Our economy would become the world’s most innovative, our elites have assured us over the past 30 years, if we gave our rich enough incentives to innovate. We kept to our end of the bargain. So where’s the innovation?
Friends of the financially fortunate are trying to turn reality upside-down — and save our undertaxed rich mega billions in the process.
Some Americans get all bent out of shape when they hear someone label the United States a ‘plutocracy.’ But if we have an honest-to-goodness democracy, where the people really rule, then how can we explain Goldman Sachs?
Republicans in Congress have introduced a breathtaking new budget plan that would essentially put America’s plutocracy on steroids.
To really reform big bank behavior, we need to scuttle the pay system that ‘entitles’ Wall Streeters to however much loot they can grab.
The new conservative ‘Mount Vernon Statement’ unveiled last week claims that right-wingers are upholding what the Generation of 1776 held dear. But those right-wingers, history shows, are conveniently overlooking what the Founders truly feared. A review of Securing the Fruits of Labor: The American Concept of Wealth Distribution 1765-1900 by James Huston.
Economists tend to add more to the aggravations of everyday life than explain them. Not this economist. A review of Economics for the Rest of Us: Debunking the Science that Makes Life Dismal by Moshe Adler.
But Wall Street’s mainstream critics still can’t bring themselves to challenge the top executive ‘right’ to reap enormous riches.
Don’t expect an answer from the ranters and ravers who frequent ‘Tea Parties’ — or the politicians who egg them on.