Runaway Inequality: An Activist’s Guide to Economic Justice

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Revised, Updated Edition

Runaway inequality is now America’s most critical economic fact of life. In 1970, the ratio of pay between the top 100 CEOs and the average worker was 45 to 1. Today it is a shocking 829 to one! All the way through that time a new economic philosophy set in that cut taxes, deregulated finance, and trimmed social spending. Those policies set in motion a process that greatly expanded the power of financial interests to accelerate inequality. But how exactly does that happen?

Using easy-to-understand charts and graphs, Runaway Inequality explains the process by which corporation after corporation falls victim to systematic wealth extraction by banks, private equity firms, and hedge funds. It reveals how financial strip-mining puts enormous downward pressure on jobs, wages, benefits, and working conditions, whilst boosting the incomes of financial elites.

But Runaway Inequality does more than make sense of our economic plight. It also shows why virtually all the key issues that we face―from climate change to the exploding prison population―are intimately connected to rising economic inequality.

Most importantly, Runaway Inequality calls upon us to build a common movement to tackle the sources of increasing income and wealth inequality. As the writer makes clear, the problem will not cure itself. It’s going to take enormous energy and dedication to bring economic justice and fairness back to American society.

The book is divided into four parts:

  • Part I: What is the fundamental cause of runaway economic inequality? What has made our economy less fair and left most of us less protected?
  • Part II: How does the United States in point of fact compare with other major developed countries?  How do we stack up on quality of life, health, and well-being?
  • Part III:  What does economic inequality have to do with such a lot of of the critical issues we face, including taxes, debt, education, criminal justice, racism, climate change, foreign trade, and war?
  • Part IV: What concrete steps are we able to take to begin building a fair and just society?   

From the book: “There is nothing in the economic universe that will automatically rescue us from runaway inequality. There is not any pendulum, no invisible political force that ‘naturally’ will swing back towards economic fairness. Either we wage a large-scale battle for economic, social, and environmental justice, or we can witness the continued deterioration of the world we inhabit. The arc of capitalism does not bend towards justice. We must bend it.”

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