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income inequality
Join Me in the Streets This May Day
This year, the organizers of May Day Strong are calling for everyone to participate in a new version of a general strike—with no work, no school, and no shopping—wherever you are.
Apr 30, 2026
This May Day, I’ll be one of the millions who will peacefully take to the streets to denounce the cruelty and corruption of this administration and the oligarchs it serves. I will march because I believe our lives are worth more than dollars and cents. Every one of us deserves the right to live in dignity with hope for the future. I invite you to join me.
May Day began in the 19th century, when industrial workers came together to demand something we now take for granted: an eight-hour workday. At that time, even children worked 12 or more hours straight in factories, every day. We too easily forget how far we have come, and that victories like these were won by organized people.
In 1884, there was an extreme concentration of wealth in the United States, so labor organizers called for a general strike every year on May 1 until all workers achieved “eight hours for work, eight hours for rest, and eight hours for what we will.” It took many strikes and marches, advances and setbacks, but the eight-hour workday ultimately became the law of the land in 1940.
This year, the organizers of May Day Strong are calling for everyone to participate in a new version of a general strike—with no work, no school, and no shopping—wherever you are. There will be large, peaceful marches you can easily join in cities and towns in every state.
This year, I find inspiration in everyone who has marched before me, and in all those across the country who are finding their voices as we step into the streets in this dark moment. Because it truly is up to us.
May Day Strong’s rallying cry is #WorkersOverBillionaires, at a time when the difference between rich and poor is even worse in this country than it was in the 19th century. The top 1% in this country controls more wealth than the bottom 93%, while one man—Elon Musk—controls more than 52% of American families.
Every four seconds, Musk and billionaires like him rake in more than the average person makes in a year. Extreme wealth is concentrating even more, fueled by the more than $1 trillion in tax cuts granted by the Trump administration to the ultra rich and corporations last year. But there’s more at stake than income inequality. We all know that a basic right in a healthy democracy is to have free and fair elections: While this ideal has never really been true for many of us, it’s a hard-fought right that guarantees us having a voice in how the country, and our daily lives, are run. That is precisely why it is under attack at this very moment.
That’s why the organization I lead, People’s Action, has joined May Day Strong and more than 400 partner groups across the country to host democracy bootcamps and solidarity schools, so every community can be prepared to defend democracy. You can join a solidarity school where you live, or organize your own. The materials we have developed for these trainings are freely available to anyone who wishes to use them, in English and Spanish, at organizingfordemoracy.org.
May Day has long served as an inspiration for the immigrant rights movement. For two decades, it has called for May 1 to be a “Day Without Immigrants,” as a way to show solidarity and make the work and contributions of immigrants visible to everyone.
This year’s organizers also found inspiration in Minneapolis, where faith and union leaders called for schools and businesses to close for a “Day of Truth and Freedom” on January 23, to protest the violent treatment of immigrants and peaceful protesters by federal agents.
More than 75,000 people poured into the streets of Minneapolis to express their outrage, and thousands more did in other cities. It worked: In the face of this solidarity, clear evidence the people of Minneapolis would stand together and protect each other, federal agents left the city.
Who answered the call in Minnesota? Workers of all sorts, small business owners, neighbors, mothers with children, pastors with their faithful, doctors, nurses, and teachers. That is, everyone who believes violence is never the answer, and that we all deserve better.
I am also inspired by the people of Hungary, who just ended the authoritarian rule of Viktor Orbán with their most effective tool: their votes. Despite all of Orbán’s efforts over 16 years to restrict, silence, and intimidate civil society, Hungarians united around a simple truth: They want to live in a future free from fear. Together, they won. And if they can do it, we can, too.
This year, I find inspiration in everyone who has marched before me, and in all those across the country who are finding their voices as we step into the streets in this dark moment. Because it truly is up to us. No one is coming to save us: We must rely on each other.
