Posts Tagged ‘greed’

The New Economic Norm? Nah, It’s The New Cultural Norm

Greed Kills - photo by madhava

The economy is doing well for those who are already wealthy, but the average worker sees very little of it.  Salary increases, when they happen, don’t keep up with inflation. President Obama refers to this as an economic problem. Others call it the new economic norm. I call it a cultural problem. It’s a cultural problem because this is what companies do now. This is the new cultural norm. Companies use an economic downturn as an excuse to cut back on benefits and pay increases, and maybe during an economic downturn cutbacks should be expected. But a problem arises when companies…
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Federal Government Helping To Boost Renewable Energy Production

Fossil fuel VS renewable energy - photo by Gregoire Vandenbussche

by Albert Ross — The federal government spent $24 billion in 2011 on energy subsidies, with three-quarters of that amount, $16 billion being used to help boost production of renewable and clean energy sources. A recent article on cnn.com by Steve Hargreaves reported that according to the Congressional Budget Office the fossil fuel industry only received $2.5 billion in tax break subsidies. Hargreaves goes on to add that only a decade ago these figures were actually the other way round with the fossil fuel industry receiving the bulk of the federal government’s energy subsidies and favorable tax breaks. The CNN…
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Many on Wall Street say greed is necessary

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Many on Wall Street say greed is good, or at least necessary. Apparently they watched the Oliver Stone movie Wall Street (1987) and interpreted it as a training tool for how to get rich instead of its intended purpose of revealing what’s wrong with the financial system. In related news, Mitt Romney would like to further deregulate America’s corrupt financial system. So vote for Mittens if you think Wall Street executives deserve less scrutiny. Many on Wall Street say greed isn’t just good — it’s necessary http://www.latimes.com/business/money/la-fi-mo-wall-street-ethics-20120710,0,3548235.story

Greed: It’s Why We Need Strong Financial Regulations To Avoid Another Meltdown

Greed - photo by burstingwithcolors

I think it’s safe to say that all but the most extreme (and potentially selfish) anti-government libertarians would be for regulations when it comes to aviation including the safety of the airplane that takes you to see Aunt Betty in St. Louis. I think most would be hesitant to trust a for-profit company to regulate itself when it comes to the flight-worthiness of an aircraft. Sure, a company that neglects maintenance and has many fatal accidents is likely to go out of business quickly but nobody is willing to allow that market to work itself out because it means putting your life…
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The State Of Capitalism: Chris Hayes – “The Difference Between Cheating And Performance”

Chris Hayes

Today Chris Hayes made a great point about the difference between cheating and performance, or that there isn’t really a difference at all, at least not anymore. The problem is that we assume people who have made a lot of money did the right things in life to earn that money, but we know that isn’t always the case. We know there are people who get into positions where they are able to rig the system. We know there are people who once they taste success are not satisfied and then begin to cheat their way to the top. At…
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