Unlike unemployment, which is an acute problem today with straightforward remedies confounded by the political system.
But Obama is absolutely correct. Virtually every economic problem we have today — slow growth, high unemployment, low social mobility among the underclass — is both a manifestation and a cause of economic inequality. Income inequality produces stagnating wages for middle- and working-class employees, which suppresses overall economic growth, which creates low employment. The capital-owning class spends its income at a lower rate than the working class, which consumes most of it in the near term; that reduces overall demand in the economy, causing low growth and less employment. Slow growth also suppresses public investment in schools and social programs, which create obstacles to social mobility.
The on the global front, the Rise of the AAP in New Delhi, from Waging Nonviolence:
shifting its strategy to party politics has only strengthened the movement’s momentum. A few months ago, Aam Aadmi was a curiosity; now, it’s a force in India and a call for pro-democracy movements elsewhere to step up their game.
… and another perspective from the Deccan Chronicle:
That AAP would be different from the mainstream parties was known — that was its USP, its unique selling proposition that attracted a motley band of followers, from well-heeled urban professionals to starry-eyed youngsters to auto drivers, all motivated by the possibility that a revolution is in the making. So deep is the antipathy towards the bigger parties, at least in the urban areas, that anything that looks like a viable alternative becomes attractive. The old Left parties are in a state of decline — they have run out of ideas.