Who should be in favor of supporting the poor and middle class?

Joe Stiglitz wrote an excellent article in Vanity Fair last month that discusses things I've mentioned before, about how it is in the top 1%'s best interests to support those below them. It works much better for all involved than cutting them off at the knees like they've been doing for the past couple of decades. But he says it with a lot more authority and eloquence than I've been able to muster on it. It's worth a read.

The one thing he fails to mention (see?) is that he's giving a long-term perspective, while most of the 1% are just focused on the next quarter. And in the very short term, it isn't true. So I think they will mostly find it unconvincing, even though he is completely correct.

No comments:

Post a Comment