Read this on-line @ Aljazeera.net. Thanks for letting me share w/readers of Poppy's Velo Ventures:
"The dishonoring of greed is likely only in those countries whose citizens already have more than they need. And even there, many people still have less than they need.
"The evidence suggests that economies would be more stable and citizens happier if wealth and income were more evenly distributed.
"The economic justification for large income inequalities – the need to stimulate people to be more productive – collapses when growth ceases to be so important.
"Perhaps socialism was not an alternative to capitalism, but its heir. It will inherit the earth not by dispossessing the rich of their property, but by providing motives and incentives for behavior that are unconnected with the further accumulation of wealth."
Robert Skidelsky, a member of the British House of Lords, is professor emeritus of Political Economy at Warwick University, author of a prize-winning biography of the economist John Maynard Keynes.
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