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Monday, September 19, 2016

Michael Hudson — Celebrating the One Percent – Is Inequality Really Good for the Economy?

My friend Dave Kelley notes the policy message that is being repeated ad nauseam these days: the assertion that “progressive moves like taxation end up hurting the economy rather than helping it. This ‘I would feed you but you might become dependent on food’ theory is central in showing how consumer societies like ours are returning to feudal distributions of wealth.” This seems to be the policy proposal of the three leading candidates for U.S. President – in our modern post-Citizens United world where elections are bought in much the way that consulships were back in the closing days of the Roman Republic.
Naked Capitalism
Michael Hudson: Celebrating the One Percent – Is Inequality Really Good for the Economy?

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