By Michael Parenti
Parenti's provocative critique of sophistication strength inside conventional political associations will arouse lecture room debate and introduce scholars to a distinct point of view of yankee capitalism. not like so much texts at the American political process, DEMOCRACY FOR THE FEW emphasizes the political economic climate of public coverage and who will get what.
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Additional info for Democracy for the Few (7th Edition)
Industrial corporations more than doubled their assets, while eliminating over 5 million jobs. And the years that followed brought the highest level of corporate profits in the postwar era. S. Census Bureau income studies refer to the “richest 20 percent” who earn thirteen times more than the poorest 20 percent. But that greatly understates the real chasm between rich and poor. To be in the “richest” 20 percent, you need earn only $75,000 or so. In fact, the top 20 percent are not rich but mostly upper-middle class.
S. Census Bureau, for which they were paid $363 billion in wages, or less than one-fourth of the market value created by their labor. Workers employed by Intel and Exxon received only about one-ninth of the value added, and in industries such as cigarettes and pharmaceuticals, the worker’s share was a mere one-twentieth. In the last half century, the overall average rate of value added (the portion going to the owner) in the United States more than doubled, far above the exploitation rate in other industrialized countries.
Employees bear much of the brunt of merger mania. Thus after merging with NationsBank, Bank of America reduced its workforce (through firings and attrition) by thirty-one thousand. S. 10 Rich families like the DuPonts have controlling interests in giant corporations like General Motors, Coca-Cola, and United Brands. The DuPonts serve as trustees of dozens of colleges. They own about forty manorial estates and private museums in Delaware alone and have set up thirty-one tax-exempt foundations. They frequently are the largest contributors to Republican presidential campaigns and right-wing causes.
Democracy for the Few (7th Edition) by Michael Parenti