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The Economic Crisis-Capitalist Fools by Joseph Stiglitz in Vanity Fair
#4
Mark Stapleton Wrote:I agree. A very good article, Myra. Thanks for posting that.

One of the catchcrys of the now deceased free market ideology was the trickle down effect. Basically, when the wealthy become wealthier it's real good, because the wealth will trickle down to the rest.

What we're going to see is the trickle down effect in reverse. The wealthy have just become a lot poorer and it's going to trickle down, like dam bursting.

Mark, my view is that the wealthy just got a lot wealthier not poorer. Some of them at least anyway. The rescue package in he US is running $8.5 trillion at last count (that I have seen). That amounts to a transfer of wealth from he many to the few. $8.5 trillion accumulated over ten and more years didn't simply evaporate, I think...
The shadow is a moral problem that challenges the whole ego-personality, for no one can become conscious of the shadow without considerable moral effort. To become conscious of it involves recognizing the dark aspects of the personality as present and real. This act is the essential condition for any kind of self-knowledge.
Carl Jung - Aion (1951). CW 9, Part II: P.14
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The Economic Crisis-Capitalist Fools by Joseph Stiglitz in Vanity Fair - by David Guyatt - 11-12-2008, 05:56 PM

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