Monday, September 27, 2010

Educate Yourself, September 27, 2010 Edition

Please listen to this installment of the BBC program Business Daily. The topic is:
Could ever greater concentrations of wealth in a country be not just socially divisive, but also economically inefficient?

The rich are getting richer in America at a time of high unemployment and a worn out safety net. Steve Forbes, publisher, political hopeful, and also a very rich man defends the American economic system. John Monks of the European Trades Union Confederation makes the case for a gentler, more European, form of capitalism.

It is pretty appalling to listen to Steve Forbes's trite and unoriginal rhetoric. My favorite part starts about 8 minutes into the recording, when John Monks wonders why people in the United States have been taking thirty years of failed economic policies lying down. I often wonder, too.

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