Articles by Johan Galtung, 26 Mar 2012
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The Face of the Crisis – And Alternatives
Johan Galtung, 26 Mar 2012 - TRANSCEND Media Service, 26 Mar 2012
The trade in derivatives is now at $1 quadrillion a year (15 zeros), ten times the industrial economy of the whole 20th century. Many got rich, but the system collapsed. Maybe prison would have been more adequate for intellectual sloppiness? That equation is a part of the closed paradigm of economism. Does it offer a solution, not only for banks and bankers, but for the bottom 99.9%? The 0.1%/99.9% income ratio USA 2007 was 140; an unbelievable inequality, both cause and effect of the crisis.→ read full article