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We hear all sorts of reasons why the little guy won't buy stocks these days but the below graph, courtesy of a Chicago Fed study , might explain a lot of it.
Gavin Mueller has a great article in the summer issue of Jacobin Magazine about piracy, and at one point drops this jaw-dropping statistic: “Intellectual property makes up 80 percent of the net worth of US corporations and 60 percent of their exports.”
Paul Thomas/Bloomberg News Robert E.
Exit from comment view mode. Click to hide this space Comments View/Create comment on this paragraph NEW YORK – Dark, lowering financial and economic clouds are, it seems, rolling in from every direction: the eurozone, the United States, China, and elsewhere.
Wall Street “Quant” Alexis Goldstein joins the opposition
Iceland proves that bailing out the middle class works better than bailing out banks - The Young Turks with Cenk UygurCenk explains why Iceland is a perfect example for how bailing out citizens instead of banks can help an economy recover.
The youtube video of 12 year old Victoria Grant speaking at the Public Banking in America conference last month has gone viral, topping a million views on various websites.
In his "Gospel of Wealth," Andrew Carnegie argued that average Americans should welcome the concentration of wealth in the hands of a few, because the "superior wisdom, experience, and ability" of the rich would ensure benefits for all of us. More recently, Edward Conard , the author of "Unintended Consequences: Why Everything You've Been Told About the Economy Is Wrong, said: "As a society, we're not offering our talented few large enough rewards.
“The boom, not the slump, is the right time for austerity.”
Given The Dominance of The Machines, Do Flesh-and-Blood Traders Have a Chance?
Recently the progressive blogosphere was abuzz with approving links to billionaire investor Warren Buffett's latest New York Times op-ed, "Stop Coddling the Super Rich."
The wealthiest Americans believe they've earned their money through hard work and innovation, and that they're the most productive members of society. For the most part they're wrong.
THE past four years have been bad for workers and savers but good for the corporate sector.
Exit from comment view mode. Click to hide this space Comments View/Create comment on this paragraph WASHINGTON, DC – Europe’s policy elite – the people who call the shots at the national and eurozone level – are in serious trouble.
Mar. 7, 2012 — Two Brazilian physicists have shown that wealth concentration invariably stems from a particular type of market exchange rules -- where agents cannot receive more income than their own capital. The authors concluded that maximum inequalities ensue from free markets, which are governed by such seemingly fair rules. This study, published in European Physical Journal B , was conducted by J.