Monday, January 25, 2010

Stiglitz pinpoints 'moral' core of crisis

by Henry C. K. Liu from Asia Times website. As I see it, the only moral imperative of capitalism is to maximize the accumulation of private wealth. The system does that very well. As much as I admire the insights of Liu, I think he, and other liberals, totally miss this principle. You simply can't argue social system values when you have a system that is informed by private values. And his hero, Professor Stiglitz, was in Clinton's administration which radically pushed capitalism forward into its globalization phase.