As the Senate debates Donald Trump’s future, chief executives, financiers and politicians have assembled in Davos, Switzerland, for their annual self-congratulatory defense of global capitalism.
The events are not unrelated. Trump is charged with abusing his power. Capitalism’s global elite is under assault for abusing its power as well: fueling inequality, fostering corruption and doing squat about climate change.
Chief executives of the largest global corporations are raking in more money and at a larger multiple of their workers’ pay than at any time in history. The world’s leading financiers are pocketing even more. The 26 richest people on Earth now own as much as the 3.8 billion who form the poorer half of the planet’s population. Continue reading.