
"Treasury Secretary Tim Geithner and staff watch the Senate vote to raise the debt limit on Tuesday, August 2, 2011." Image via U.S. Treasury Department.
I’ve been thinking a lot about the economy lately. Obviously. Like everybody else, I’m sure. I confess that the machinations of the business world are largely mysterious to me. What little I (seem to) understand, though, is the source of some anger and sadness.
I’ve had a few quotes rattling around in my head…
- “If we are serious in our commitment to the fundamental principles of equality that I believe lie at the heart of the concept of human rights, today’s economic disparity can no longer be ignored. It is not merely enough to say that all human beings must enjoy equal dignity. This must be translated into action.” – His Holiness the Dalai Lama
- “Investment that only goes to enrich an already wealthy elite bent on monopolizing both economic and political power cannot contribute toward égalité and justice — the foundation stones for a sound democracy.” – Aung San Suu Kyi
- “We need economies that promote human values, seek to limit suffering, and are committed to democratic principles, rather than ones dependent on global trade and a blind commitment to neo-liberal economic policies.” – Sulak Sivaraksa
- “True compassion is more than flinging a coin to a beggar; it comes to see that an edifice which produces beggars needs restructuring.” – The Rev. Dr. Martin Luther King, Jr.
- “True economics never militates against the highest ethical standard just as all true ethics, to be worth its name, must at the same time be also good economics … True economics stands for social justice; it promotes the good of all equally, including the weakest and is indispensable for decent life.” – Mohandas K. Gandhi
I need to do a lot more reading and ruminating before I’m able to say anything skillful or useful about the current financial crisis. I will say at this juncture that what makes me angry and sad is that, as I see it, we’ve once again found ourselves in a situation where the wealthiest among us are being excused from making any helpful sacrifice whatsoever (despite the fact their tax breaks are the single largest contributor to our country’s deficit) while the poorest among us grow yet poorer and the rest of us in between struggle on.
As I said, I’m trying to do the best I can to educate myself in an area (economics/business/finance) that I’m not particularly strong in. I’m also trying to pay attention to news developments regarding the U.S. economy. In the latter endeavor, I’ve found the below resources helpful and am using the space today to recommend them to you. For how can I (or we) effectively engage our community on these knotty issues without keeping up on them? Please pay attention, everyone.
And just in case you didn’t see it, Warren Buffet wrote a scorchingly awesome op-ed for the New York Times this week on the aforementioned issue of taxes for the super-rich. The op-ed has in turn inspired a petition from MoveOn.Org, which you can sign here. I hope you will.
SIGN THE PETITION!
“I stand with Warren Buffett. It’s time for Congress to stop coddling the super-rich and make them pay their fair share.”