Today, in a change of pace, a single subject podcast: trickle-down economics and the unsustainable economic inequality and social ills it produces.
Sometimes escaping from the mouth of a right-winger is an utterance so jaw-dropping, that it merits an entire show.
Brian Griffiths is a Goldman, Sachs international advisor. He was recently discussing Wall Street salaries and bonuses. You've probably heard that the financial industry is all set to award itself a record $140 billion in total compensation this year. Goldman, Sachs all by its lonesome will pass out $23 billion in bonuses.
Griffiths said in defense of such numbers:
We have to tolerate the inequality as a way to achieve greater prosperity and opportunity for all
In case your brain has the same reaction mine did the first time I heard that -- this doesn't compute, this doesn't compute -- let me repeat it.
This former advisor to Margaret Thatcher said with a straight face:
We have to tolerate the inequality as a way to achieve greater prosperity and opportunity for all
Ah, trickle down economics. Thatchernomics. Reaganomics. Right-wing economics. Let me become filthy rich, it will be better for you also, better for everyone.
Really?
I think not. As one economist summed up the available empirical evidence:
Trickle-down theory…predicts a positive correlation between inequality and economic growth, the idea being that income disparities strengthen motivation to get ahead. Yet when researchers track the data within individual countries over time, they find a negative correlation.
For more details, please do listen to the show (and you'll also hear an amazing soundbite of Bill O'Reilly at his worst).
(PS: Right-wingers, if you want to write in to me, fine, but at least do me the courtesy of listening to the podcast first. Please don't respond just on the basis of the brief preview above. Thanks!!)
Scheduling note: episodes of Blast The Right will be posted every three weeks.
Comments: This
section is for listeners. To receive a reply from Jack Clark,
you should call the comment line.
Hey Jack. My Name is Jesus Lopez from Venezuela. I always listen to your show. Sometimes I do not agree with all your comments (In Venezuela the goverment entities are very ineficient, even after 11 years-yes, eleven years of Chavez. Problems with electricity and water are not part of a "sabotage") I agree however with the fact that in order to have a healthy society, we need to help the poor people with education, good services and jobs. Before Chavez, the goverments forgot the people...One of the important goals of Chavez has been to understand that persons are first.PD: Evo is the president of Bolivia, not Ecuador as you mentioned in a clear "Freudian slip" in your show, since Carlos Correa, is the President of Ecuador, and also a left wing leader.
Jack
Clark documents the right's wars on the poor,
civil liberties, the right of workers to organize
at work and obtain a decent working wage and work
conditions, and against other countries who refuse
to accept American domination. Jack provides all
the sources so that you can see for yourself how
the right is out to enrich itself at the expense
of everyone else. Great job, Jack!
Submitted By: magyarbill
awesome
show
Clark
always backs up his statements against
the right wing with fact and data, which
gives him all the more credibility.
As conglomerate media controlled by
politics clouds the mainstream news
media, Jack Clark, along with NPR and
Democracy Now! have become my primary
news source. Awesome podcast!
Submitted By: jgates118
In-Depth,
Meaty, Hardcore Knowledge
This
podcast is not just entertainment, humor,
chimp-bashing, or gee-whiz recap of
the weeks events. Instead, it hits hard
and in-depth on the world economic situation
and how right-wing policies impact the
poor and less advantaged all over the
world. He examines Americas support
of the World Bank, IMF,multinational
corporations, etc., and connects the
dots. This is a podcast for grown-ups.
He gives good reasons why the right
wing is NOT living up to its precious
Bible, without putting down the Bible.
As a Jesus-loving Christian and moderate
Democrat, I respect this podcast for
its subject matter. The grown-up manner
of the speaker is just icing on the
cake. He IS funny, but hes not trying
to be, he just has a deadpan delivery
but doesnt have to make jokes to make
it interesting. The facts make it interesting
and devastating.
Submitted By: ebrenn1
A
Breath of Fresh Air
Jack
Clarks Blast the Right podcast is truly
a breath of fresh air when it comes
to political commentary. Jack is not
like some commentators who simply climb
on their soap box and state their own
opinions as fact. Instead, Jack welcomes
competent challenges to his way of thinking,
and with logical analysis and sound
research, debunks the lies, distortions,
and self-deceptions of the right wing.
I strongly recommend Blast the Right
for people who seek the truth and care
more about the long term health and
well-being of the whole citizenry than
the short term personal gain advocated
by modern conservatives. Listen as Jack
carefully shows how the high-sounding
"God and country" rhetoric
of the right wing is really just a smokescreen
for policies that ultimately lead only
to the increased misery, suffering,
and death of the less fortunate for
the particular benefit of the wealthy
and the well-connected. And, if you
find yourself in agreement, return to
Podcast Alley to place your vote! Thanks!
