Hockey and Cormann were always wrong about the diagnosis and the prescription; they are blinkered by their alliegence to big capital. They should read... Capital in the Twenty-First Century, by Thomas Piketty, This book has re-configured the discourse of Economic Theory already. It states clearly that egalitarianism , decent minimum wages, dis-incentives for speculative money making as against real production, redistribution of wealth from the 1% is not only good economics but is a prerequisite of economic growth. Trickle-down does not work, forcing the working class to endure austerity and poverty does not work and slashing the size of the state... does not work... they do not create a bigger pie to use the silly metaphor much loved by the right. The right seems unable to mount any kind of substantive counterattack to Mr. Piketty’s thesis. Instead, the response has been all about name-calling — in particular, claims that Mr. Piketty is a Marxist, and so is anyone who considers inequality of income and wealth an important issue. Seems economic rationalism is anti-reason.
Posted on: Sat, 03 May 2014 04:15:56 +0000
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