misallocation of resources

The Irresponsible, Greedy 1% and the Hypocritical, Greedy .01% of the 1% Who Get Away With Attacking Them…That Is, Hillary Clinton

/ Jack Marshall / 19 Comments
...for less than an hour's work. But it's HARD work,..you know: talking.

…for less than an hour’s work. But it’s HARD wor…you know: talking.

Robert Samuelson accurately categorizes America’s CEOs as a new economic aristocracy in his most recent column. Why CEO salaries are so absurdly high is caused by many factors, some of which the columnist lists, but that fact is inescapable that the salaries cannot be defended by rational arguments. This is in stark contrast, by the way, to similarly high-salaried entertainers and sports figures, who tend to really earn their money. There is, after all, only one LeBron James, Tiger Woods, or Jon Stewart. Corporate CEOs, though they would like to think they are unique talents, seldom are. Could you replace most of them for considerably less than the going rate of 20 million dollars a year? Absolutely.

Thus continuing to accept such absurd salaries and attendant benefits while the economy stutters, their companies restrict hiring and the gap between worker salaries and executive compensation widens is unethical, pure and simple. Doing so is based on greed and willfully ignoring the consequences of the conduct, as Samuelson points out, though he hardly needs to, so obvious should it be to corporate executives and outside observers alike:

“Americans dislike aristocracies. Unless companies can find a more restrained pay system, they risk an anti-capitalist public backlash. This is the ultimate danger. For all the flaws of today’s system, government regulation of pay — responding to political needs and pandering to popular prejudices — would be much worse.”

Just as irresponsible as these gorging, selfish, unrestrained and greedy executives are the class-dividing hypocrites who try to exploit public resentment and pander to those popular prejudices while profiting from the same irrational system of misaligned resources that make those CEOs the equivilent of sultans. I know I have been critical of Hillary Clinton regularly of late, but I am not responsible for flaunting her in  front of my wincing eyes and abused ears on a daily basis. How dare she try to pose as an advocate of a rational system of wealth distribution? And how pathetic that her tone-deaf and logic-free supporters tolerate it!

In a weekend interview with the  Guardian, Clinton pronounced herself a fit champion of populism and a credible agent of reform for skewed income levels because progressives “don’t see me as part of the problem because we pay ordinary income tax, unlike a lot of people who are truly well off, not to name names; and we’ve done it through dint of hard work.”

Ah.

Those progressives are gullible and naive idiots then!

Thanks for that clarification. Continue reading →

Race-Baiting At “The Root”

/ Jack Marshall / 44 Comments

The African-American news and commentary site The Root has plowed some new ground in the field of disgusting race-baiting.  An article by Charles D. Ellison argued that the same conservatives who fought to block Terri Shiavo’s husband from authorizing the withholding of her food so his vegetative wife could die should be supporting Jahi McMath’s parents’ efforts to keep their brain dead 13-year-old daughter on life support. That they are not, he suggests, is because Terri was white, and Jahi is black.

I wrote about Schiavo’s plight here, over at the Ethics Scoreboard, in 2005. I wrote recently about Jahi McMath, here. There is no inconsistency in my positions, but there is also none in the reactions of some conservatives to the two cases, because they are not comparable. Here’s  Billy Crystal explaining the divergence exquisitely in “The Princess Bride”:

In Billy’s words, Jahi is all dead. She is brain dead, which is to say, dead. Keeping her on life support is a waste of resources, and a tragic exercise in denial. Terri was mostly dead, and was never getting better. Most of her brain was gone, but her vital functions were still operating. Conservatives regarded the withholding of food from her as murder, just as they oppose the destruction of frozen embryos that will never be born.

They were wrong to try to interfere in Terri’s case, but that is irrelevant here. There is no racism involved at all. If Jahi were white, she would still be all dead, and even the most doctrinaire conservatives don’t believe that dead people should be kept on respirators.

The Root’s piece is dishonest, ill-informed, hateful and unfair.

_____________________________

Pointer: Althouse

Jahi’s Plight: Why Death Panels Are Inevitable And Necessary If We Are Going To Pay For Each Other’s Health Care

/ Jack Marshall / 30 Comments

death panels

Even while the Affordable Care Act debacle is mired in other problems, the “death panel” controversy lingers on, as conservatives exploit the public’s visceral reaction against an inevitable result of modern health care cost-sharing, and progressives dishonestly deny and ridicule the reality of that result, because it makes health care reform less attractive.

The case of Jahi McMath is instructive, if anyone bothers to consider its practical and ethical implications. Jahi, 13, underwent a tonsillectomy Dec. 9, and emerged from her post-op recovery legally dead, due to massive swelling in her brain. She was placed on a ventilator, and according to its policy, Children’s Hospital Oakland was preparing to take her off life support when the family strenuously objected. It petitioned a court to keep her technically alive so she could spend Christmas with them. An Alameda County judge Monday ordered hospital officials to keep Jahi on a ventilator until Dec. 30 while an independent neurologist reviews her case. Meanwhile, her mother told CNN and other local media that although she appreciates  the second opinion and court order, she will fight to keep her daughter on life-support as long as possible, saying,

“I’m her mother. I’m going to support her. It’s my job to do it. Any mother would do it. I just want her to have more time. There are so many stories of people waking up in her situation.” Continue reading →

Comment of the Day: “College: the Worst Consumer Scam of All?”

/ Jack Marshall / 2 Comments

From Michael, responding to the post on a recent book’s conclusions about today’s college students, their study habits and achievements based on several surveys and studies:

“This is not surprising at all.  It is only surprising to those who close their eyes, plug their ears, and hum really loudly when any concerns like this are raised.  Student achievement has been falling so fast, it is ridiculous.  I can see the difference year to year.  Students aren’t required to study much, are not challenged, and are taught to ‘think’ by people who believe the word ‘think’ means ‘repeat everything I say’. Continue reading →

College: the Worst Consumer Scam of All?

/ Jack Marshall / 6 Comments

A new book titled “Academically Adrift: Limited Learning on College Campuses,” authored by New York University professor Richard Arum, unveils data indicating that nearly half of the nation’s undergraduates learn little or nothing in their first two years of college, primarily because colleges don’t make learning a priority. Continue reading →