The Wall Street Journal features a long piece today noting the growth in inequality and what the Democrats might do about it. Remarkably, the article never once examines how the government, under both Democratic and Republican administrations, has structured the market in ways that shift income upward.
Can a Wall Street Journal reporter really not have noticed that U.S. trade and immigration policy has been focused on putting less educated workers in competition with the developing world, while largely protecting highly paid professionals like doctors, lawyers, and Wall Street Journal reporters from having to compete with their counterparts in the developing world? Do Wall Street Journal reporters think that the patents and copyrights that made Bill Gates and the Silicon Valley kids rich came from god?
Posing the question as one where the government is trying to redress inequality generated by the market is stacking the deck. The government structured the market in ways that lead to massive inequality. The market can be structured other ways. Yes, this is yet another pitch for the Conservative Nanny State. But, remember, the book can be downloaded for free, and once you read it, you will never be as ignorant as a Wall Street Journal reporter again.
I’m writing to you today with a sense of urgency that I haven’t felt since I began my journalism career. As executive editor of The American Prospect, I’ve witnessed firsthand how independent journalism serves as a crucial bulwark against the erosion of our democratic institutions. Today, that role is more vital than ever. Can you step up today and show your support?
The winds of authoritarianism are blowing stronger. We’re seeing alarming signs of a coordinated effort to silence critical voices and undermine the very foundations that support progressive causes. As Bob Kuttner presciently wrote in our August 2024 issue, a weaponized IRS could attack the very foundations of the progressive movement. We need readers to step up and help us dig in for the long haul.
We’re falling behind in our spring fundraising campaign, and with so much at stake we can’t afford to come up short. If you value fearless, independent journalism that holds the powerful accountable and defends democracy, now is the time to step up. The American Prospect depends on reader support to stay in the fight. Pitch in today and help us close the gap. Please consider making a donation today.
–David Dayen, Executive Editor
Copyright 2025 | The American Prospect, Inc. | All Rights Reserved
