Group items tagged

"Pollin, Robert "Roots of Capitalist Stability and Instability," a review of The Value of Money by Prabhat Patnaik Publication Date: 10/20/2009"

Washington Monthly "...real entrepreneurs and real scientists and real executives and real bankers and real farmers and real software engineers and real venture capitalists tend to understand quite well how real power is used against them." -March 2010

"The baseness, hypocrisy and corruption of these twin political agencies of Wall Street and the ruling class cannot be expressed in words.

"...big business has cemented an unholy alliance with big government against the interests of ordinary Americans, who, of course, are the great majority of Americans. The great majority of Americans no longer matter."

Today, Adam Smith's Wealth of Nations is considered a Bible for capitalism, but when published in 1776, it was a blasphemous challenge to the big business, big government mercantilism in Europe. Smith's free market theories expanded economic opportunity, promoted competition and encouraged innovation, in large part, by attacking the "concentrated wealth and power" of Britain's commercial elite.

These days America is looking like the Bernie Madoff of economies: for many years it was held in respect, even awe, but it turns out to have been a fraud all along.

money finance economics finances justice economic fraud corruption financial industry banking system ponzi