not that the elites play games, and the public can only watch the show; it's the elite who play with fire and the public burns.
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Elites play with fire, the masses burn
Eusebio 2022-09-05 01:22:58
The deepest impression is the content related to the economics professors of several famous schools in the second half. Profession, country, and market originally have their own fields and trump cards (Bourdieu), and the trump card in the professional field is cultural capital - knowledge (even if there is no absolute truth, there is a pursuit of truth), the national field of The trump card is organizational capital—power (according to Bourdieu’s analysis of state formation, it can also be understood as the concentration of various capitals), and the trump card in the market field is economic capital—money. But in practice, these fields are not independent of each other, and the trump cards are interchangeable. When economists write papers that do not conform to the facts, act as advisors to bankers, and testify in court to defend them at critical moments, and then return them with high remuneration; So that the country's policy can be its own umbrella. These fields have become blurred, and the rules of their respective games have begun to change. When the matter finally came to light, the banker who made a lot of money withdrew; no matter how much the president's approval rating dropped, he could live a relaxed and happy post-presidential life, and the next president could still shout "change we need" and sing on stage. Great drama; the economist can go back to his business school to continue "doing research", and only need to say "no comment" in the face of the questioning of the camera. It is the common people who pay for the disaster, the people who make up the 10% rise in unemployment, the people in developing countries who used to sit on the assembly line and send money home to make ends meet, were tricked into buying a "bad house" because they didn't know English People, in short, use a sentence in the film to say: "It is the poorest who lose the most." It's
not that the elites play games, and the public can only watch the show; it's the elite who play with fire and the public burns.
not that the elites play games, and the public can only watch the show; it's the elite who play with fire and the public burns.
Extended Reading
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interviewer: On your CV the title of this report has been changed from "Financial Stability in Iceland" to "Financial *In*stability in Iceland."
Frederic Mishkin: Um, well, I don't know. Er, which, er whatever it is, is - the thing - if there's a typo, there's a typo.
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Nouriel Roubini: By 2006, about 40% of all profits of S&P 500 firms was coming from financial institutions.