What needs to be redistributed?

Norman-Rockwell-Freedom-of-Speech-1943The people in the upper 1 percent income bracket are getting richer, and most of the rest are falling behind or barely keeping even.  But I don’t think wealth or income as such need to be redistributed.  What this country needs is a redistribution of political and economic power.

I would like to see a world in which labor unions, producer cooperatives and consumer cooperatives are equal in power and status to business corporations, and labor unions, consumer and environmental associations and community organizations are equal in power to business assocaitions.

Then it would be possible to deal with issues of corporate governance, monopoly power, labor relations, election laws, government transparency, conflicts of interest and all the other systemic means by which a tiny elite can milk the system for their own benefit.

As Justice Oliver Wendell Holmes Jr. supposedly said, there can be no freedom of contract without equality of bargaining power.  If power is widely distributed, the distribution of wealth and income will take care of itself.

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