5 Comments

  1. Rod Adams wrote:
    Is it because the advertiser supported media in the US has been taught to look down on factory workers instead of celebrating their skills and craftsmanship?
    Money and power (and I don’t mean megawatts) are found together. Large amounts of money have been associated (at least until recently) with the dealings of the financial world. Just making stuff is really hard work, though ultimately making stuff is the source of wealth that money represents. Unfortunately, to too large of a degree, the making of money has been divorced from the making of wealth (useful stuff).
    There is an interesting piece in Business Week by Andy Grove that addresses manufacturing and jobs in this country. I don’t know that I agree with his perscriptions, but his observations give one pause.

  2. Kevin Phillips in his book “American Theocracy” (2006) explores this economic transformation from making useful things to focusing on making money by financial speculation and the like, which he called “financialization” of the economy, as a common late-stage phenomenon of decaying Empires. He explored this theme in greater detail in his follow-on book “Bad Money” in 2008. A broad-based improvement in economic health will be impossible unless we change from the current path set in motion by Reagan that continued through to Clinton with the coup de grace wielded by Bush/Cheney. The power of the financial sector is at an all-time high and, not coincidentally, the percentage of national income going to the top 1% is on par with what it was in 1929. The economy is completely out of balance due to the greed, excess and corruption of our own financial “ruling class.” Think Enron at work on a systemic basis, including the U.S. Federal Reserve and the Treasury. Reform the Banks and Wall St. and “cast out the moneychanges from the temple” then we can get back to building a sustainable robust economy powered by cheap, limitless carbon-free nuclear power. Until that is done, we won’t have the means of investment to fix this huge mess and re-engineer our energy infrastructure.

  3. @Steve – I’m all in favor of ” building a sustainable robust economy powered by cheap, limitless carbon-free nuclear power” but would you mind defining “greed” and “excess”? What is the objective measure of these terms and who decides on the benchmark?

  4. @DocForesight – IMHO greed is a bit like art or pornography – there is no objective definition, but I certainly know it when I see it. Some things in life cannot be measured or put into “metrics” no matter what Donald Rumsfeld tried to teach his senior officers. Some things require judgement, a fine eye, exceptional taste buds and or human intuition.

  5. Well I think if somebody gets more then 10 times the median income it is greed, counterproductive and excessive, nothing mysterious about it.

Comments are closed.

Similar Posts

  • It's time for a change in the Atomic Energy Act!

    The Nuclear Regulatory Commission is one of the best places to work in the federal government. It is staffed with dedicated professionals who provide technical expertise and work very hard. It is a fair, but tough regulator that goes by the book. However, it is not providing Americans with the service that they deserve from…

  • The Atomic Vacation is over

    My wife and I have returned from our summer vacation. This year’s trip was special – we journeyed with some long time friends to Europe for a “Castles on the Rhine” river cruise. Because of the nature of the trip, we decided that we would completely unplug. We did not carry a laptop or even…

  • Strange numbers from a normally credible source

    Matthew Simmons is an investment banker who has long been associated with the idea that the era of cheap oil is coming to an end. His analysis is based on the work of M. Hubbert King and other oil exploration experts who have recognized the idea that the world has a finite quantity of oil…

  • Gyeongju, South Korea wins competitive referendum for waste storage facility

    For the past 19 years, South Korea has been working to site a facility capable of storing low and intermediate level radioactive waste materials. On 2 November 2005, the South Korean government announced that Gyeongju, an ancient city that once served as the capitall of the Silla Kingdom, had won. The waste products that the…

  • Open, Direct Competition Between Natural Gas and Nuclear Energy In UAE

    The UAE is one of the world’s most richly endowed oil and gas producers, but it has recently signed a contract with a consortium of South Korean manufacturers to build 4 large (1400 MWe) nuclear power plants to supply the electricity baseload in the country. This decision is completely rational. The UAE has a growing,…