Thursday, October 22, 2009

Myths of Capitalist Apologists: Now and Then

At a conference in London, a Goldman Sachs international adviser, Brian Griffiths, praised inequality. As his company was putting aside $16.7 billion for compensation and benefits in the first nine months of 2009, up 46 percent from a year earlier, Griffiths told us not to worry. "We have to tolerate the inequality as a way to achieve greater prosperity and opportunity for all," he said. (Robert Reich)

Oh Yeah, well in the old days his ancestral myth makers said that the lower classes needed the goad of starvation to make them work, thus justifying subsistence wages.

I have never understood that last claim, since the same myth makers insist that the rich need the goad of greater income and wealth to persuade them to  work, invest, and create jobs.

Could it be that the lure of higher wages might  also make the poor work and work harder? Or are we common folks a different form of humanity who need different incentives?

These capitalist myths are all crap and baloney, I

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