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Stiglitz: Of the 1%, by the 1%, for the1% (may2011)

Stiglitz: Of the 1%, by the 1%, for the1% (may2011)
It’s no use pretending that what has obviously happened has not in fact happened. The upper 1 percent of Americans are now taking in nearly a quarter of the nation’s income every year. In terms of wealth rather than income, the top 1 percent control 40 percent. Economists long ago tried to justify the vast inequalities that seemed so troubling in the mid-19th century—inequalities that are but a pale shadow of what we are seeing in America today. Some people look at income inequality and shrug their shoulders. First, growing inequality is the flip side of something else: shrinking opportunity. Third, and perhaps most important, a modern economy requires “collective action”—it needs government to invest in infrastructure, education, and technology. None of this should come as a surprise—it is simply what happens when a society’s wealth distribution becomes lopsided. Economists are not sure how to fully explain the growing inequality in America.

'Occupy': A catalyst for change? - Inside Story The 'Occupy' movement is holding gatherings around the world as protesters meet in the financial centres of several cities. The movement's central site, United for Global Change, says 951 cities in 82 countries will participate in rallies. Dozens of protesters were arrested in New York as thousands marched through the city's financial district before moving on to Times Square. Protests were also held elsewhere in the US and Canada, notably in Washington DC, the US capital. And several cities across the world - from Tokyo to Alaska via London, Frankfurt and Washington - held demonstrations in a show of solidarity with the rallies that began last month in New York. But does the movement have a defined agenda?

Fortune des dictateurs: au tour de Ben Ali et Kadhafi Avec les révolutions arabes, la liste des biens mal acquis des dictateurs s'allonge. Le départ de Ben Ali et la chute programmée de Kadhafi pourraient rouvrir le dossier et accélérer les enquêtes. OWNI fait le point avec une carte interactive. Près de 200. Voitures de luxe et biens de consommationHôtels particuliers et biens immobiliersComptes en banque disséminés à travers le monde A la faveur des révolutions arabes, de nouveaux noms font leur apparition dans ce club fermé des fortunes mal acquises. Les révolutions pourraient relancer des procédures enterrées Aux plaintes déposées devant la justice par les ONG Sherpa et Transparence International en 2008, les gouvernements incriminés avaient riposté par la voie de recours judiciaire, avec un certain succès. Finalement, les soulèvements populaires récents pourraient bien relancer des procédures fastidieuses. Le défi Kadhafi Cliquer sur la carte pour naviguer dans l’application “Pour Kadhafi, c’est plus compliqué. Témoignages anonymes

The Official Netflix Blog : US & Canada 10 Lesser Known Economic Issues Politics While not an economist in the traditional sense, I am very interested in the study of economics. While not everyone shares this level of interest, I believe people should have an understanding of economics as the field is so important to understanding the world that we live in. Though this list contains ideas that are controversial, it is not intended to promote anger or controversy. Rather, these entries were chosen to shed some light on lesser known, yet important economic issues facing our world, and give readers something to ponder. Please give your opinions on these issues in the comments. Also known as the Diamond-Water Paradox, the paradox of value is the contradiction that while water is more useful, in terms of survival, than diamonds, diamonds get a higher market price. This paradox can possibly be explained by the Subjective Theory of Value, which says that worth is based on the wants and needs of a society, as opposed to value being inherent to an object.

about | Gathering '11 Occupy Wall Street to a global intifada? On Wednesday, October 5, I joined thousands of others and marched down lower Manhattan to 'occupy Wall Street'. Seeing thousands of people marching peacefully together under the banner of occupying struck me in profound and contradictory ways. The marches and occupation were orderly and disciplined. There was neither a mob mentality, nor a sense of anarchy, nor any violence. No one crushed anyone else, in fact people apologised if they so much as tread over each other's toes. Everyone obeyed the flow determined by the New York Police Department (NYPD): Walking on sidewalks behind barricades, congregating in open spaces of parks, and for the most part not standing on streetlights, signs or scaffolding to get a bird's eye view. The feeling was certainly one of dispossession - targeted at Wall Street, at corporate America, at rising unemployment, at taxation inequalities, at rising student loans, at seemingly out-of-control military spending. What kind of occupation? Defining occupation

