Monday, 21 May 2012

The Middle Class—Not the Super-Rich—are the Real Job Creators



[Posted at the SpookyWeather blog, May 21st, 2012.]

1 comment:

steven andresen said...

spook,

I thought the interesting thing with this discussion is that some people with the TED organization thought that his comments about the "job creators" thinking too highly of themselves was insulting to some of TEDS wealthy donors.

Apparently, the wealthy are touchy about anyone questioning their "the rich are the center of the universe" position.

I can understand this, I guess, because the Catholic Church was touchy about how questioning their view that the earth was the center of the universe cast doubt on their religious doctrines.

I liked the guy's point about the economy being a feed-back loop, not a great term, but, suggestive that consumers are an integral part of a system that makes money for everyone, including the rich, and middle class...not so much the poor.

His point seems to be the rationale for the middle class against the feudal idea that the economy revolves around the 1%.

s.