EUROPEUS

(By GEORGE IRVIN / Source: EU Observer) President Bush's ‘Yo Tony'off-the-record humiliation of Blair elicited much mirth in the UK press where the incident was widely interpreted as emblematic of the British prime minister's subservience to Washington's neo-conservative agenda. How far that agenda encompasses the distribution of income is illustrated in a recent book by Jared Bernstein, a Washington based economist, who documents the growing inequalities of wealth and income in the US. Bernstein has coined the phrase ‘Yo-Yo economy' to describe conservative America's attitude towards its growing army of poor people: Today, ‘Yo-Yo' means ‘you're on your own'. (read more)