HomeUncategorized5/2 News Roundup & Open Thread – 10,000 Teachers Rise Up In Deep Red South Carolina, Sanders’ Campaign Machine Is Crushing It & More
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https://truthout.org/articles/in-us-and-uk-the-working-and-middle-classes-are-under-attack/

The crises affecting the political economies of the U.K. and U.S. are strikingly parallel. The 2008 capitalist crash hit and hurt both badly. Each arranged government bailouts of their major banks and many large corporations. After 2008, they both imposed real economic suffering — austerity — on the mass of their people. Finally, in both countries, pre-2008 trends toward greater economic inequality accelerated post-2008. Those trends in turn provoked deepening political and cultural divisions.

The official government economic policies in both countries did little or nothing to change the basic conditions that brought on the 2008 crisis. That is partly why the trends toward greater inequality continued after 2008. In contrast, after the 1929 crash, inequality had decreased. In those years, radical militancy surged within the labor movement, in socialist and communist parties, and thus within the coalitions among them. That militancy moved politics to the left, creating or increasing social welfare programs paid for with tax increases on corporations and the rich.

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