Think about this article in terms of a social welfare function

Roubini is one of the leading economists writing and talking about the financial crisis of 2008 and its aftermath. Here is an account of what he said at Davos. Note that he is on a panel of non-economists. He points to:

• 225 million people worldwide are unemployed
• 1 in 3 people on the planet are poor or unemployed
• 1% of the world's families own 40% of the wealth
• Wages as a percent of GDP are at an all-time low
• Corporate profits as a percent of GDP are at an all-time high
• Current policies will lead to explosions
• This inequality is "Great Gatsby revisited"
• We're in a "vicious circle"... fiscal austerity to solve debt problem is making everything worse

So, how do we fix this? We would have to move from one distribution of resources to another--move from the utilitarian to the Rawlsian social welfare function. Read the comments too. Very bleak for a major business blog.

Read more: http://www.businessinsider.com/the-seeds-of-dystopia-roubini-and-co-scare-the-crap-out-of-davos-2012-1#ixzz1kZE394WR