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Economy
In reply to the discussion: Weekend Economists Revelations and Reviews April 26-28, 2013 [View all]DemReadingDU
(16,000 posts)42. Paul Farrell: Capitalism is killing our morals, our future
4/27/13 Paul Farrell: Capitalism is killing our morals, our future
Yes, capitalism is working ... for the Forbes 1,000 Global Billionaires whose ranks swelled from 322 in 2000 to 1,426 recently. Billionaires control the vast majority of the worlds wealth, while the income of American workers stagnated.
For the rest of the world, capitalism is not working: A billion live on less than two dollars a day. With global population exploding to 10 billion by 2050, that inequality gap will grow, fueling revolutions, wars, adding more billionaires and more folks surviving on two bucks a day.
Over the years weve explored the reasons capitalism blindly continues on its self-destructive path. Recently we found someone who brilliantly explains why free-market capitalism is destined to destroy the world, absent a historic paradigm shift: That is Harvard philosopher Michael Sandel, author of the new best-seller, What Money Cant Buy: The Moral Limits of Markets, and his earlier classic, Justice: Whats the Right Thing to Do?
For more than three decades Sandels been explaining how capitalism is undermining Americas moral values and why most people are in denial of the impact. His classes are larger than a thousand although you can take his Harvard Justice course online. Sandel recently summarized his ideas about capitalism in the Atlantic. In What Isnt for Sale? he writes:
Without being fully aware of the shift, Americans have drifted from having a market economy to becoming a market society ... where almost everything is up for sale ... a way of life where market values seep into almost every sphere of life and sometimes crowd out or corrode important values, non-market values.
Click link to read more...
http://www.marketwatch.com/story/capitalism-is-killing-our-morals-our-future-2013-04-27
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I see someone noticed that we noticed they were not posting bank failures, well done.
kickysnana
Apr 2013
#17
Our new Chair of the Florida Democratic Party was a lobbyist for ChoicePoint in 2000.
Fuddnik
Apr 2013
#31
Also ex-mployees who have survived the worst will not do anything to keep their jobs.
kickysnana
Apr 2013
#18