It’s important to stress that this is a new pattern. In the stone ages of my youth, top earners in investment banking were on a par roughly with top heart surgeons and when someone became a partner at Goldman, his cash compensation fell sharply. The old line was that partners lived poor and died rich.
And their aspirations were modest by contemporary standards: a nice apartment in the better sections of the Upper East side, having their kids in private schools, and having a summer home, likely in the Hamptons (which were much cheaper then than now).
Unrepentant Marxist: Thoughts on Arizona On why it’s a mistake to obsess over Palin’s graphic design choices:
I think what leftists have to understand is that violence and repression today directed against the popular movement is far more based on legality than mob violence or terrorism.
Arizona’s reactionary stew is a product of class antagonism that is leading toward a showdown between the rulers and working people. The ruling class is using “legal” methods to keep working people and oppressed nationalities under its thumb, even as we understand that its tactics might change in the future, as antagonisms grow irreconcilable. But if we cannot base our own strategy and tactics on the true relationship of class forces, then we will end up making mistake after mistake.
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