM ,SMI? CALL$ ! MA/]S ( MANK9D4 ,& !Y >E FOLL[+ ! SAME VILE MAXIM ?AT HE =MULAT$3 ,ALL = \RSELVES & NO?+ = ANYONE ELSE4 ,!Y WILL PURSUE POLICIES ?AT B5EFIT !M & H>M EV]YONE ELSE BECAUSE CAPITALI/ 9T]E/S DICTATE ?AT !Y DO SO4 ,IT'S 9 ! NATURE ( ! SY/EM4 ,& 9 ! ABS5CE ( A G5]AL1 POPUL> REACTION1 ?AT'S PRETTY MU* ALL Y\ WILL GET4 

,LET'S RETURN TO ! IDEA ( ! ,AM]ICAN ,DREAM & TALK AB\T ! ORIG9S ( ! ,AM]ICAN POLITICAL SY/EM4 ,I MEAN1 IT WAS NEV] 9T5D$ TO BE A DEMOCRACY 7ACTUALLY ! T]M ALWAYS US$ TO DESCRIBE ! >*ITECTURE ( ! ,AM]ICAN POLITICAL SY/EM WAS 0REPUBLIC10 :I* IS V]Y DIFF]5T FROM A DEMOCRACY1 AS ! ANCI5T ,ROMANS WELL UND]/OOD71 & !RE HAD ALWAYS BE5 A /RUGGLE = FRE$OM & DEMOCRACY FROM BEL[1 :I* CONT9UES TO ?IS DAY4 ,9 ?IS CONTEXT1 WASN'T ! ,AM]ICAN ,DREAM BUILT AT LEA/ P>TLY ON A MY?8 

,SURE4 ,RI<T ?R\< ,AM]ICAN HI/ORY1 !RE'S BE5 AN ONGO+ CLA% BETWE5 PRESSURE = MORE FRE$OM & DEMOCRACY COM+ FROM BEL[ & EF=TS AT ELITE CONTROL & DOM9ATION FROM ABOVE4 ,IT GOES BACK TO ! F\ND+ ( ! C\NTRY1 AS Y\ PO9T$ \T4 ,! 0F\ND+ FA!RS10 EV5 ,JAMES ,MADISON1 ! MA9 FRAM]1 :O WAS AS MU* A BELIEV] 9 DEMOCRACY AS ANY O!R LEAD+ POLITICAL FIGURE 9 ?OSE DAYS1 FELT ?AT ! ,UNIT$ ,/ATES' POLITICAL SY/EM %\LD BE 9 ! H&S ( ! WEAL?Y BECAUSE ! WEAL?Y >E ! 0MORE RESPONSIBLE SET ( M540 ,&1 ?US1 ! /RUCTURE ( ! =MAL CON/ITUTIONAL SY/EM PLAC$ MORE P[] 9 ! H&S ( ! ,S5ATE1 :I* WAS NOT ELECT$ 9 ?OSE DAYS4 ,IT WAS SELECT$ FROM ! WEAL?Y M5 :O1 AS ,MADISON PUT IT1 HAD SYMPA?Y = ! [N]S ( WEAL? & PRIVATE PROP]TY4 

,?IS IS CLE> :5 Y\ READ ! DEBATES ( ! ,CON/ITUTIONAL ,CONV5TION4 ,AS ,MADISON SAID1 A MAJOR CONC]N ( ! POLITICAL ORD] HAS TO BE 0TO PROTECT ! M9ORITY ( ! OPUL5T AGA9/ ! MAJORITY40 ,& HE HAD >GUM5TS4 ,IF EV]YONE HAD A VOTE FREELY1 HE SAID1 ! MAJORITY ( ! POOR W\LD GET TOGE!R & !Y W\LD ORGANIZE TO TAKE AWAY ! PROP]TY ( ! RI*4 ,?AT1 HE ADD$1 W\LD BE OBVI\SLY UNJU/1 SO ! CON/ITUTIONAL SY/EM HAD TO BE SET UP TO PREV5T DEMOCRACY4 

