SUBSIM Radio Room Forums - View Single Post - J. Stiglitz: The American Dream has become a myth

Skybird · 10-02-12, 07:50 PM

If more and more of the national wealth is accumulated in few and fewer hands, then this means problem in any country, no matter which political and economical system it runs by. There is also a problem of increasing power in few hands, and collapsing checks and balances. Money is influence, money actively creates opportunity to bypass checks and balances, and rules. The system gets eroded from inner self-dynamics. It is said that everything that exists, already carries the germ of its own destruction within itself. Its true, I think.

Wealth increasingly accumulating at the top creates self-dynamic accumulation effects from generation to generation. The problem worsens constantly. The debt crisis is an expression of that, and on multiple levels.

Every nation has its founding myths by which it runs and to which it's self-assessment returns when it meets trouble. Like a child meeting something frightening and then runs home to mama. In modern Germany there are two such myths: that all people must be made equal (not equal chances or equal rights, but must be made equal) and that Germany must dissolve to unite all Europe into one Germany-less entity. In America it is the fairy tale of from-rags-to-riches and melting pot. It seems to me for every little detail that supports any of these, there are a dozen details that contradict them, and every single case where an individual's life reflects these myths, there are a hundred or more, who lose, or fail to function according to the myth's definition or expectation. And the scissor opens wider and wider.

Capitalism seeks monopolism, and interest-based money lending increases circulating ammount of money without that additional money being covered by a matching increase in real value. Which inevitably runs the constant devaluation of money due to rich people saving money, and make profit from lending it. That money is either uncovered by real value, or is missing where it is needed - amongst those who are not rich. So they must borrow. The rich have, and become richer, the poor have not, and loose even more.

10-02-12, 07:50 PM	#12
Skybird Soaring Join Date: Sep 2001 Location: the mental asylum named Germany Posts: 42,602 Downloads: 10 Uploads: 0	If more and more of the national wealth is accumulated in few and fewer hands, then this means problem in any country, no matter which political and economical system it runs by. There is also a problem of increasing power in few hands, and collapsing checks and balances. Money is influence, money actively creates opportunity to bypass checks and balances, and rules. The system gets eroded from inner self-dynamics. It is said that everything that exists, already carries the germ of its own destruction within itself. Its true, I think. Wealth increasingly accumulating at the top creates self-dynamic accumulation effects from generation to generation. The problem worsens constantly. The debt crisis is an expression of that, and on multiple levels. Every nation has its founding myths by which it runs and to which it's self-assessment returns when it meets trouble. Like a child meeting something frightening and then runs home to mama. In modern Germany there are two such myths: that all people must be made equal (not equal chances or equal rights, but must be made equal) and that Germany must dissolve to unite all Europe into one Germany-less entity. In America it is the fairy tale of from-rags-to-riches and melting pot. It seems to me for every little detail that supports any of these, there are a dozen details that contradict them, and every single case where an individual's life reflects these myths, there are a hundred or more, who lose, or fail to function according to the myth's definition or expectation. And the scissor opens wider and wider. Capitalism seeks monopolism, and interest-based money lending increases circulating ammount of money without that additional money being covered by a matching increase in real value. Which inevitably runs the constant devaluation of money due to rich people saving money, and make profit from lending it. That money is either uncovered by real value, or is missing where it is needed - amongst those who are not rich. So they must borrow. The rich have, and become richer, the poor have not, and loose even more. __________________ If you feel nuts, consult an expert.