So I invite you to march with me this May Day, then let’s organize to win elections and protect our right to vote this November. Together, we can prove the power of organized people. I’ll be marching in Florida this year, and if you are nearby, you are welcome to join us. But wherever you are, I encourage you to do something. You will make new friends when you do.
It does not matter why, how, or when you decide it is time for a change. It could be today. What matters right now is that we show up for one another, and we learn how to organize with new neighbors to create a democracy where every one of us has a voice, a vote, and the right to live with dignity. You can choose to do this now.
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Big Oil's Post-Trump About Face Proves Corporations Won't Regulate Themselves
The sooner we stop expecting companies like Exxon to be voluntary agents of social change, the sooner we can stop the flow of hypocrisy and greenwashing and start working on resolving the social and environmental crises that blight the lives of billions.
Mar 28, 2026
President Donald Trump has long called global warming a hoax, but his sweeping anti-climate agenda has stunned even many of his supporters. Since returning to the White House, he’s withdrawn the US from the Paris Treaty, rolled back critical greenhouse gas regulations, and opened up millions of acres of previously protected public land for oil and gas drilling.
In response, big oil and gas companies have abandoned, without the slightest resistance, the showy public commitments they had previously made to climate transition. For example, BP has slashed green energy expenditures by 70%, Equinor has cut back its renewable capacity targets by almost 40%, and Chevron has reduced its carbon-reduction capital expenditures to about 5% of its total capital expenditures. None of the world’s 12 largest oil and gas companies plan to decrease fossil fuel production, and all of them project that fossil fuels will continue to overwhelm other sources of energy for the foreseeable future, according to a recent evaluation.
Far from a change of heart, this is simply Big Oil returning to form. The petroleum industry has never been serious about curbing emissions, 90% of which globally come from fossil fuels. Indeed, after decades of investment, renewables still account for a minuscule amount—about 0.13%—of total energy produced by the world’s largest 250 oil and gas companies, according to a recent research paper. “I think the article resolves the debate on whether the fossil fuel industry is honestly engaging with the climate crisis or not,” said the paper’s lead researcher. “Their interest ends with their profits.”
Some oil companies, such as ExxonMobil, continue to promise to reduce emissions to net zero by 2050. This appears to align them with the consensus of climate science that this is necessary globally to limit warming to 1.5°C (2.7°F) above preindustrial levels. However, Exxon is typical in designating a narrow target of greenhouse gases to eliminate: only those from its own operations, mainly pumping and refining oil and gas, and from buying electricity generated by fossil fuels. This conveniently ignores greenhouse gases from the consumption of its gasoline and other petroleum products, as well as those of its suppliers—which exceed by four times the total covered by Exxon’s commitment.
We should have realized that companies, like Exxon, that knowingly act in pursuit of catastrophe cannot be trusted to stop of their own accord.
Exxon wants us to believe that running its pump jacks and refineries on solar and wind power puts it on the side of the climate transition. It’s cynical buffoonery. But it’s also a sign that America’s leaders and electorate have been willfully blind. We should have realized that companies, like Exxon, that knowingly act in pursuit of catastrophe cannot be trusted to stop of their own accord. As Shakespeare might have said, “The fault, dear Brutus, is not in Big Oil but in ourselves.”
The past is prologue. Ever since the advent of industrial capitalism in America in the early 1800s, corporations have consistently served one master, shareholders, delivering them profits by open competition in free markets. From the start, elites have insisted that corporations must regard financial and social objectives as mutually exclusive, even as a single-minded quest for profitability has pushed the system to its breaking point.
We saw the injustice of this belief in the late 19th century, when “robber barons”—who had clawed their way to the top of an unregulated, chaotic economy—justified poverty wages and harsh working conditions by co-opting Charles Darwin’s new theory of evolution, popularized as “survival of the fittest.” Railroad magnate Charles Elliott Perkins—who embodied Social Darwinism by rising from office boy to president of one of the nation’s largest railroads—declared his creed: “That a man is entitled to a living wage is absurd… [If] you take from the strong to give to the weak, you encourage weakness; therefore, let men reap what they and their progenitors sow.”
