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Telmo Brugnara
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Nada se cria... (1/4)

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Noam Chomsky: The Assault on Public Education

While many of Noam Chomsky's view are far too left-leaning for me, I found a lot to like in this op-ed.

I particularly liked the Adam Smith reference:

"In short, when they have the opportunity, "the Masters of Mankind" pursue their "vile maxim" [ all for ourselves and nothing for other people,] as Adam Smith explained long ago."

Obviously, the vile maxim is the opposite of my motto: "Create more value than you capture."

I also loved this quote from Martin Wolf, senior economic correspondent for The Financial Times:

"An out-of-control financial sector is eating out the modern market economy from inside, just as the larva of the spider wasp eats out the host in which it has been laid."

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This is the most amazing graph that demonstrates what our wrong-headed copyright regime has done to suppress rather than encourage economic activity!

If only our policy makers were driven by data rather than lobbying by copyright interests!

I support the January 18th Wikipedia blackout to protest SOPA and PIPA. Show your support here

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...and says (in the trillions panel) that the US richest 1% has 33% of US household net worth, and that the poorer half has only 2,5%
According to a recent economic study, "[evenness of] income distribution contributes more to the sustainability of economic growth than does the quality of a country’s political institutions, its foreign debt and openness to trade, the level of foreign investment in the economy and whether its exchange rate is competitive."

America's problem: "Today, America is an outlier among industrial nations. Its distribution of income looks closer to that of Argentina than, say, Germany."

So much for the idea that if we just take care of the rich, we'll get economic growth, and things will take care of themselves.

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