Wednesday, December 16, 2009

Glenn Greenwald explains the healthcare debate. It's what Obama wanted. Makes a lot of sense to me.

Kevin Drum nails the income inequality argument over at Mother Jones. This is the best bit:

Ask an economist what's responsible for increased productivity, and the most likely answer you'll get is: new technology. So if we really wanted to reward the people who are responsible for productivity growth, we'd shower riches on engineers and scientists. But we don't. We shower riches on the CEOs who buy their products and make use of them.

But buying a new inventory control system is hardly a sign of managerial brilliance. It's just something that every company eventually does once a better one is invented, and the CEO who signs the purchase order to buy it is no more responsible for productivity growth than the workers who use it. They're both piggybacking off of someone else's invention, and there's no special reason why either one should be thought more deserving of sharing in the rewards. They both should.

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