Warren Buffett thinks the rich in the US should pay more in taxes:
“The rich are always going to say that, you know, just give us more money and we’ll go out and spend more and then it will all trickle down to the rest of you. But that has not worked the last 10 years, and I hope the American public is catching on”
Source: Financial Times, November 21, 2010
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November, 2010
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November 21, 2010 1:08 pm
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November 9, 2010 8:01 pm
From a response paper I have written to the book “Identity Economics” by George Akerlof and Rachel Kranton:
Macroeconomic implications of the study of Akerlof and Kranton relate to the consideration of social norms and identities in markets. Although classical economic theory consider the macro level behavior as a mere sum of individual decisions, changing norms in the markets may be more helpful in explaining the changes in the aggregate level. More: Read the rest of this entry…