Home > Economy > Watch John Oliver Brilliantly Destroy the Myth of Economic Mobility in America | mic.com

Watch John Oliver Brilliantly Destroy the Myth of Economic Mobility in America | mic.com

In just 15 minutes, John Oliver perfectly summed up the utter absurdity of America’s attitude toward income inequality.

The clip from Sunday’s episode rips apart the myth that hard work is the solution to cutting down the wealth gap, and instead echoes what economists and CEOs alike know to be true: Inequality is a massive problem. Oliver argues that nobody wants to fix it because we foolishly believe we, too, will someday be part of the 1%.

For more on this story, visit: Watch John Oliver Brilliantly Destroy the Myth of Economic Mobility in America – Mic.

One comment

  1. It’s great that we can watch this without even having to leave peacenews.org.
    John Oliver has really summed up the main economic issue in the way of progress. AND THE TRUTH IS FUNNY.
    He points out why the political system has been neutralized as an engine of economic equity, and why things will only get worse. (I long for the first female President, but anyone who foresees Hillary doing anything meaningful about income inequality must love Clinton Kool-Aid.)
    Technology is a wonderful thing because it brings technical progress, increasing our capabilities, minimizing inefficiencies, and overcoming limitations, but only when it is joined with social progress. Otherwise the surplus is sucked away by those who own the means of production, fueling income inequality and mass unemployment. Those who are unemployed will work for less, creating another driver for inequality. Income inequality leads to every other kind of inequality and gets built into our institutions and systems, reversing social progress. Then more technology, and the cycle continues. One type of technology is the ability to manipulate millions into voting consistently against their own interests, identifying their interests with those of the 1%.
    Last time it took a catastrophic economic depression, cured only by war, to break that cycle. What will it take next time, or is there a next time?

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