Inequality for All (2013)

When middle class consumers have to tighten their belts, the whole economy suffers as seen in the years before the Great Depression and as it stands today. The middle class represents 70% of spending and is the great stabilizer of our economy. No increase in spending by the rich can make up for it. This is the moment in history in which we find ourselves: unprecedented income divisions, a wildly fluctuating and unstable economy, and average Americans increasingly frustrated and disillusioned. The debate about income inequality has become part of the national discussion, and this is a good thing. Inequality For All connects the dots for viewers, showing why dealing with the widening gap between the right and everyone else isn’t just about moral fairness. The issues addressed are arguably the most pressing of our times. The film alternates between intimate, approachable sequences and intellectually rigorous arguments helping people with no economic background or education of what it means for the U.S. to be economically imbalanced, and walk away with a comprehensive and significantly deeper sense of the issues and what can be done about it. More »

Comments (1)

  1. Rat Masterson

    Horrible movie, unless one enjoys watching an arrogant little academic spew, one-sided, neo-liberal ideology. Reich is an example of what happens when an intelligent man becomes immersed in neo-liberal ideology and cut off from the real world of economics and human nature. Contrary to Reich's unsupported premise, income and wealth inequality are not harmful; rather, they are evidence a healthy, moral society. People are rewarded with income based on their relative value to society. Those who create or otherwise provide value are rewarded with commensurate income. These whose contributions are minimal, are compensated with less. Executives who create innovation, efficiency and profit are appropriately paid more than low-level workers with easily replaceable skills. And, of course, as to investing and wealth management, as the old quote goes, "A Fool and His Money Are Soon Parted." All of this makes not only good economic sense, it is morally fair and just. Conversely, taking wealth from some and giving it to others is theft.

    Being an aloof academic, Reich does not realize how silly his ideas are to practical people. He blames the wealthy and income inequality for causing recent financial collapses. On the contrary, it is government meddling and over-regulation that cause collapses. When economic and financial prudence are replaced with neo-liberal ideology, and when risk is guaranteed by the government, even a fool (but not a neo-liberal), can predict that economic and financial harm will result. When lenders are forced by government to make loans to unqualified borrowers, common sense dictates that defaults will occur. When those defaults occur, the government (taxpayers) will be forced to make good on bad "guaranteed" loans. Without government meddling, lenders would only loan money to those with demonstrated ability to repay the loans. Similarly, societal income and wealth disparities eventually force the wealthy and business owners to make price and wage concessions to the less fortunate, so they can buy products and participate in the economy. History demonstrates that, without government meddling, the marketplace adjusts wages, price, income and wealth. All of the harmful effects of which Reich speaks are CAUSED by governmental efforts to redistribute wealth, provide more resources for the "less fortunate," and remove risk from the economy. These governmental efforts must, necessarily, result in financial ruin, because they have no basis in real-world economics and human nature. None of these facts matter in the fantasy, ideological world Reich and neo-liberal academics/politicians have created for themselves. Were Reich and the neo-liberals relegated to the halls of academia, there might be little harm from their nonsense. The problem for society is that these dangerous people have now taken control of the government and media. Despite powerful evidence of their ongoing failures, neo-liberals like Reich remain hell-bent on implementing their pernicious ideologies.

    6 months agoby @Rat-MastersonFlag