Early capitalism was marred by periodic, destructive economic downturns. But over time, government acquired fiscal and monetary tools to smooth the boom-and-bust cycles and soften the hard edges of fierce profit seeking through welfare programs, especially during the Progressive Era (1890s-1920) and the New Deal (1933-1938).
However, the bedrock of the corporate mission stayed solid even as the government built new structures on top of it. During the New Deal, for example, leading industrialists joined the American Liberty League to oppose innovations like Social Security. A League leader, echoing his counterpart six decades earlier, proclaimed, “You can’t recover prosperity by seizing the accumulation of the thrifty and distributing it to the thriftless and unlucky.”
The permanent establishment of a taxpayer-funded social safety net in the postwar period only reaffirmed corporations’ unwavering fealty to shareholder value. The president of the mighty Dow Chemical Company, Leland Doan, wrote in 1957: “Any activity labeled ‘social responsibility’ must be judged in terms of whether it is somehow beneficial to the immediate or long-range welfare of the business... I hope we never kid ourselves that we are operating for the public interest per se.”
The corporate community resisted even when the tide of public opinion turned against the malign Jim Crow segregation system in the 1950s and ’60s. When US Steel was accused of workplace discrimination in 1963, prominent academic Andrew Hacker struck back forcefully: “If corporations ought to be doing things they are not now doing—such as hiring Negroes on an equal basis with whites—then it is up to government to tell them so. The only responsibility of corporations is to make profits, thus contributing to a prosperous economic system.”
Predictably, that same decade, the corporate establishment dismissed the emergence of the environmental movement. In 1962, when Rachel Carson’s Silent Spring shocked the nation by exposing the harm to human and animal life posed by the unrestricted use of pesticides, a chemical industry spokesman responded, “If man were to follow the teachings of Miss Carson, we would return to the Dark Ages, and the insects and diseases and vermin would once again inherit the earth.”
Milton Friedman, Nobel Prize-winning economist and chief economic adviser to Ronald Reagan, famously summed up the unchanging corporate consensus in words still widely quoted today: “There is one and only one social responsibility of business—to use its resources and engage in activities designed to increase its profits.”
For the most part, investors have held their noses and counted their gains. But starting almost a century ago, in 1928, when the invention of mutual funds opened up the stock market to the middle class, “ethical” funds, as they came to be known, entered the arena. They were marketed to individuals and families who wanted their portfolios to reflect their values, and to asset managers who wanted their clients to consider them good citizens.
It is folly to ask business to do the work of government.
For a long time, these socially responsible funds were a negligible part of the industry because they typically underperformed the market. These funds used a strategy called negative screening—excluding certain “sin” industries, such as cigarettes, liquor, and weapons. Unfortunately, negative screening typically yields lower returns (sin often pays in the stock market!) and greater price volatility, due to limited diversification. In addition, there is no reason to believe that negative screening has any discernible effect on stock prices, so it has no power to compel corporations to reform.
The answer to this quandary finally came in the early 2000s, in the form of a new stock-picking tool called Environmental, Social, and Governance, or “ESG” for short. The seductive promise of ESG is “doing well by doing good”—or getting rich by investing in companies that make the world better. On the back of this dream, capital invested in accordance with ESG principles has grown monumentally, to as much as $30 trillion, about one-quarter of the global total of assets under management.
ESG claims that adroitly managing environmental and social risks will improve profitability and, therefore, stock prices. But ESG only counts risks that are financially material, ignoring all social or environmental harm for which a company faces no financial penalty. As you might expect, this often bears perverse results. For example, cigarette companies kill their customers—you can’t get more anti-social than that!—but smoking is legal, and Big Tobacco rarely faces liability for cancer from smoking. That is why tobacco companies are sometimes awarded good ESG scores and even appear in some ESG stock funds. Likewise, fossil fuel companies, which have historically made high returns and avoided significant regulatory penalties, appear in 80% of ESG funds.Whether it be alcoholism, gambling addiction, gun deaths, climate change, or other iniquities, the damage that companies inflict on society without literally paying for it—or the negative externalities, as they’re called in economics—entirely escapes ESG’s radar.