,RECALL ?AT ,>I/OTLE HAD SAID SOME?+ SIMIL> 9 HIS ,POLITICS4 ,( ALL POLITICAL SY/EMS1 HE FELT ?AT DEMOCRACY WAS ! BE/4 ,BUT HE SAW ! SAME PROBLEM ?AT ,MADISON SAW 9 A TRUE DEMOCRACY1 :I* IS ?AT ! POOR MI<T ORGANIZE TO TAKE AWAY ! PROP]TY ( ! RI*4 ,! SOLUTION ?AT HE PROPOS$1 H[EV]1 WAS SOME?+ LIKE A WELF>E /ATE ) ! AIM ( R$UC+ ECONOMIC 9EQUALITY4 ,! O!R ALT]NATIVE1 PURSU$ BY ! 0F\ND+ FA!RS10 IS TO R$UCE DEMOCRACY4 

,N[1 ! SO-CALL$ ,AM]ICAN ,DREAM WAS ALWAYS BAS$ P>TLY 9 MY? & P>TLY 9 REALITY4 ,FROM ! E>LY N9ETE5? C5TURY ONW>D & UP UNTIL FAIRLY REC5TLY1 WORK+-CLASS PEOPLE1 9CLUD+ IMMIGRANTS1 HAD EXPECTATIONS ?AT !IR LIVES W\LD IMPROVE 9 ,AM]ICAN SOCIETY ?R\< H>D WORK4 ,& ?AT WAS P>TLY TRUE1 AL?\< IT DID NOT APPLY = ! MO/ P>T TO ,AFRICAN ,AM]ICANS & WOM5 UNTIL MU* LAT]4 ,?IS NO LONG] SEEMS TO BE ! CASE4 ,/AGNAT+ 9COMES1 DECL9+ LIV+ /&>DS1 \TRAGE\S /UD5T DEBT LEVELS1 & H>D-TO-COME-BY DEC5T-PAY+ JOBS HAVE CREAT$ A S5SE ( HOPELESSNESS AMONG MANY ,AM]ICANS1 :O >E BEG9N+ TO LOOK ) C]TA9 NO/ALGIA T[>D ! PA/4 ,?IS EXPLA9S1 TO A GREAT EXT5T1 ! RISE ( ! LIKES ( ,DONALD ,TRUMP & ! APPEAL AMONG ! Y\? ( ! POLITICAL MESSAGE ( SOMEONE LIKE ,B]NIE ,S&]S4 

,AFT] ,WORLD ,W> ,I,I1 & PRETTY MU* UP UNTIL ! MID-#a#i#gS1 !RE WAS A MOVEM5T 9 ! ,UNIT$ ,/ATES 9 ! DIRECTION ( A MORE EGALIT>IAN SOCIETY & T[>D GREAT] FRE$OM1 9 SPITE ( GREAT RESI/ANCE & OPPRESSION FROM ! ELITE & V>I\S GOV]NM5T AG5CIES4 ,:AT HAPP5$ AFT]W>DS ?AT ROLL$ BACK ! ECONOMIC PROGRESS ( ! PO/W> ]A1 CREAT+ 9 ! PROCESS A NEW SOCIOECONOMIC ORD] ?AT HAS COME TO BE ID5TIFI$ AS ?AT ( NEOLIB]ALISM8 

