Carolina Quotes[T]he current system depends too much on luck. If you choose your parents right and you live in a decent neighborhood, you can grow up and become a productive member of the society... and John Rawls argues that... [luck] cannot be the basis of a just society.
John Komlos Connected to the Carolinas
Source
No citation is recorded for this quotation.
- work
- A Progressive View on the Need for a Paradigm Shift in Economics (Dec 2020)
- year
- 2020
no citation recorded
Cite this record
“[T]he current system depends too much on luck. If you choose…” John Komlos. Carolina Quotes, record CQ-BC55DA3957. https://carolinaquotes.com/quote/bc55da3957
More from John Komlos
Less anxiety, less insecurity and less crime. That's Capitalism with a human face, and you can read more about it in my textbook...
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.
Here is the Lehman Brothers, 2008... the assets of the Federal Reserve is under $1 trillion... and within weeks you have more than a doubling of the assets of the Federal Reserve, and then comes quantitative easing 2 and... 3 and by that time you're at $4 1/2 trillion... and then... comes the Covid crisis and we're up to $7 trillion. Now... that kind of a Capitalism is unsustainable. ...[N]o wonder that there is asset inflation as a consequence... and the stock market went through the roof.