wealth

wealth


Do Politicians or Wealthy Activists Sustain Political Dysfunction?

politicians December 14th, 2018

I aim to approach the question, Is it politics that is causing the heart of the problem in America? Clearly, when the approval of Congress is below 25%, most people think that the first branch of government has some serious structural and/or functional flaws. However, when one looks at the influence of unregulated money in politics, one can see that perhaps it is the great wealth of that 5,000 American movers and shakers who wish to drastically affect the political process in a way that the founders of this country could not have imagined. So, which should we change to make the most, lasting change: reform politics as usual, or prevent the wealthy and powerful from having an outsize influence on politics? 

Read More

Myths of America’s Capitalistic System

myths of America's capitalistic system November 11th, 2017

Joseph Stiglitz is l professor of economics at Columbia University. He wrote many books, and the one I recently read was The Price of Inequality. Really a tour de force. He has a conscience, is extremely qualified (he was with the World Bank until they fired him, has a Nobel Prize, etc.), and writes in a manner that is easily grasped. Here are some myths he brings up in his powerful and well-researched book on inequality. They are myths of America’s capitalistic system – perhaps a better word is our crony-capitalistic system. If free market capitalism is problematic, crony capitalism downright stinks.

Read More