An Indictment of the Invisible Hand

Thomas Piketty's 700-page book, Capital in the Twenty-First Century, has stunned both the economic profession and most political observers. But the economic mainstream is not truly dealing with its most serious implications even as they widely praise his work.
Here in a nutshell is what he argues: Current rates of inequality are closer to historical norms than aberrations. Inequality is likely to stay high and perhaps increase. The normal workings of the free market won't change this. The only way to rectify the imbalance is more aggressive taxes on property and high incomes to reduce inequality.

Read more at http://www.truth-out.org/news/item/23178-an-indictment-of-the-invisible-hand

Chris Hedges- The Collapse of Complex Societies

The tea party radio network

Glenn Beck worked the crowd like a preacher at a rally this month in Louisville, Ky., declaring that God had responded to conservatives’ prayers by sending a slate of tea party candidates to wrest control of the Republican Party from Mitch McConnell.

But there was a more earthly benefit to the arrangement that brought Beck to the rally. It was organized by the tea party nonprofit group FreedomWorks, which had endorsed the candidates — and which has paid more than $6 million in recent years to have Beck promote the group, its initiatives and events.

The FreedomWorks-Beck relationship is just one example of a powerful and profitable alliance between the conservative movement’s most aggressive groups and the most popular radio hosts. The details of the arrangements are little-known, but they have been lucrative for the recipients, and, in turn, have helped ensure that the groups get coveted airtime from hosts with a demonstrated ability to leverage their tens of millions of listeners to shape American politics. It’s an alliance that helped spawn the anti-establishment tea party and power Republicans to landslide victories in the 2010 midterms. It’s also exacerbated congressional gridlock by pushing a hard line on the budget, immigration and Obamacare, and it is roiling the Republican Party headed into critical midterm elections.

Read more at http://www.politico.com/story/2014/04/tea-party-radio-network-105774.html?hp=t1