David Simon: Capitalism in America has lost sight of its social compact
This is the era of valuing imaginary numbers over actual human beings.
The long-term costs of short-run failure are piling up and up and up and up.
“If you are 35 or younger – and quite often, older – the advice of the old economy does not apply to you. You live in the post-employment economy, where corporations have decided not to pay people. Profits are still high. The money is still there. But not for you. You will work without a raise, benefits, or job security. Survival is now a laudable aspiration.”
The author argues that in the new economy, it’s people, not skills or majors, that have lost value.
As part of Creative Time Reports’ Summit Series, musician, artist and bicycle diarist David Byrne considers New York City’s present and future ahead of the 2013 Creative Time Summit: Art, Place & Dislocation in the 21st Century City.
The poor are more attuned to social relations, because they have to be. Reducing the economic gap may be impossible without also addressing the gap in empathy.
I just signed a petition to The United States House of Representatives and The United States Senate: Wall Street banks – the ones that wrecked our economy – should not be getting a better interest rate on their government loans than young people trying to go to college.
With soaring costs, stagnating incomes and little help from the government, there is only one way to pay for higher education: debt.