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It may be time to play a dirge for the American middle class.
While many American families enjoyed rising prosperity in the decades following World War II, those wealth gains have eroded, leaving the middle-class poorer than anytime since the 1940s, according to new research from economists Emmanuel Saez of University of California, Berkeley and Gabriel Zucman of the London School of Economics.
At the same time, the richest Americans have become richer, putting their share of wealth at the dizzying heights only seen during the era of “The Great Gatsby” and the Gilded Age of the robber barons, the researchers note. FULL ARTICLE
THE DAILY BEAST
In 2007, when the Charles Koch Foundation considered giving millions of dollars to Florida State University’s economics department, the offer came with strings attached.
First, the curriculum it funded must align with the libertarian, deregulatory economic philosophy of Charles Koch, the billionaire industrialist and Republican political bankroller.
Second, the Charles Koch Foundation would at least partially control which faculty members Florida State University hired.
And third, Bruce Benson, a prominent libertarian economic theorist and Florida State University economics department chairman, must stay on another three years as department chairman—even though he told his wife he’d step down in 2009 after a single three-year term.
The Charles Koch Foundation expressed a willingness to give Florida State an extra $105,000 to keep Benson—a self-described “libertarian anarchist” who asserts that every government function he’s studied “can be, has been, or is being produced better by the private sector”—in place.