Friday, 4 July 2014

Calls for Income Redistribution Based on Envy or Justice? and other news and views for Friday 4 July

4-07-2014 mpneybags
  • Are Calls for Income Redistribution Based on Envy or Justice? – “There is no doubt that many of those at the top are there because they made important contributions to society. Some inequality is justified. But it also seems clear that a large part of the rise in inequality is due to monopoly power, CEO pay that is unconnected to productivity, bailouts, politicians captured by special interests, corporate welfare, and the like. If so, then returning income to those who actually earned it is not envy, it is the “justice for all” that conservatives claim to support.”
  • Indonesia’s strongman Prabowo makes final election push – “Indonesia’s elite are rallying around former general and self-styled strongman Prabowo Subianto as he makes a final push to defeat Joko Widodo, the reformist Jakarta governor, in Wednesday’s presidential election.”
  • Stability or Sadomonetarism? – “… the BIS [the Bank for International Settlements, who are urging tight money despite weak economies, for fear that investors will take excessive risks] basically just wants to raise rates, and is always looking for a reason. It’s about sadomonetarism, not stability.”
4-07-2014 sillyabbott
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