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Tuesday, February 10, 2015

"Lockstep Relationship Between Income Equality And Rapid Economic Growth," Stiglitz

Joseph Stiglitz WEF

Inequality: Joseph Stiglitz Brilliant Reflection On Obama's State Of The Union Address


Alan: If Stiglitz is right -- and an impoverished middle class causes economic decline/stagnancy -- what should "we" do?

I am reminded of an African story about a hunter who used a monkey's greed to catch the monkey. 

First, make a hole in a coconut just large enough for the monkey's hand. 

Secure a sturdy cord to the coconut.

Bait the coconut by putting peanuts in the cavity.

Sprinkle peanuts from the coconut to the surrounding woods. 

When a monkey discovers the baited coconut, he puts his hand inside making a fist to grab as many peanuts as he can. 

Unwilling to loosen his fist for fear of losing peanuts, the monkey is effectively trapped. 
The hunter, hiding in the bush, pulls the cord and captures the monkey.

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1910 Income Tax Promised To Never Shift Burden From Richest 1 - 4%

U Mass Professor Emeritus Richard Wolff Provides Out-Of-The-Box Views

"The Rich Aren't Just Grabbing A Bigger Slice Of The Pie. They're Taking It All"
http://paxonbothhouses.blogspot.com/2014/09/the-rich-arent-just-grabbing-bigger.html

Major General Smedley Butler: Do Wars Really Defend America’s Freedom?

G.K. Chesterton: "The Anarchy of The Rich"

Chesterton Viewed The Rich As "Oppressive" "Scum" And Failures

Aristotle On Democracy: Rule By The Needy

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