But if we can draw a line between government policy and fabulous financial wealth, and if we then see the fabulously financially wealthy putting former members of the government on the payroll, it stands to reason that the financial sector is acting, quite purposefully, to use its vast wealth to influence government policy in ways that will make it rich.
This is the start of the final paragraph of an Economist article, Inequality and crisis.
Is it really noteworthy that people would use resources to work towards what they want? Not that I think it is a bad article, it is just I am a student who has the time to wonder ‘why?’
Tags: economics, goals, inequality
Another student blog 
16/12/2010 at 9:16 am |
The Economist seems to be really running with ‘inequality’. Another article (http://www.economist.com/blogs/democracyinamerica/2010/12/inequality_instability_and_finance) concludes…
“It would be lovely were some genius to offer us persuasive theoretical assurance that there exists some feasible system of political economy that creates at least as much wealth and welfare as does our own, but which is both more stable and more just because less easily “gamed” by ingenious profit-seekers. Until then, we must consider the unhappy possibility that our current, insufferable arrangement of institutions is the best we know how to do.”
16/12/2010 at 7:14 pm |
The Economist is running with equality … cool. Seeing as its namesake discipline has been in the political ascendancy for decades and has done so much to help (sarcasm), I shall hold my breath for immediate global structural changes.
I remember years ago in management class (yes, I did a Commerce degree, the shame) and we were looking at NZ in 1987 (the Labour govt went Thatcherite, basically) and specifically at political corruption. One of my classmates burst into tears. We all wanted to know what was wrong. “I just can’t believe that anyone in my country would be corrupt!” she wailed. So, I guess for some people, yes it is noteworthy!
17/12/2010 at 7:12 am |
I must say that in high school, after we learnt about ANZUS, some of us were thinking that moving to NZ in order to get on with our progressive lives was a rather real alternative. That was until we found out that NZ had gone and unilaterally implemented all those economic policies.