Friday, December 13, 2013

feed the oligarchs, see what happens

this quote:
'He is referring to the 2012 book Why Nations Fail: The Origins of Power, Prosperity, and Poverty, in which economist Daron Acemoglu, of the Massachusetts Institute of Technology, argues that societies fail when they move from an inclusive to an extractive economy, meaning an economy “designed to extract incomes and wealth from one subset of society (the masses) to benefit a different subset (the governing elite).”'
from: http://www.thestar.com/news/atkinsonseries/2013/12/13/the_incredible_disappearing_middle_class.html, via: @sarahkendzir

image thanks to: http://economyincrisis.org/content/america-is-caught-in-a-vicious-downward-cycle