The economist Jim Stanford has a revised edition of his book Economics for Everyone. It is a great primer for everyone interested in economics from a progressive point of view. The book came from his work as an economist for the CAW and then UNIFOR where he developed and on-line course in economics. The book covers the basics of capitalism and then looks at its complexity ending up with a section Challenging Capitalism.

For more background information and related materials go to www.economicsforeveryone.com . You can even get materials to run your own course based on the book.

One interesting set of graphs from his book (shown below) dramatically illustrate the rise of inequality and income distribution in our society.

labour shareUS1%

Since most people derive their income from wages the drop in labour compensation as a share of GDP from 55% to 50% is a significant drop. The related top 1% share of total income in the US shows a huge increase since the 70’s. (Probably similar in Canada)

How can these changes be reversed? Read Jim’s book for some interesting ideas on challenging capitalism.