Cornell law professor Joseph Margulies debunks the notion that the poor are poor because they are lazy, while the rich are rich because they are industrious. Margulies distinguishes the stock market, in which 84 percent of all stocks owned by Americans are held by the wealthiest ten percent of American households, from the general economy and point out that for the poorest half of Americans—roughly 160 million people—the stock market is meaningless.
UF Levin College of Law professor Neil H. Buchanan continues his series of columns attempting to find optimism in what he describes as “post-constitutional life in America.” In this installment, Buchanan notes that President Trump’s reactions to COVID-19 are a reason for optimism because they reflect a fear that a pandemic (and market responses to a pandemic) could threaten his hold on the White House.
Cornell law professor Joseph Margulies points out that when a nation doesn’t have the money to fix its roads but does give money away to help the rich get richer, that is a sign of a nation in collapse. Margulies describes the shift to neoliberal thinking under Nixon that has produced record levels of economic inequality and explains why the Trump administration’s proposed economic policies would benefit only the rich.
Cornell University law professor Joseph Margulies observes that the stock market—which tends to disregard even unusual events that within a range of predictability—reflected no surprise at the extraordinary carnage of three mass murders over a period of five weeks. Margulies points out that US stock markets saw steady growth despite Stephen Paddock shooting and killing nearly 60 people and wounding over 500 more in Las Vegas; Sayfullo Saipov killing eight people and seriously injuring over ten others in Manhattan; and Devin Patrick Kelly killing 26 people and injuring 20 more in Sutherland Springs, Texas. Does this truly mean that human destruction on a scale like this has no impact on national life?
