"Over a century ago Alexis De Tocqueville wrote that Americans’ higher tolerance for inequality relative to Europe’s was the result of more social mobility in the US.Continue reading
"This is over; at least for now. The long, peaceful coexistence with income and wealth inequality is ending. Americans are now infuriated by the fact that chief executives at some of the nation’s largest companies earned around 340 times more than a typical American worker..."
Wilful blindness - why we ignore the obvious at our peril, Margaret Heffernan, New Statesman, August 8, 2011
"...If there is knowledge that you could have had and should have had but chose not to have, you are still responsible.Continue reading Recommend this post
"...The narratives nearly always follow the same trajectory: years of abuse involving a large number of participants, plenty of warning signs, and, when the problem finally explodes, howls of pain - how could we have been so blind?
"Chief among culprits is power. When Richard Fuld was chief executive of Lehman Brothers, he perfected the seamless commute: a limo drove him to a helicopter, which flew him to Manhattan, where another limo whisked him to the bank's offices. Front and lift doors were timed so that Fuld could ascend to his office without encountering a single employee. Most leaders of organisations inhabit a bubble of power, of which Fuld's commute is a magnificent physical representation. They are isolated, or surrounded by those desperate to please.
"...F A Hayek wrote that "without a theory, the facts are silent" - but with a theory or ideology, inconvenient facts can become invisible..."