Recently released statistics show increases in both executive compensation and the number of people who went hungry last year. This appalling correlation is the result of massive bailouts for the rich and complete indifference to the suffering of poor and working people.
Last year, roughly 50 million people were “food insecure” and forced to either eat less or skip meals to make ends meet. One million children regularly went entire days without eating. Over the same period of time, average bonuses for corporate executives increased 11 percent to $1.6 million and average compensation increased by 3 percent to $7.2 million.
This is a shocking illustration of the criminal nature of capitalism. While the millionaires and billionaires whose wildly speculative practices just rocked the world’s economy are rewarded with million-dollar bonuses, the working class, which creates the wealth of society, is left to starve. Ultimately, such horrifying injustices cannot be remedied by simple reforms. The capitalist system itself must go.
