Wealth is not a Private Affair


Interview with Ulrich Thielemann – Wealth and Justice Debate

The US faces a revenue- and a war-spending crisis. The top tax rate was over 70% from 1938 to 1982; corporations put trillions in tax havens. Joseph Stiglitz warns that inequality creates a suboptimal economy. Alternative economics emphasizes that our economic problems are endogenous, not exogenous: profit maximization is different than profit-making (Ulrich Thielemann). In late stage financial capitalism, profits explode, not investments (Nicolaus Krowall).


[This interview “Es gibt zu viel Geld auf der Welt” published on 9/19/2014 is translated from the German on the Internet, http://www.berliner-zeitung.de. Ulrich Thielemann is an economic ethicist and director of the economic ethics think tank MeM in Berlin. He grapples with the questions in what values is economic ethics oriented and what values should be primary. For Thielemann, fairness is a central goal for which the market economy should strive. The think tank focuses on the question when can distribution of income be described as fair. Ulrich Thielemann was co-director of the Institute for Economic Ethics at the University of St. Gallen, Switzerland. Themes like good business leadership and the competition principle are illumined in his books.]

Nearly everyone dreams of bathing in gold, free of all cares! But when is someone rich\? Why is being rich a problem\? Because one cannot spend all one’s money, the economic ethicist Ulrich Thielemann says in conversation with the Berliner Zeitung journal.

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