Income inequality’s pitchfork in the road

[applegrove]

Income inequality’s pitchfork in the road

by Glen Pearson the Toronto Sun Opinion

http://www.torontosun.com/2015/03/17/income-inequalitys-pitchfork-in-the-road

"Snip.........

He spoke about how affluent nations had subtly morphed from being market economies to market societies and how it was changing the course of democracy for the worse. Any time citizens in general develop a growing distrust of the merits of the financial order, it’s just as bad for capitalism as it is for politics

......


Then Carney pivoted and started talking about people like you and me.

“Prosperity requires not just investment in economic capital, but investment in social capital,” he reasoned.

He went on to talk about how financial investors had to watch over and safeguard the “links” in society — those shared values and beliefs that encourage individuals to take responsibility not only for themselves and their families, but also for others. Modern capitalism was overlooking those links, he claimed, and the human and political fallout was enormous.

The Bank of England’s governor closed off by reminding his audience that human beings matter. He found it ironic that while real poverty was slowly being reduced in the developing world, it was growing to alarming levels in the developed world — those nations where capitalism has had its greatest influence.


...........Snip"

[NoJusticeNoPeace]

1. Market society? Not sure what that is...kind of interesting.

link?

[applegrove]

2. I'm on my smartphone and cannot copy the link. It was

in yesterday's or today's Toronto Sun. Usually a right wing rag. I read it for the local news only but stopped when I read that headline. Yes I love the vocabulary. That is what struck me too. Sorry I can't link till I get home to the computer. Words are powerful. When you have the right ones and it looks like Carney does. He was governor of the Bank of Canada when he got the job in Britain. The Liberals tried to get him to run in Canada. Market society is what the GOP has been gunning for 40 years.

[NoJusticeNoPeace]

3. cool, i just never heard it that way before

[applegrove]

4. Here is the link

http://www.torontosun.com/2015/03/17/income-inequalitys-pitchfork-in-the-road

[NoJusticeNoPeace]

5. thank you...appreciate the effort you put into this

[PowerToThePeople]

6. Capitalism, the scourge of humanity.

My original sig line.

Why do we beat ourselves with this?

[applegrove]

8. Capitalism is great for creating jobs and other markets. Socialism doesn't cut it there.

But the point of the article is that capitalism is only useful for part of human needs. It is just a part.

[PowerToThePeople]

9. You are incorrect.

How do you know "socialism does not cut it here." ?

Have you ever tried it?

[lumberjack_jeff]

7. "Market societies" - insightful. n/t