Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.

As always, you care more about relative things than absolute things.

That's what you really want to believe, but just look at the last graph I posted: the median wage is stagnating. There is no progress, in absolute terms (your own criteria) for the middle classes, despite fast growth.

So, according to your criteria (as long as the poor are better off, who cares how well the rich fare), the current system is a failure. It's not benefitting in any way to the vast majority of the population.

And the fact that people like you pretend that all is well ("GDP is growing! The economy is doing great!") does not go well with the  middle classes who see the rich getting extravagantly richer while they themselves are working ever harder just to stay put.

Incomes are not growing for the vast majority. You can spin that like you want it, it's bad under any criteria.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Sat Oct 27th, 2007 at 10:53:46 AM EST
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