It feels like America’s working class has been losing the class war for as long as we can remember. But it has one wildly powerful, often forgotten tool: trillions of dollars sitting in pension funds. Might this enormous pool of capital be labor’s greatest weapon in its fight against the power of capital itself?
America’s pension system is a disaster. The great dream of “market-oriented” types is that our retirement problems can be solved by making everyone invest their own money via 401(k) plans. But... how does that work, again?
One of the greatest cons in modern political history is the Republican Party’s success at casting themselves as the responsible economic party. It’s true, I guess, as long as you assume that anyone making below the median income needs to die.