Opinion: A progressive one-two punch to fix the U.S. economy
Sen. Elizabeth Warren at her campaign headquarters in Dorchester, Mass., in October.
This abysmal record isn’t an accident, the report shows. It isn’t because of inexorable forces such as globalization, technology or the “invisible hand" of the market. It is because the rich and the big corporations have organized government power to rig the rules of the economy to benefit themselves. They evangelized market fundamentalism, the illusion that markets are self-correcting and efficiently serve the public interest, while governments are ineffective and wasteful.
To change course will require a new, progressive one-two punch of initiatives that curb the power of big corporations and serve the public interest. In the first category: progressive taxes, revived antitrust laws, reforms to corporate governance rules to curb chief executive and shareholder excesses, financial regulation, and empowering workers to organize and bargain collectively.
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