Impacts On Economy
In the 1970s an organized set of policies promoted reduced taxes, especially for the wealthy, and a steady corrosion of the welfare safety net. Starting with legislation in the 1980s, the wealthy banking community successfully lobbied for reduced regulation. The wide range of financial and social capital accessible to the power elite gives their members heavy influence in economic and political decision making, allowing them to move toward attaining desired outcomes. Sociologist Christopher Doob gives a hypothetical alternative stating that these elite individuals would consider themselves the overseers of the national economy, appreciating that it is not only a moral but a practical necessity to focus beyond their group interests. Doing so would hopefully alleviate various destructive conditions affecting large numbers of less affluent citizens.
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Famous quotes containing the words impacts and/or economy:
“We are no longer in a state of growth; we are in a state of excess. We are living in a society of excrescence.... The boil is growing out of control, recklessly at cross purposes with itself, its impacts multiplying as the causes disintegrate.”
—Jean Baudrillard (b. 1929)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)