Gregg Peterson claims that Nick Schultz erroneously shifts the blame to three “realities”. Both Peterson and Schultz make very valid arguments for their respective positions. Karl Marx, in his Communist Manifesto, predicted that Capitalists(hedge funds, huge corporations, etc.) will always eventually exploit the proletariat(working stiffs)
As for Peterson’s belief that corporate greed is the cause of the upward distribution of wealth…..Well, sorry Gregg, just think of Wall Street as the dominant lion in the pride. If Gregg were a CEO of an “uncaring corporation” he would certainly find some way to rationalize his position.
Nick Schulz shifts the blame for grotesque income inequality to three “realities”: technology, immigration and the collapse of intact families.
I suggest it’s uncaring corporate greed that drives good-paying jobs overseas and middle-class incomes down.
As for keeping families intact, it certainly doesn’t help when hedge funds buy the companies we’ve worked for our entire lives, lay everyone off, sell the pieces for a profit, then simply move on to the next acquisition. To what end, I ask?
The answer is always “the bottom line.” Greed, plain and simple, is the culprit for this upward distribution of wealth.