Broad expose – Substance News

21 Jun

The historically unprecedented explosion of wealth in recent decades for the top one percent of the American populace is leading to a reshaping of the American economy in the interests of this one percent. Having more wealth than they know what to do with, many of the corporate leaders, hedge fund managers, and bankers are putting their wealth into “venture philanthropies”. They hope to advance an unregulated, free market economy which requires the destruction of the advances towards social equality made in American society during the 20th century due to the struggles of the civil rights movement in the sixties and the labor movement in the thirties. Incubated in the economic Wild West days of the G. W. Bush administration until the financial crisis of 2008, these venture philanthropies continue to seek to bring the business practices of the banking, corporate, and hedge fund manager world to all sectors of the U.S. economy through privatization.

Eli Broad.Nowhere is this more evident than in the full-scale assault on public education that has been escalating for the last ten years since the Bush administration instituted the No Child Left Behind law in 2001. Basing itself on rating schools by high stakes testing, combined with declining federal support for education, NCLB has led to wide scale vilification of public school teachers for social conditions over which they have no control. This is being used all over the country as a pretext for closing schools in mostly urban school districts with large numbers of low-income families. As a result, we once again are faced with an increasingly segregated educational system where the children of middle class and slightly better off working class families are transferred into charters which are given advantages in student selection and funding, while the children of low income families are increasingly being left behind in deteriorating public schools. These ever worsening urban public school systems which, already having been inequitably funded for decades compared to wealthy suburban school districts, are being systematically starved of funding. More…

via Broad expose – Substance News.

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