America’s broken contract and sustainable capitalism
Dec 7th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
On Tuesday, President Obama gave a major speech in a small town in Kansas, America's heartland and birthplace of his mother. He said supply-side economics is a failure and called “gaping inequality” across the country a moral shortcoming that is distorting American democracy. He was responding to the case that America's social contract is broken - - an issue that challenges the sustainability of conventional capitalism.