Worse, the key assumption of ESG—that adept social risk management translates into higher profitability—is fundamentally unprovable. Many studies have attempted to show a strong positive correlation between specific ESG policies, like emissions reductions or heightened employee benefits, and financial metrics, like cost of debt or return on assets. But, as I explain in my forthcoming book on socially responsible investment, very few succeed. In the end, the research only allows you to draw one conclusion with confidence: that it is simply not possible to precisely define ESG practices at a granular level, measure their direct effect on financial performance, and compare these results validly across different companies.
But that does not stop ESG rating agencies from trying. ESG ratings have grown into a big business, since fund managers pay dearly for them to guide their stock selection. The rating agency reports are typically long, detailed, and quantitative—but completely unreliable. These reports may look sober and professional, like credit rating reports from companies such as S&P Global or Moody’s. But credit rating agencies are analyzing real financial values to assess a tangible corporate quality: its ability to repay its debts. The numbers are verifiable and have a proven relevance to the projected outcome. That is why credit ratings have a 90% correlation; S&P and Moody’s seldom disagree substantially on a company’s rating.
ESG ratings, by contrast, are all over the map, with a correlation of only 40%. Analysts point to three key factors: the rating agencies choose different terms to measure; they measure them with incompatible methods; and they use contradictory methodologies to combine these idiosyncratic measurements into final ratings. These discrepancies build on each other to produce wildly variant final scores. A company denigrated as a dog in ESG terms by one rating agency may be lauded as a star by another.
If ESG is just an illusion, and negative screening a disappointment, how should investors direct their capital to make corporations more socially responsible? The answer is, they shouldn’t bother.
In the game of capitalism, the role of corporations is to make as much money as they can, while playing by the rules. The role of the state, as we learned in the Progressive Era and the New Deal, is to revise the rules periodically to ensure fair play and a socially positive outcome—without hobbling the players. We do want fierce competition, but we don’t want to destroy the playing field in the process.
Today, corporate profits are at their highest proportion of GDP in 50 years, while wages are at their lowest. Overall, income inequality has never been greater, not even in the Gilded Age, the period immediately preceding the Progressive Era, when many toiled in Dickensian poverty while a few, like the Vanderbilt dynasty, flaunted their extravagant and lavish lifestyles. Now, like then, the people, with justification, are losing faith in the system.
Like our Progressive forebears, we will have to revamp capitalism in order to rescue it. Key objectives must include rebuilding organized labor, since what benefits unions benefits the middle class. We’ll also need to break up de facto corporate cartels that stifle competition, squeeze wages, and lower productivity. To counter the existential threat of climate change, we need a cap-and-trade system that makes industry a partner in carbon reduction, not an opponent, and can serve as a model for other public-private partnerships.
It is folly to ask business to do the work of government. The sooner we stop expecting companies like Exxon to be voluntary agents of social change and acknowledge that they are amoral profit machines, the sooner we can stop the flow of hypocrisy and greenwashing and start working on resolving the social and environmental crises that blight the lives of billions. The path to greater corporate social responsibility leads through the voting booth and the statehouse, not through Wall Street and the C-suite.
This piece was originally published by The MIT Press Reader.
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It’s 2025. The AI Revolution Is Destroying the American Dream
The rise of AI will exacerbate income inequality throughout the country, and it’s the government’s duty to step up and take care of its citizens when required.
Nov 07, 2025
In 2019, the New York Times published a series of op-ed columns “from the future,” including one from 2043 urging policymakers to rethink what the American Dream looks like amid an AI revolution.
