The Top .01% Are Responsible For The Well Being Of The 99%

Adam Davidson did a lengthy interview of Mitt Romney's former partner at Bain Capital, that was published in the NYT Sunday Magazine. It appeared today in the daily edition as well. I started to read it and determined that it was too long to post on my blog. It was also full of bromides that one regularly finds on Fox News and in the WSJ. Yves Smith took the time to read it and post this article in response. Her critique is devastating to both Adam Davidson, and to the arguments made in defense of the top .01% by Edward Conrad. The article is also critical of the NYT for providing the platform for a set of ideas that have little relationship to reality. Edward Conrad is a prototype of the homo economicus that is the underpinning of neoclassical economics and conservative ideology.  Steve Jobs and Bill Gates do not fit this description. We will be hearing a lot more of this kind of commentary in response to the Occupy Wall Street movements. By the way, there was a very large May Day celebration by Occupy Wall Street in NYC that was not covered by the NYT.