Carolina Quotes[T]he current U.S. economic system... is incapable of providing a satisfactory life to... 44% of the population. ...[I]s that good enough for a $20 trillion economy... supposedly the richest in the world?
John Komlos Connected to the Carolinas
Source
No citation is recorded for this quotation.
- work
- Foundations of Real-World Economics (2019)
- year
- 2019
no citation recorded
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“[T]he current U.S. economic system... is incapable of provid…” John Komlos. Carolina Quotes, record CQ-8662E5BA4A. https://carolinaquotes.com/quote/8662e5ba4a
More from John Komlos
[O]ur starting point should not be Adam Smith's Wealth of Nations, but his Theory of Moral Sentiments... that we possess an innate empathy toward our fellow human beings. Morality and ethical principles... We ought not expunge these from the economics canon.
[I]n... 2017... 40% of the population evaluated their life as "struggling" and another 3%... "suffering."
The new normal is what I call Bailout capitalism because Ben Bernanke put a lot of money [creation of $trillions by the Federal Reserve] into the financial sector.