Those of you who have read my book, or who read this blog regularly, will understand the following two pieces instantly ...
In my book I discuss the difference between wealth creation and wealth extraction. This article from NY Times' columnist Paul Krugman (hat tip to Brian) helps explain the mechanics behind wealth extraction ...
This SF Chronicle article from Robert Reich - which discusses Wall Street's dependence on bailouts, and their subsequent government escorted record profits - helps explain why Wall Street is its own worst enemy.
Both pieces help us understand why the moral justification of capitalism is in trouble. In a few words, Wall Street is destroying what most of us understand to be the integrity of the market.
- Mark
In my book I discuss the difference between wealth creation and wealth extraction. This article from NY Times' columnist Paul Krugman (hat tip to Brian) helps explain the mechanics behind wealth extraction ...
This SF Chronicle article from Robert Reich - which discusses Wall Street's dependence on bailouts, and their subsequent government escorted record profits - helps explain why Wall Street is its own worst enemy.
Both pieces help us understand why the moral justification of capitalism is in trouble. In a few words, Wall Street is destroying what most of us understand to be the integrity of the market.
- Mark
It's funny you mention this. Rick Santorum just said he has "no problem with income inequality."
ReplyDeletehttp://www.huffingtonpost.com/2011/12/20/rick-santorum-iowa-caucus-2012-income-inequality_n_1161061.html