Wednesday, September 25, 2013

Jonathan Larson — Class still matters

It’s an old joke, but it bears repeating: An Oxford professor meets a former student on the street. He asks what he’s been up to lately. The student tells him he’s working on a doctoral thesis about the survival of the class system in the United States. The professor expresses surprise. “I didn’t think there was a class system in the United States,” he says. “Nobody does,” the student replies. “That’s how it survives.” — David Macaray
real economics

Class still matters
Jonathan Larson

Without consideration of class structure and power, economics is jive, and the result is what Michale Hudson as labeled "junk economics."

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