In September of 2011 Occupy Wall Street lit a match to a movement. Today that movement is known for what it did and didn’t do. Occupy connected income inequality to political corruption and put both issues at the center of our political debate. What it didn’t do, by design, was provide a blueprint for economic reform or build a more institutional movement to secure it.
what we now have, an economy that outperforms nearly all other developed nations and a middle class that underperforms the one in Canada. Some people are better off. Unemployment is down. CEO pay rose 37 percent while workers’ wages shrank by 0.6 percent. Never before have average wages fallen as the economy grew. The number of people living in poverty also rose, another first for an economic expansion.
We’ve fixed little even of what we acknowledged was broken in 2009. Banks we called too big to fail are bigger now; the 10 biggest now control over 50 percent of all our financial assets. JPMorgan Chase deposits have grown 29 percent. Small banks, on the other hand, are an endangered species. In 1995 we had over 12, 000 banks. Today there are fewer than 7,000, the fewest since the Great Depression.
via What would Paul Krugman do: Imagining the plan which defeats the ultra-rich – Salon.com.