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We still talk about the rich and the working class as if nothing has changed, but 15 years ago, the economist Guy Standing argued that the old class system is dead. Instead, he thinks that society is divided into three, and this division is far, far more dangerous than at any time. At the top, you have a ‘plutocracy’ — the ultra-wealthy, the billionaires, the people who do not just have money, but have influence. Below them sits the ‘salariat’ — people with salary jobs, pensions, sick pay, a car
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If you studied economics and something about the models never sat right, this is why. What mainstream economics actually represents is not science but a particular political and economic worldview disguised as objective analysis. It wasn’t always this way. The field was literally called “political economy” until the late 19th century marginalist revolution, when economists decided they’d rather resemble physicists. The politics didn’t disappear. They got written out of the textbook. If you recog
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Five Questions To Turn You Into A Socialist In 10 Minutes - PART 2. In Part 2, I respond to questions three and four - from the claim that CEOs become unnecessary without advertising to the idea that capitalism mainly exists to benefit the rich. The bigger question remains: do these criticisms of capitalism actually demonstrate that socialism is better? #Socialism #Capitalism #Economics #PoliticalDebate #EconomicDebate
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