Paul Krugman -- Bloice's Quote of the Day -- Nov 27, 2011

Quote of the Day 
November 26, 2011

'Still, don't some of the very rich get that way by
producing innovations that are worth far more to the
world than the income they receive? Sure, but if you
look at who really makes up the 0.1 percent, it's hard
to avoid the conclusion that, by and large, the members
of the super-elite are overpaid, not underpaid, for
what they do.

'For who are the 0.1 percent? Very few of them are
Steve Jobs-type innovators; most of them are corporate
bigwigs and financial wheeler-dealers. One recent
analysis found that 43 percent of the super-elite are
executives at nonfinancial companies, 18 percent are in
finance and another 12 percent are lawyers or in real
estate. And these are not, to put it mildly,
professions in which there is a clear relationship
between someone's income and his economic

Economist Paul Krugman 
New York Times 

November 24, 2011

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  • Not only are the super-rich not contributing-they, unknowingly or knowingly, are in an important sense responsible for a wanton destruction of resources-especially people, by far the most important resource, as their needs are not met-or as MLK put it, we are given a "bad check". A check which we cannot cash for modern, clean preventative health care, modern education, clean, modern housing, modern, clean 21st century transportation and digital, fiber optic communications for the whole multi-national and multi-racial working class.
    The productive capacities of this working class cannot and will not be unleashed unless this"bad check" is made good.
    Massive, peaceful and intelligent struggle that makes resources for development available for all is the only way of modern life, the only way of life that assures the best contribution for everyone and all. It is the working class with its billions of people, when invested in makes trillions upon trillions of contributions.

    Posted by E.E.W. Clay, 11/27/2011 7:30pm (7 years ago)

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