Umair Haque on Twitter 9 years ago today. Sadly still both relevant and true today.
"1. The "recovery" is worse than the recession for 90% of people. That suggests it's not much of a recovery.
2. Our understanding of this--a "recovery" where people get poorer--is so poor we don't have a word for it.
3. When most people continue to get poorer even during a recovery, the economy is seriously and badly broken.
4. This economy isn't one; it's no longer an engine of shared prosperity. It's effectively an upwards wealth transfer machine.
5. Central banks can't fix this crisis. They can help, but they're out of simple, dumb options, like giving banks endless free money.
6. This is, then, an institutional crisis. How we define and measure "value" is the real issue. We're making little progress.
7. The longer it takes us to get that this is a great crisis of institutions, the longer and harder we will stagnate.
8. This decade and this generation are already lost. The damage is permanent and irreversible.
9. The future is open to all those who choose it."
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