Why classical economics only works for the super-rich.
Source – greenpeace.org
– “…Neo-classical economic theory works just fine, but only if one ignores the human and ecological costs: poverty, squalor, homelessness, migrations, biodiversity loss, global heating, disappearing forests, toxic land and water, and rising, acidic oceans. Capitalism is designed to benefit those who have capital, the wealthy. For most of humanity, modern neo-classical economics erodes well being. For the ecosystem at large, neo-classical economics serves as a rationalisation for plunder”
Failed Economics – By Rex Weyler
“The rich get richer, and the poor get poorer,” is an ancient maxim that dates back thousands of years. In our era, we must add: “And wild nature gets trampled.”
A recently cleared forest in West Kalimantan, Indonesia. © Ulet Ifansasti / Greenpeace
At the end of 2018, Credit Suisse published its updated report on global wealth. Forty-two-million millionaires and billionaires comprise the richest 0.5% of the world’s population. That translates to…
View original post 1,967 more words