Well, it’s only 2025, and the American Dream is already in jeopardy of dying because of AI’s impact.
Earlier this year, Anthropic CEO Dario Amodei warned of a “white-collar bloodbath,” which was met with criticism by some of his tech colleagues and competitors. However, we’re already seeing a “bloodbath” come to pass. Amazon is preparing to lay off as many as 30,000 corporate employees, with its senior vice president stating that AI is “enabling companies to innovate much faster.” As it (unsurprisingly) turns out, CEOs across industries share this same sentiment.
We’re seeing the most visible signs of this “bloodbath” at the entry level. Recent graduates are having difficulty finding work in their fields and are taking part-time roles in fast food and retail in order to make ends meet. After being told for years that going to college was the key to being successful, up-and-coming generations are being met with disillusionment.
If Americans can’t reach a decent standard of living now, they’ll be worse off as the AI revolution marches forward.
Despite dire statistics and repeated warnings from researchers and economists alike, people at the decision-making table aren’t listening. White House AI czar David Sacks brushed off fears of mass job displacement this past summer, and adviser Jacob Helberg dismissed the idea that the government has to “hold the hands of every single person getting displaced” by AI.
Unlike the hypothetical 2043, there aren’t people marching in the streets demanding that the government guarantee they’ll still have livelihoods when AI takes their jobs—yet. However, this prediction could easily come true. Life is already unaffordable for the majority of Americans. Add Big Tech’s hoarding of the wealth being created by AI and inconsistent job opportunities, and we could have class warfare on our hands.
OpenAI’s Sam Altman perfectly encapsulated the ignorance of Silicon Valley when he implied that if jobs are replaced by AI, they aren’t “real work.” It’s no surprise that Altman, who has profit margins reaching the billions, doesn’t understand that jobs aren’t just jobs to middle-class families; they are ways for Americans to build their livelihoods, and ultimately, find purpose. Our country—for better or for worse—was built on the idea that anyone could keep their head down, work hard, and achieve the American Dream. If that’s no longer the case, then we must rethink the American Dream itself.
We can’t close the Pandora’s box of AI, nor should we. Advanced AI will bring about positive, transformative change in society if we utilize it correctly. But our policymakers must start taking AI’s impact on our workforce seriously.
That’s not to say there aren’t influential leaders already speaking out. In fact, concerns about AI’s effects on American workers span party lines. Democratic Sen. Chris Murphy wrote a compelling essay arguing in part that there won’t be enough jobs created by advanced AI to replace the lost jobs. Republican Sen. Josh Hawley is pushing the Republican Party to make AI a priority in order to be “a party of working people.” Independent Sen.Bernie Sanders released a report revealing that as many as 100 million jobs could be displaced to AI and proposed a “robot tax” to mitigate the technology’s effects on the labor force—another version of universal basic income (UBI).
Now, I won’t pretend to know the best policy solution that will allow Americans to continue flourishing in the AI era. However, I do know that the rise of AI will exacerbate income inequality throughout the country and that it’s the government’s duty to step up and take care of its citizens when required.
This starts by looking at how we can rebuild our social safety net in an era where Americans do less or go without work altogether. For millions of Americans, healthcare coverage is tied to their employment, as are Social Security benefits. If Americans aren’t employed, then they can’t contribute to their future checks when they’re retired. This leads to questions about the concept of retirement. Will it even exist in the future? Will Americans even be able to find happiness in forced “retirement” without an income and without the purpose provided by work?
It’s easy to spiral here, but you get the point. This is a complicated issue with consequences that we’ll be reckoning with for years to come. But we don’t have that kind of time. If Americans can’t reach a decent standard of living now, they’ll be worse off as the AI revolution marches forward.
It’s 2025, and AI is already transforming the world as we know it. In this economy, we must create a new American Dream that allows Americans to pursue life, liberty, and happiness on their own terms.
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