Middle Class Stagnation
Chrystia Freeland Keynotes - The Chrystia Freeland speeches focus on global inequity, the rise of the new global rich and the...
There are many causes for the stagnating middle class, some political (lower taxes, deregulation of financial institutions and privatization to name a few), but the two biggest culprits according to the income inequality speech are globalization and crony capitalism. Freeland fears meritocratic plutocracy will result in a new aristocracy. She puts the economic transformation Western society is undergoing on the same scope and scale as the industrial revolution, requiring a new New Deal.