![]() ![]() That story would suggest that oligarchy’s devastating consequences fall heaviest on the racially disadvantaged-especially black Americans-who therefore have the most to gain from mobilizing against the billionaires. “As a political rallying cry, ‘We are the 99 percent’ tells a particular story about race and capitalism, and how these forces intersect to produce economic inequalities.”Īs a political rallying cry, “We are the 99 percent” tells a particular story about race and capitalism, and how these forces intersect to produce economic inequalities. ![]() In 2015 Senator Bernie Sanders took up the “99 percent” narrative as the rhetorical centerpiece of his presidential primary campaign, speaking out against “elite” schemes to “rig” the economy. Most notably, the 2011 Occupy Wall Street movement formed in the wake of the financial crisis to voice loud opposition against the “1 percent” of Americans who plunder the economy at the expense of the “99 percent”: that is, the everyday people from a variety of class backgrounds who are increasingly burdened with exorbitant student debt, dim employment prospects, underwater mortgages, skimpy healthcare, and more. Capitalism’s widening chasm between the ultra-rich and everyone else has emerged as a leading concern in American politics. ![]()
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