Quote
"[T]he current U.S. economic system... is incapable of providing a satisfactory life to... 44% of the population. ...[I]s that good enough for a $20 trillion economy... supposedly the richest in the world?"
"The growth-at-any-price perspective does not consider... distribution: economic growth will not help the destitute, the uneducated underclass, or the majority of those... unemployed."

John Komlos is an American economic historian of Hungarian descent and former holder of the chair of economic history at LMU Munich.
"[T]he current U.S. economic system... is incapable of providing a satisfactory life to... 44% of the population. ...[I]s that good enough for a $20 trillion economy... supposedly the richest in the world?"
"[C]hildren who are attending dysfunctional schools in dysfunctional neighborhoods, people... unable to catch their bearings in... the IT revolution and globalization, the working poor... trapped in a culture of poverty... ought not be treated like machines without feelings."
"[W]e should begin... economic analysis with empirical evidence instead rather than on ivory-tower theorizing."
"Greenspan... out of hand and cold-bloodedly thwarted [warnings of , , Raghuram Rajan, Nouriel Roubini, Peter Schiff, Robert Shiller, Joseph Stiglitz, Nassim Taleb, John Taylor, and] s valiant efforts to regulate derivatives a decade before the meltdown."
"The ideological commitment to "," ...has brought us to our current, precarious situation."
"[T]eachers of economics should admit... that while markets do well in some circumstances they only do so within an appropriate institutional framework and... in others... [they] often tip the stream of benefits toward a few insiders."