Wednesday, July 30, 2014

Steve Keen — The revolt of (part of) the top 1% of the top 1%

What are your preconceptions about the author of a book with the title The Next Economic Disaster: Why It’s Coming and How to Avoid It? Academic? Leftist? Anti-capitalist? Anti-banker certainly?

Prepare to drop them all, because the author is none of the above. Taking the last first, the majority of his career has been in banking — and as a founder and CEO.…
So what is someone who established banks, initiated credit card companies, and is clearly in the top 1 per cent of the top 1 per cent of America doing writing a book that warns of the dangers of private debt?… 

When the poor and the dispossessed complain about inequality, it’s only to be expected. But when part of the top 1 per cent of the top 1 per cent complain about it, it is truly time to worry — and preferably to act.
Real-World Economics Review Blog
The revolt of (part of) the top 1% of the top 1%
Steve Keen

See also US median wealth is down by 20 percent since 1984

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