Le peuple est-il un enfant ? Dans la polémique sur les révélations de Wikileaks [1], un ancien ministre des affaires étrangères français s’indignait sur les plateaux : la politique était selon lui comme les familles, il y a des histoires qu’on ne raconte pas aux enfants. Il faut une certaine fatuité pour oser cette comparaison. Hubert Védrine ne se rendait pas compte qu’il reprenait la vieille justification des élites aristocratiques quand elles refusaient le droit des peuples. Ils n’étaient que des enfants. Mais ajouteront les esprits bien pensants : il s’agit de politique internationale où le secret a toujours été légitime puisqu’il en va de la sécurité des Etats et de la vie des hommes, que notre époque dangereuse justifie encore plus qu’on le cultive. Les relations internationales sont-elles un domaine aussi exceptionnel ? Les sondages offrent un autre exemple paradoxal où un instrument légitimé comme démocratique s’adresse à un peuple pas tout à fait capable de le comprendre.

Analytics Blog Finally, A Rich American Destroys The Fiction That Rich People Create The Jobs 60 Minutes America's real job-creators...who can't afford to create any jobs. In the war of rhetoric that has developed in Washington as both sides blame each other for our economic mess, one argument has been repeated so often that many people now regard it as fact: Rich people create the jobs. Specifically, entrepreneurs and investors, when incented by low taxes, build companies and create millions of jobs. And these entrepreneurs and investors, therefore, the argument goes, can solve our nation's huge unemployment problem — if only we cut taxes and regulations so they can be incented to build more companies and create more jobs. In other words, by even considering raising taxes on "the 1%," we are considering destroying the very mechanism that makes our economy the strongest and biggest in the world: The incentive for entrepreneurs nd investors to build companies in the hope of getting rich and, in the process, creating millions of jobs. She'd like to create jobs. And Hanauer explains why.

Occupy Wall Street: The Most Important Thing in the World Now I was honored to be invited to speak at Occupy Wall Street on Thursday night. Since amplification is (disgracefully) banned, and everything I say will have to be repeated by hundreds of people so others can hear (a k a “the human microphone”), what I actually say at Liberty Plaza will have to be very short. With that in mind, here is the longer, uncut version of the speech. We Recommend The youth and those who are not so young participating in Occupy Wall Street deserve support, not scorn. Does the Occupy Wall Street movement, which has now spread from lower Manhattan to places as far flung as Washington, D.C. and San Francisco, signal a new beginning for the left? Since they can no loner ignore the occupation, the mainstream media has decided to mock and dismiss it instead. About the Author Naomi Klein Naomi Klein is an award-winning journalist, syndicated columnist, fellow at The Nation Institute and author of the... Also by the Author I love you. That slogan began in Italy in 2008.

The 'Last Place Aversion' Paradox If ever Americans were up for a bit of class warfare, now would seem to be the time. The current financial downturn has led to a $700 billion tax-payer-financed bank bailout and an unemployment rate stuck stubbornly above nine percent. Onto this scene has stepped the Occupy Wall Street (OWS) movement, which seeks to bring together a disparate group of protesters united in their belief that the current income distribution is unfair. “The one thing we all have in common is that We are the 99% that will no longer tolerate the greed and corruption of the 1%,” says their website. Or, maybe not. Support for redistribution, surprisingly enough, has plummeted during the recession. What might explain this trend? Our recent research suggests that, far from being surprised that many working-class individuals would oppose redistribution, we might actually expect their opposition to rise during times of turmoil – despite the fact that redistribution appears to be in their economic interest.

Que dire à un bébé sans papiers ? La Cour de cassation a tranché. Les deux petites filles d'un couple français ne sont pas les leurs. Ou plutôt, elles le sont aux Etats-Unis, mais pas en France. C'est le résultat ubuesque du retard français en matière de filiation. Que cela plaise ou non, de plus en plus de parents conçoivent leurs enfants grâce à la gestation pour autrui (GPA). Jusqu'ici, pourtant, cette régularisation se faisait. "La mère, c'est celle qui accouche", précise la Cour. Les magistrats ne souhaitent pas trancher un débat qui appartient aux politiques (ils ont bien raison). Est-il souhaitable, oui ou non, qu'un enfant vive avec un statut légal, c'est-à-dire un lien parental reconnu par la loi ? "Papa, maman, pourquoi on n'est pas sur le livret de famille ? - Si ma chérie, mais l'Etat ne veut pas. - Pourquoi ? - Parce que des gens ne veulent pas. - Pourquoi ? - Mais non, ma chérie, vous êtes françaises. - Ben alors pourquoi ? - Les gens n'aiment pas la façon dont vous êtes venues au monde. - Mais non...

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