200-Plus Economists Support Occupy Wall Street

200-Plus Economists Support Occupy Wall Street.

Courtesy of Father Theo’s blog.  It makes sense, really, when you think about it.  It seems to me it would be difficult to be a serious academic economist and not support the Occupation, which is not particularly about Capitalism itself, but rather the particularly short-sighted predatory form of Capitalism that has developed in the United States.  Granted, I’m no economist, but it seems to me that we are in the midst of many of these crises because currently have a system that is not self-sustaining, and by continuing in any direction with that system we are only hastening our own downfall.  A system cannot survive by devouring itself, which is exactly what the relationship between the minority running the country and those whose lives they control has become.  Just on a purely common sense basis, the difference between, say, one person making 10 million dollars per year and 250 people making $40,000 per year is that while the people making $40gs will spend it in an economically diverse way, statistically speaking once money has found its way into the hands of the 1%, it seems to find ways to simply circle about between them, rather than making it into the segment of the economy that actually benefits the working man.

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