September 15, 2023

Economics

'Many of the key political and economic institutions of our society have abandoned their commitments to the common good — and along the way, abandoned the bottom half of the adult population.'

"Much of the public no longer believes that the major institutions of America are working for the many; they are vessels for the few.

"When the game is widely seen as rigged in favor of those at the top, society shifts from a system of mutual obligations to a system of private deals. Rather than be founded in the common good, political and social relationships increasingly are viewed as contracts whose participants seek to do as well as possible, often at the expense of others (workers, consumers, the community, the public) who are not at the table. 

"When it’s all about making deals, one 'gets ahead' by getting ahead of others. Duty is replaced by self-aggrandizement and self-promotion. Calls for sacrifice or self-denial are replaced by personal demands for better deals." - Robert Reich

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