Three myths, propagated for years by politicians and financiers alike, are being punctured. The first is that higher levels of tax for the super-rich serve as a disincentive to the middle classes and to budding entrepreneurs; the second is that the oligarchs will go elsewhere when challenged by "host" countries; the third is that the governments will accrue so little money from these people (because of their clever financial managers) that it is not worth the other hassles. Each of these has been shown to be bogus.

One thing is very clear: a more ‘decent capitalism’ will not be created by the profiteers of the current system of non-regulation. Their profits are built too heavily on certain prerogatives, which they will not just hand over to public control. For deeper reform the underlying power relations of current finance capitalism will have to change, which means that the relationship between states and markets will have to be radically rebalanced.

The New York Times Co., owner of the Telegram & Gazette, has agreed to sell the newspaper’s office building to a subsidiary of the Worcester Business Development Corp., which intends to renovate the aging complex. As work is scheduled to begin next month, the T&G will consolidate its editorial and business operations in the newer part of its four-building complex and will move out entirely within a year.