12/12/11

Extractionism is a term Krugman Should Learn

Yves Smith on How Banks Extract from the Economy | Dylan Ratigan: "Yves Smith on How Banks Extract from the Economy"

'via Blog this'

Once you understand that GDP is the sum of income and indebtedness your eyes open and you understand that the problem is money in politics which enables not capitalism but extractionism - ripping everyone off with ways of earning that offer no product whatsoever save the wealth of the upper percentile.


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