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.

    1. @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?

      1. @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.

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

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