The New York Times addressed today the national failure to consider reform of capitalism:
But that seems increasingly unlikely. Private enterprises have become increasingly lucrative, generating wealth and privileges for the 1 percent and their families. And in a clear sign of its position, the right has moved to limit public debate on economic policy, shutting out voices for change. While political reform has always been a taboo topic in the US, in economics, from the late 1970s to the early 2000s, almost anything went, with powerful voices backing strong measures that challenged the status quo. e.g. repeal of Glass-Steagall. But now, despite the rise of social media, fewer prominent voices in the US are able to make the case for a systemic overhaul that would prepare the nation for long-term prosperity on sturdier foundations. Oh, wait, the paragraph, before I edited it slightly, was in a story about China. The original: “But that seems increasingly unlikely. Publicly controlled enterprises have become increasingly lucrative, generating wealth and privileges for hundreds of thousands of Communist Party members and their families. And in a clear sign of its position, the government has moved to limit public debate on economic policy, shutting out voices for change. While political reform has always been a taboo topic in China, in economics, from the late 1970s to the early 2000s, almost anything went, with powerful voices backing strong measures that challenged the status quo. But now, despite the rise of social media, fewer prominent voices within China are able to make the case for a systemic overhaul that would prepare the nation for long-term prosperity on sturdier foundations.” full at: http://www.nytimes.com/2012/06/17/world/asia/in-shift-china-stifles-debate-on-economic-change.html?ref=business _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
