Moral Outrage
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Posts Tagged ‘Economics

Wealth and the ideology of self interest

August 14, 2011

Psychologist and social scientist Dacher Keltner says the life experience of the rich makes them less empathetic, less altruistic, and generally more selfish. In fact, he says, the philosophical battle over economics, taxes, debt ceilings and defaults that are now roiling the stock market is partly rooted in an upper class “ideology of self-interest.” Keltner […]

A National Debt of $211 Trillion!

August 9, 2011

Economics professor Laurence J. Kotlikoff, who served as a senior economist on President Reagan’s Council of Economic Advisers, says the national debt, which the U.S. Treasury has accounted at about $14 trillion, is just the tip of the iceberg. “We have all these unofficial debts that are massive compared to the official debt,” Kotlikoff tells […]

Solving the Debt Crisis is Easy

July 30, 2011

As one who teaches Economics 101 and, as a professor and international consultant who makes a career out of giving macroeconomic advice to other countries, I find the current impasse in the United States both appalling in its potential risks and frustrating in the simplicity of the solutions that are hardly even talked about. The […]

The U.S. Experiencing the Perfect Economic Storm

November 8, 2010

Robert Reich, former labor secretary during the Clinton administration, writes that the country is being threatened by what he calls a “perfect storm.” The wind is blowing from three directions: The rich keep getting richer, with the top 0.1 percent of income earners making more money than the 120 million people at the bottom of […]

Banks too big to fail also too big to jail

September 4, 2010

Barclays recently coughed up $298 million for violating a US trade law. A judge is still deliberating on a settlement that may cost Citi $70 – 100 million for misleading investors about $40 billion in sleazy subprime holdings. Wells Fargo settled for $200 million after being caught gouging their own customers. This follows a $550 million […]