The Next Big Idea Daily
"Wealth Supremacy: How the Extractive Economy and the Biased Rules of Capitalism Drive Today’s Crises" by Marjorie Kelly
May 30, 2024
Marjorie Kelly, from The Democracy Collaborative, discusses the bias toward wealth in the economy, exploring issues like wealth concentration, profit prioritization over social and ecological concerns, and the shift towards purpose-driven business models. She also dives into the negative impacts of financial extraction and the need for economic transparency.
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Quick takeaways
- The overwhelming concentration of wealth drains societal resilience and exacerbates issues like debt, job insecurity, and low wages.
- Combatting financial extraction necessitates redefining economic success, prioritizing wealth circulation, and developing strategies for broad economic prosperity.
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Challenges of Financial Wealth
Financial wealth is a pervasive issue affecting society, draining resilience due to the overwhelming concentration of wealth, leading to financialization. Families struggle with debt, job insecurity, low wages, and limited assets, highlighting a dangerous imbalance of wealth distribution that hinders progress and exacerbates societal issues.
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