Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
STIGLITZ: The World's 99% Knows Capitalism Is Failing and Believes That Change Is Possible
This was the headline over at Buzzflash.
I think everyone ought to copy and paste it into an email to the White House and their congressman and senators.
They need to know that they have done far too little punish those who broke the World economy or to fix it so they can't break it again.
They probably won't do anything, but at least they won't be able to say we didn't ask them to.
Hell, send it to Mitt too. But I think his idea of change is having someone hold us by our ankles and shake it out of our pockets and into his off shore accounts.
There are moments in history when people all over the world seem to rise up, to say that something is wrong, to ask for change. This is what happened in the tumultuous years 1848 and 1968. Each of these years of upheaval marked the beginning of a new era. The year 2011 may prove to be another such moment.
***
Americans, Europeans, and people in other democracies around the world take great pride in their democratic institutions. But the protesters have called into question whether there is a real democracy. Real democracy is more than the right to vote once every two or four years. The choices have to be meaningful. The politicians have to listen to the voices of the citizens. But increasingly, and especially in the United States, it seems that the political system is more akin to "one dollar one vote" than to "one person one vote." Rather than correcting the market's failures, the political system was reinforcing them.
Politicians give speeches about what is happening to our values and our society, but then they appoint to high office the CEOs and other corporate officials who were at the helm in the financial sector as the system was failing so badly. We shouldn't have expected the architects of the system that has not been working to rebuild the system to make it work, and especially work for most citizens - and they didn't.
The failures in politics and economics are related, and they reinforce each other. A political system that amplifies the voice of the wealthy provides ample opportunity for laws and regulations - and the administration of them - to be designed in ways that not only fail to protect the ordinary citizens against the wealthy but also further enrich the wealthy at the expense of the rest of society.
FULL TEXT
***
Americans, Europeans, and people in other democracies around the world take great pride in their democratic institutions. But the protesters have called into question whether there is a real democracy. Real democracy is more than the right to vote once every two or four years. The choices have to be meaningful. The politicians have to listen to the voices of the citizens. But increasingly, and especially in the United States, it seems that the political system is more akin to "one dollar one vote" than to "one person one vote." Rather than correcting the market's failures, the political system was reinforcing them.
Politicians give speeches about what is happening to our values and our society, but then they appoint to high office the CEOs and other corporate officials who were at the helm in the financial sector as the system was failing so badly. We shouldn't have expected the architects of the system that has not been working to rebuild the system to make it work, and especially work for most citizens - and they didn't.
The failures in politics and economics are related, and they reinforce each other. A political system that amplifies the voice of the wealthy provides ample opportunity for laws and regulations - and the administration of them - to be designed in ways that not only fail to protect the ordinary citizens against the wealthy but also further enrich the wealthy at the expense of the rest of society.
FULL TEXT
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
7 replies, 3199 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (10)
ReplyReply to this post
7 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
STIGLITZ: The World's 99% Knows Capitalism Is Failing and Believes That Change Is Possible (Original Post)
yurbud
Jun 2012
OP
xchrom
(108,903 posts)1. du rec. nt
LiberalLoner
(9,762 posts)2. K&R excellent read!
marmar
(77,131 posts)4. The world needs more Stiglitz, (much) less Friedman.
nt
Flying Squirrel
(3,041 posts)5. Capitalism woulf be just fine
without deregulation and corporate influence of politics and control of the media.
yurbud
(39,405 posts)6. yep. Just like that utopia, Somalia.
RainDog
(28,784 posts)7. k&r n/t