,BEG9N+ 9 ! #a#i#gS1 P>TLY BECAUSE ( ! ECONOMIC CRISIS ?AT ]UPT$ 9 ! E>LY YE>S ( ?AT DECADE & ! DECL9E 9 ! RATE ( PR(IT1 BUT ALSO P>TLY BECAUSE ( ! VIEW ?AT DEMOCRACY HAD BECOME TOO WIDESPREAD1 AN 5ORM\S1 CONC5TRAT$1 COORD9AT$ BUS9ESS (F5SIVE WAS BEGUN TO TRY TO BEAT BACK ! EGALIT>IAN EF=TS ( ! PO/W> ]A1 :I* ONLY 9T5SIFI$ AS TIME W5T ON4 ,! ECONOMY ITSELF %IFT$ TO F9ANCIALIZATION4 ,F9ANCIAL 9/ITUTIONS EXP&$ 5ORM\SLY4 ,BY #b#g1 RI<T BE=E ! CRA% = :I* !Y HAD CONSID]ABLE RESPONSIBILITY1 F9ANCIAL 9/ITUTIONS ACC\NT$ = A /UNN+ #d P]C5T ( CORPORATE PR(IT4 ,A VICI\S CYCLE BETWE5 CONC5TRAT$ CAPITAL & POLITICS ACCEL]AT$1 :ILE 9CREAS+LY WEAL? CONC5TRAT$ 9 ! F9ANCIAL SECTOR4 ,POLITICIANS1 FAC$ ) ! RIS+ CO/ ( CAMPAIGNS1 W]E DRIV5 EV] DEEP] 9TO ! POCKETS ( WEAL?Y BACK]S4 ,& POLITICIANS REW>D$ !M BY PU%+ POLICIES FAVORABLE TO ,WALL ,/REET & O!R P[]FUL BUS9ESS 9T]E/S4 ,?R\<\T ?IS P]IOD1 WE HAVE A R5EW$ =M ( CLASS W>F>E DIRECT$ BY ! BUS9ESS CLASS AGA9/ ! WORK+ PEOPLE & ! POOR1 ALONG ) A CONSCI\S ATTEMPT TO ROLL BACK ! GA9S ( ! PREVI\S DECADES4 

,N[ ?AT ,TRUMP IS ! PRESID5T-ELECT1 IS ! ,B]NIE ,S&]S POLITICAL REVOLUTION OV]8 

,?AT'S UP TO US & O!RS TO DET]M9E4 ,! ,S&]S 0POLITICAL REVOLUTION0 WAS QUITE A REM>KABLE PH5OM5ON4 ,I WAS C]TA9LY SURPRIS$1 & PLEAS$4 ,BUT WE %\LD REMEMB] ?AT ! T]M 0REVOLUTION0 IS SOME:AT MISLEAD+4 ,S&]S IS AN HONE/ & COMMITT$ ,NEW ,DEAL]4 ,! FACT ?AT HE'S CONSID]$ 0RADICAL0 TELLS US H[ F> ! ELITE POLITICAL SPECTRUM HAS %IFT$ TO ! RI<T DUR+ ! NEOLIB]AL P]IOD4 ,!RE HAVE BE5 SOME PROMIS+ (F%OOTS ( ! ,S&]S MOBILIZATION1 LIKE ! ,BR& ,NEW ,CONGRESS MOVEM5T & SEV]AL O!RS4 

,!RE C\LD1 & %\LD1 ALSO BE EF=TS TO DEVELOP A G5U9E 9DEP5D5T LEFT P>TY1 ONE ?AT DOESN'T JU/ %[ UP EV]Y F\R YE>S BUT IS WORK+ CON/ANTLY AT ! GRASSROOTS1 BO? AT ! ELECTORAL LEVEL 7EV]Y?+ FROM S*OOL BO>DS TO T[N MEET+S TO /ATE LEGISLATURES & ON UP7 & 9 ALL ! O!R WAYS ?AT CAN BE PURSU$4 ,!RE >E PL5TY ( OPPORTUNITIES--& ! /AKES >E SUB/ANTIAL1 P>TICUL>LY :5 WE TURN ATT5TION TO ! TWO 5ORM\S %AD[S ?AT HOV] OV] EV]Y?+3 NUCLE> W> & 5VIRONM5TAL CATA/ROPHE1 BO? OM9\S1 DEM&+ URG5T ACTION4 

,ORIG9ALLY PUBLI%$ 9 ,TRU?\T1 ,DECEMB] #a1 #baf 

,FROM 3 ,!,AN>*I/,LIBR>Y4ORG4 

,*RONOLOGY 3 
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,JANU>Y #a#f1 #bbb 3 ,P>T #b1 ,*APT] #h -- ,UPDAT$4 

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