Comments on: How equal should we be?

By: simonandfinn

simonandfinn — Mon, 22 Oct 2012 15:14:03 +0000

Very interesting piece and perspectives. Reminds me of an article I read (couldn’t track it down unfortunately) about the elitism of the American university system and how the glorified country club track leaves a lot of people out in the cold, to the point where the only way they feel they can get in on certain jobs is through lying about their credentials (i.e. the Director of Admissions at MIT for one, http://www.nytimes.com/2007/04/27/us/27mit.html)

By: reddotsg

reddotsg — Fri, 07 Sep 2012 15:16:14 +0000

Reblogged this on Reddotsg's Blog and commented: Christopher Hayes in Twilight of the Elites pointed out members of this class regard themselves as a “meritocracy,” but their merit consists of their credentials, not their achievements or their contributions to society.

By: Atticus Finch

Atticus Finch — Thu, 06 Sep 2012 18:25:22 +0000

“What I have a problem with is the emergence of a privileged class, who are rewarded for attending elite schools, belonging to elite organizations and networking with other members of the elite. They gain access to top jobs in corporations, government, academia and the so-called non-profit sector. Christopher Hayes in Twilight of the Elites pointed out members of this class regard themselves as a “meritocracy,” but their merit consists of their credentials, not their achievements or their contributions to society.”

That is an excellent point. Less concerned with someone being rewarded with riches by creating value and more concerned with the creation of an elite class where the barriers to entry are to large to overcome by the rest of us. Great article.

By: b-psycho

b-psycho — Thu, 06 Sep 2012 16:51:27 +0000

I’d also add that the power of labor needs to make a comeback. A huge one. Part of the reason we have the economic conditions of today is the shifting of consumption over time from wage growth to debt, which makes the financial sector way more important and powerful than it should be. It’s like poking holes in someones boat and then charging them for material to fix it plus interest for how long they have it on there.

By: b-psycho

b-psycho — Thu, 06 Sep 2012 16:44:07 +0000

Ideally, the gains from rent-seeking and political favor should be seen as equivalent to theft, thus treated by society as void. This wouldn’t be a reform, obviously, more like an intentional dismantling.

Failing that, if indeed such an alternative is not possible, I could see as a reform that at least somewhat touches the problem (though clearly does not end it) shifting all taxation from the complex code existing today to taxing only the gains in areas defined by rents and privilege (land value & resource extraction, plus financial speculation), from there funding a relatively generous citizens dividend. The idea there is if you cannot do away with the rigged structure, the least that could be done is to charge for the privilege.

By: Reddotsg

Reddotsg — Thu, 06 Sep 2012 14:17:27 +0000

Sounds some what like what is happening in my country.

Tq for sharing your veiws n ideas, Phil.