Friday, October 14, 2011

"Capitalism and Poverty"

Richard D. Wolff, "Capitalism and Poverty"

For those 'better-off,' they must search out and understand the true picture...

"America's poverty line works out to $15 per day per person for everything: food, clothing, housing, medical care, transportation, education, and so on. If you have more than $15 per day per person in your household to pay for everything each person needs, the Census Bureau does not count you as part of this country's poverty problem.

So the real number of US citizens living in poverty -- more reasonably defined -- is much larger today than the 46 million reported by the Census Bureau. It is thus much higher than the 15% of our people the Bureau sees as poor... conservatively estimated, about one in four Americans already lives in real poverty.

A report from the Children’s Defense Fund finds child poverty jumped 10% between 2008 & 2009.
... the single largest annual jump in the data’s history.

Another one in four is or should be worried about joining them soon... and no wonder such a system has provoked Occupy Wall Street (OWS) and so many of its signature slogans and demands.

A serious commitment to end poverty and its costly social effects requires us to face that capitalism has always reproduced widespread poverty as the other side of profits for a relative few."