Wednesday, September 19, 2012

Global economic inequality: the billionaires vs. the penniless

Click here to access article by Deniz Kellecioglu from Real-World Economics Review Blog

In contrast to the ongoing devastation to the lives of the 99 Percent, the One Percent is richer than ever. But, that is inevitable under the system of capitalism which is controlled by them for their benefit. The liberal author carefully avoids mentioning the system; but, to his credit, he points briefly to a very subversive idea:
Surely an inclusive, participatory and democratically functioning economy is the ideal alternative. The real challenge is, in my opinion, how to get there (the transition), especially considering the necessary process of empowerment and disempowerment.