Matthew

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For many Americans, oligarchy meant the warping of time, the loss of a sense of the future, the experience of every day as repetitive stress. When economic inequality suppresses social advance, it is hard to imagine a better future, or indeed any future. As an American worker put it during the Great Depression of the 1930s, fear “does distort your outlook and your feeling. Lost time and lost faith.” An American born in 1940 was almost certain to make more money than his parents. An American born in 1984 had about a fifty-fifty chance of doing the same. Billy Joel’s 1982 song “Allentown,” which ...more
The Road to Unfreedom: Russia, Europe, America
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