Addiction to Power and Radical Therapy for the 1%
by Nozomi Hayase
Posted November 9, 2015
In the last few years, the world has experienced a rash of devastating financial tragedies. From the 2008 financial meltdown to the recent Greek debt crisis, one can find the footprints of too-big-to-fail megabanks and investment firms. Corruption of the 1% global elite continues, as the super rich get richer and the poor get poorer.
Public outrage toward bankers is growing and many are seeking a way to account for this systemic fraud. Some wish to follow the lead of Iceland, a small island nation that successfully put such thieves in jail. On one hand, those who have bilked the public should face severe consequences. But at the same time, this alone will not get to the root of the problem. In order to truly tackle systemic issues of widening wealth inequality, we need to look more deeply at this destructive behavior and recognize it as a symptom of a larger social illness. More…