.........priceOfCivilisation.....
age of Paul Samuelson ideals
libertarian extreme
taxes is government extortion
free market forces reign supreme
devoid of social responsibilty
core belief
individual have no resposibility except respect liberty & property of others
Paul Samuelson great synthesis
govnmt to perform3 tasks
stabilise macro econm
provide public goods
redistribute income 2 protect poor/unlucky
market to allocate most goods
illustrations..
govnm to allrviate financial instability by..
active government policies
well directed fiscal pol
well directed monetary pol
financial regulation
mkt economy prone 2 financial instability
market systematically under provide public goods
fairness require government to redistribute income ..
efficiency does not guarantee fairness
market are reasonable efficient
prosperity loss
new gilded age
age of impunity for the rich
wall st firms
Goldman Sachs,Citigroup, jpmorgan
dick cheney
massive inequality of wealth
divided work force
investment squeeze
job &saving crisis
outcome
fiscalWaste
environmtSustainability
decency
socialCohesion
history
reaganEra
taxCuts/ shrinkGovernm/risingInequality
roaring20
decadeOfCorruptn&speculation
progessiveEra
corrupt gildedAge
corporatocracy
4lobbygrps
healthCareIndustry
AMA restrict supply of new doctr thr ctrl&placemnt in medical sch
giver met reimburse cost w/ little system oversignt&ctl
hospital &Doctor reimburse on cost-plus basis
sky high prices protected by patent
bigOilTransportMilitaryComplex
sabotage mass transport and clean fuel initiative
hijack climate chg frm national agenda
dependence military trap in MEast
heavy oil dependence
wallStWashintonComplex
financialsystemCtrlbyWallSt
few large firm (goldmansachs, Jpmorgan,Citigroup,MorganStanley )
exert financial ctl over US economy
deregulation
unfavourable tax policy for middle/lower income worker
economic effect of globalisation
CEO friendly political env
militaryIndustryComplex
fiscal waste
useless war
militarisation
drivers
emphasisOnBottomline
globalisation
american's economic crisis
kowtow to lobbyists
open-ended war in Afghanistan
stingy foreign aid
unprecedented budget drficit
unaffordable tax cut
massive military budget
moral crisis
dishonesty as contagious social diseases
repeated exposure corporates lies in
military contr
financial/ investmnt
oil ind
Subtopic
drugs ind
parade of CEOs who cheated
phone claims of --
official statements of military statements (on Vietnam)
campaign comercials
advertisement
abuse of rich &pweful
lack of respect, honesty and compassion
lackOf civic virtue
cure
moral cures
educating ourselves deeply abt society needs
vigilant steward for future generation
bear fair share of taxes
multiple act of good citizenship
proposePolicies
taxCuts4rich
shortterm cure
temp tax cuts
quantitative easing
significantCutsInPublicOutlays
budget stimulus
economicMalice
longTerm/structre vs cyclical
education
energy policy
budget shortfall
symptons
environmentalActivitist
shareholder activitists
socialJustice
impunityOfRich
addr corrupt privileges
occupyMovement