Philosophy, Capitalism, Economics & Income Disparity
Talk of economic mobility and the wealth gap is hardly new. From the Occupy movement to President Obama's re-election campaign, income inequality has been in the spotlight for years. Even so, the "inclusive capitalism" conference in London on Tuesday broke new ground. Not because of the conversation, but because of the people having it. The 250 people from around the world invited to attend this one-day conference do not represent "the 99 percent," or even the 1 percent. It's more like a tiny fraction of the 1 percent.
"We have $30 trillion of assets under management in the room," says conference organizer Lynn Forester de Rothschild, who runs E.L. Rothschild, a major investment firm she and her husband, of the storied Rothschild banking family, founded in 2003.
That amount — $30 trillion — is roughly one-third of the total investable wealth in the world. If money is power, then this is the most powerful group of people ever to focus on income inequality. . . . The titans of commerce and finance didn't necessarily fly to this meeting in London out of a sense of ethics or moral duty, though that may be a motivation for some. For many, says Rothschild, it's a sense of self-preservation. Capitalism appears to be under siege.
Source: NPR - May 27, 2014 - World's Richest People Meet, Muse On How To Spread The Wealth
Meanwhile, on the conservative side:
Your Teacher Said What?! Defending Our Kids from the Liberal Assault on Capitalism (book)
CNBC anchor Joe Kernen rebels against the liberal brainwashing of his young daughter by the mainstream media and educational establishment.
Every morning on CNBC's top-rated show Squawk Box, Joe Kernen asks tough questions. And at home he does the same with his ten-year- old daughter, Blake. What are you learning in school? What TV shows do you like? What message did you get from that movie? Your teacher said what?!
Blake's unsettling responses-including that no matter how bad things get, "the government will take care of us"-aren't surprising in an era when Washington takes over car companies, nationalizes banks, and spends a trillion dollars "stimulating" the economy. Something had to be done to teach Blake the value of capitalism.
Kernen shows that American culture is now so hostile to free markets that even animated movies are hard to tell from propaganda; grocery stores are billboards for the virtues of pre-industrial food; and classrooms do a better job teaching economic misinformation that arithmetic.
To Kernen, this isn't just wrong, it's practically criminal. An unapologetic cheerleader for the free enterprise system, he teaches Blake that it's not only the world's greatest engine for prosperity, but also essential for human freedom. As he tries to raise his children properly, even if he has to teach the basics himself, Kernen will have every conservative parent in America cheering him on.
Join Plato's Cave philosophers as we once again try to find economic rationality and fairness in a capitalist-dominated world. Feel free to post your comments and documents in advance of our meeting and be sure to check the Discussions and Files pages.
Thanks to Mike (the math professor) for suggesting this topic.
Steve, Plato's Cave Organizer