John Garnaut: Some of China's most respected public intellectuals are warning society and economy are being held hostage to the wealth-maximising requirements of the political elite.
Steve Almond: Capitalism wears many uniforms. But it's designed to select for psychopathic behaviors. You don't get ahead by doing the right thing, by being kind.
Aaron Swartz, on Chris Hayes: Meritocracy: we thought we would just simply pick out the best and raise them to the top, but once they got there they inevitably used their privilege to entrench themselves and their kids. Opening up the elite to more efficient competition didn't make things more fair, it just legitimated a more intense scramble. The result was an arms race among the elite, pushing all of them to embrace the most unscrupulous forms of cheating and fraud to secure their coveted positions. ... When your peers are the elite at large, you can never clearly best them. The egaliatarian demand shouldn't be that we need more black pop stars or female pop stars or YouTube sensation pop stars, but to question why we need elite superstars at all.
Ruchir Sharma, head of emerging markets at Morgan Stanley Investment Management: Creative destruction lies at the heart of a prospering capitalist society, and because well-connected incumbents have everything to gain from the established order, they are the enemies of capitalism.
The Federal Reserve: A hypothetical family richer than half the nation's families and poorer than the other half had a net worth of $77,300 in 2010, compared with $126,400 in 2007. Ranking American families by income, the top 10 percent of households still earned an average of $349,000 in 2010.
Paul Geitner: For most Europeans, almost nothing is more prized than their four to six weeks of guaranteed annual vacation leave. But it was not clear just how sacrosanct that time off was until Thursday, when Europe's highest court ruled that workers who happened to get sick on vacation were legally entitled to take another vacation.
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