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Michael Hudson – Celebrating the One Percent – Is Inequality Really Good for the Economy?

To paraphrase Mark Twain, everyone complains about inequality, but nobody does anything about it. What they do is to use “inequality” as a takeoff point to project their own views on how to make society more prosperous and at the same time more equal. These views largely depend on whether they view the One Percent as innovative, smart and creative, …

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Yanis Varoufakis – A single currency challenges national sovereignty

In 2010 the Greek state lost the capacity to service its debt. Put simply, it became insolvent and thus lost access to capital markets. To prevent a default on fragile French and German banks that had irresponsibly lent billions to irresponsible Greek governments, Europe decided to grant Greece the biggest loan in world history on condition of the largest ever …