The middle class share of American wealth has gone to the very rich
By Dr. Larry Fedewa (April 7, 2019)
For the past three weeks, The Dr. Larry Show (www.blogtalkradio.com/LA-Batchelor/ or at 646-929-0130; 7 -8 pm every Wednesday) has been discussing the “wealth gap” in 2019 America. Now, it’s time to get back to basics.
Q. What is the “wealth gap”?
A. This term refers to the present and growing concentration of financial assets (cash, stock, real estate, intellectual properties such as patents, copyrights, and royalties, etc.), and all forms of passive income to the control of fewer and fewer people (1% of the population) while the middle-class controls less and less of the nation’s wealth. The word, “wealth”, is used instead of “income”, because the value of assets is frequently allowed to appreciate untouched ( e.g. to avoid taxable income). Money comes and goes in the form of income; assets are for long-term welfare.
Q. Is there really a wealth gap in America? Surely there will always be differences in wealth.
A. The changes in the proportion of the nation’s wealth held by individuals over time are clearly traceable statistically. This trend can and has been analyzed by experts for decades. Currently, nearly 80% of America’s wealth is held by 1% of the U.S. population.
Is Christmas relevant in 2018?
by Dr. Larry Fedewa, December 22, 2018
As we look around at the Christmas decorations, programs,
ceremonies, shopping, cards, greetings and the whole
Christmas season, what messages do we get?
What does it all mean?
Clearly, something unusual and good is in the air. People seem friendlier, parties and benefits are everywhere. Charities, soap kitchens, and the Salvation Army are busier than usual.
When we think of the origin of Christmas, we realize that it began as a celebration of the birth of Jesus Christ. Today, however, it is possible to go through the entire Christmastime without ever hearing that name. Many children are taught that the central figure of Christmas is Santa Claus on his mission of kindness and goodwill.
[Author’s Note: This essay is not in my usual sandbox, perhaps too philosophical for some. But I just couldn’t resist!!]
By Lawrence J. Fedewa
John Daniel Davidson’s critique of Jonah Goldberg’s “Suicide of the West” (The Federalist, May 14, 2018) is as thought-provoking as the book he is analyzing. However, there is an alternative view that undermines all the theories of liberal democratic capitalism’s life support – including those of C.S. Lewis and Patrick Deneen. The basic argument of all these theories is that liberal democratic capitalism must have an anchor to maintain its connection to reality. The anchor might be religion, science, culture, or something else. Without a viable anchor, we are faced with contemplating what a very wise colleague of mine used to say, “The Enlightenment is an interesting experiment; I wonder how it will end.”
The possibility of its death becomes more imminent, it seems, not because of its suicide or of its self-inflicted wounds. Liberal democratic capitalism needs an anchor which is recognizable by the millions of those who are living, consciously or unconsciously, under its spell, i.e. its world view. The reason the anchors of the past do not work for the people of today is that these anchors are put forth in a language that they do not understand.
The scientific patois of the Enlightenment finds it hard to understand a God who is omnipresent but invisible, just as it stumbles when confronting all the choices we must make with no clear scientifically established criteria to rely on. The fundamental dilemma of modernity is that it has produced scientific miracles by rejecting appearances in favor of tangible evidence, but, in the process, it has also eliminated certainty. Yet some level of certainty is necessary in order for us to have confidence in our life decisions. It is here that we reach the limitations of a scientific world view. The scientific method has not produced enough reliable knowledge to guide human ethics.