“Let them eat iPad.” That was the cry Friday after William Dudley, head of the Federal Reserve Bank of New York, acknowledged to an audience in Queens, N.Y., that food prices had gone up before adding that some prices are lower. “Today you can buy an iPad 2 that costs the same as an iPad 1 that’s twice as powerful.”
Barley, Richard. 2011. “Comedy Fit.” Wall Street Journal (12-13 March): p. B 18
25 – The Confiscation of American Prosperity: From Right-Wing Extremism and Economic Ideology to the Next Great Depression
30 – Manufacturing Discontent: The Trap of Individualism in Corporate Society
Class Warfare in the Information Age
Railroading Economics: The Creation of the Free Market Mythology
Steal This Idea: Intellectual Property Rights and the Corporate Confiscation of Creativity
The Invention of Capitalism: Classical Political Economy and the Secret History of Primitive Accumulation
The Perverse Economy: The Impact of Markets on People and the Environment
I always hear right-wingers argue that because they see poor people with iPods, that means that they are not really poor. I guess it is a less extreme version of the argument that poor Third World people aren’t really poor because some of them apparently own satellite dishes.