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Tuesday, Dec 20
2011, 10:47 AM
Felix Salmon takes a healthy swipe at the cavalcade of execs fighting back against the attack on...
Felix Salmon takes a healthy swipe at the cavalcade of execs fighting back against the attack on wealth - highlighted most dramatically by Home Depot-founder Bernard Marcus' ill-received retort to protesters of "who gives a crap about some imbecile?" Salmon on the 1%: "The fact is that the ultra-rich really aren’t productive, and instead mostly collect rents from people who are. This is what capital always does, of course: it buys labor (some people call that “job creation”, even if the jobs being created are mostly in China), and then extracts dividends from it."