Saturday, October 30, 2010

the grouch reads

The grouch reads: Zombie Economics; How Dead Ideas Still Walk Among Us, by John Quiggin, Princeton University Press.

"An analysis by the New Economics Foundation concluded that for each pound paid to British bankers, society incurred a net loss of ten pounds. The opposite was true for hospital cleaners and childcare workers, who were paid much less than their social value."

(page 171, fn. 25)

I'll bet the results wouldn't be very different if someone performed such an analysis for the "land of the free" ..... though, of course, they would be expressed in dollars....

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