Member-only story
“To help the poor, study economics”: income inequality, justice, and economic theory
Part The Last:
This series started with the fact of huge income inequality, with only 28 people holding the same amount of wealth as half of humanity, each of these wealthiest of the wealthy owning as much wealth as some 119,642 857 people. Furthermore, the processes that enabled such outrageous fortunes to develop are closely tied to the rapidly-degrading climate of planet Earth. Besides that, this inequality stokes wild political instabilities. Finally, the financial system that promotes profits from rents over production is destined to crash.
Humans are amazingly adaptable creatures, but you wouldn’t want to live in a world after both climate and economic disasters.
What I have been doing is presenting to you Bernard Lonergan’s theory of capitalism that is actually scientific. It has the potential to transform our economy for the benefit of all. While he foresaw the possibility of the rise of finance-dependent capitalism, he died in 1984. So, I turn now to answer whether this theory is still valid in the face of today’s capitalism.
The sorcerer’s financial apprentices
Kathryn Tanner, an astute observer of economics, describes the economic and human transformations…
