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Old 02-10-2015, 12:53 PM
 
Location: Middle of nowhere
20,281 posts, read 10,376,973 times
Reputation: 7940

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Quote:
Originally Posted by Wolfpacker View Post
The Act is no longer in effect. It hasn't been since 1990. Read up on your own material that you use as an argument before using it. The debate you're having is useless--because the legislation you promote doesn't exist anymore.
Yep. Thanks for the heads up. No need to discuss a law that is no longer in effect.

Quote:
The Humphrey-Hawkins bill was amended twice–in 1979 and 1990–and quietly expired in 2000
Quote:
The Humphrey-Hawkins bill was an act of stupendous government meddling in markets and monetary policy. By the Fed’s own language, it had to serve two masters: “The Fed then has two main legislated goals for monetary policy: promoting full employment and promoting stable prices.”

Stop and think about this. Both are impossible goals in free markets. A stable dollar is one thing; that’s what the Fed should guarantee. But stable prices? How does the Fed guarantee “stable prices” between voluntary buyers and sellers? Even more preposterous is the idea that the Fed should be responsible for employment. What is the mechanism to accomplish that?
Ghost of Humphrey-Hawkins - Forbes
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Old 02-10-2015, 12:57 PM
 
1,198 posts, read 1,569,502 times
Reputation: 779
Quote:
Originally Posted by bUU View Post
Maybe people cannot follow the link I posted above ...

FRB: Speech--Yellen, Labor Market Dynamics and Monetary Policy--August 22, 2014

No matter how you slice if, if you're refusing to admit that it is society's responsibility to ensure opportunities for full employment, you're simply wrong - both from the standpoint that it is society's responsibility and from the standpoint that it should be.
You're spinning the argument and information.

You posted specifically to a piece of legislation that was enacted in 1978, which expired in 1990. Then you debated on it as if it was in effect. Throwing random s-h-i-t against the wall--hoping it sticks--and then getting all smog when it doesn't fly when the people here tend to look at details of the evidence you posted and questions you on them.
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Old 02-10-2015, 12:59 PM
 
Location: Middle of nowhere
20,281 posts, read 10,376,973 times
Reputation: 7940
Quote:
Originally Posted by bUU View Post
Maybe people cannot follow the link I posted above ...

FRB: Speech--Yellen, Labor Market Dynamics and Monetary Policy--August 22, 2014

No matter how you slice if, if you're refusing to admit that it is society's responsibility to ensure opportunities for full employment, you're simply wrong - both from the standpoint that it is society's responsibility and from the standpoint that it should be.
But HOW does society ensure opportunity for employment? This isn't about right or wrong, but about the how to accomplish it.

If there is a factory making wire spoke wheel, and no one is buying wire spoked wheels, then the factory is going to close. If the people that were employed by the wire spoke wheel company don't know how to do anything but make wire spoked wheels, then their job opportunities are very limited. You can not force a business to hire a person that is not able to do the job they need filled. We could offer training to learn a new skill, but people have to be willing to take advantage of that training.
So if wire spoke Bob refuses to learn how to do something else there is no way for anyone to ensure that he will have a job.

Goes back to people have to be willing and able to learn a new skill if their skill set is made obsolete.
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Old 02-10-2015, 01:01 PM
bUU
 
Location: Georgia
11,904 posts, read 8,610,639 times
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Quote:
Originally Posted by jjrose View Post
But HOW
Are you finally admitting that it is society's responsibility? Because that would be enough for me. Just admit it and this thread is golden.
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Old 02-10-2015, 01:16 PM
 
Location: Middle of nowhere
20,281 posts, read 10,376,973 times
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Quote:
Originally Posted by bUU View Post
Are you finally admitting that it is society's responsibility? Because that would be enough for me. Just admit it and this thread is golden.
No, I'm not saying that anyone has a responsibility to ensure everyone has a job. I am simply asking how such a policy would be implemented?
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Old 02-10-2015, 01:18 PM
bUU
 
Location: Georgia
11,904 posts, read 8,610,639 times
Reputation: 8359
So we're back to the beginning, with you simply not being willing to acknowledge what I'm actually saying and instead insisting on distracting attention away from what I'm actually saying because you don't like it and have no other way of responding to it. Your games-playing is no longer amusing. It is society's responsibility to foster maximum employment even if you cannot bring yourself to admit it.
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Old 02-10-2015, 01:29 PM
 
Location: Middle of nowhere
20,281 posts, read 10,376,973 times
Reputation: 7940
Quote:
Originally Posted by jjrose View Post
But HOW does society ensure opportunity for employment? This isn't about right or wrong, but about the how to accomplish it.

If there is a factory making wire spoke wheel, and no one is buying wire spoked wheels, then the factory is going to close. If the people that were employed by the wire spoke wheel company don't know how to do anything but make wire spoked wheels, then their job opportunities are very limited. You can not force a business to hire a person that is not able to do the job they need filled. We could offer training to learn a new skill, but people have to be willing to take advantage of that training.
So if wire spoke Bob refuses to learn how to do something else there is no way for anyone to ensure that he will have a job.

Goes back to people have to be willing and able to learn a new skill if their skill set is made obsolete.
Quote:
Originally Posted by bUU View Post
Are you finally admitting that it is society's responsibility? Because that would be enough for me. Just admit it and this thread is golden.
Quote:
Originally Posted by jjrose View Post
No, I'm not saying that anyone has a responsibility to ensure everyone has a job. I am simply asking how such a policy would be implemented?
Quote:
Originally Posted by bUU View Post
So we're back to the beginning, with you simply not being willing to acknowledge what I'm actually saying and instead insisting on distracting attention away from what I'm actually saying because you don't like it and have no other way of responding to it. Your games-playing is no longer amusing. It is society's responsibility to foster maximum employment even if you cannot bring yourself to admit it.
No I am clarifying my point since you seem to be trying to put words in my mouth.

1. I do not believe that it is anyones RESPONSIBILITY to provide a job to anyone.
2. I believe that there is no workable legal method to ensure that everyone has a job without the government owning all businesses.
3. So under our legal system it is not possible to ensure that everyone has a job.

This is not about moral or immoral. It is about the reality of the situation.

If I do know how to mow lawns, but no one needs someone to mow lawns I am SOL and better learn a new trade. No one is required to hire me to mow lawns, and no one is requires to give me a job as a computer programmer if all I know how to do is mow lawns.

Maybe you should try responding to what I have actually written instead what you think I should have said.
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Old 02-10-2015, 01:45 PM
 
26,302 posts, read 12,745,940 times
Reputation: 12539
Quote:
Originally Posted by Frank DeForrest View Post
Unless you're a luddite, no "solution" is needed for automation,since automation has been raising economic prosperity and standards of living for a couple hundred of years.
No, it doesn't require being a luddite to point out that the rate of automation is starting to exceed our ability to replace the lost jobs, while all the prosperity is going to the top. Both of which were not true in the past.

A LOT different from the past. But hey, feel free to stick your head in the sand.
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Old 02-10-2015, 02:11 PM
bUU
 
Location: Georgia
11,904 posts, read 8,610,639 times
Reputation: 8359
Quote:
Originally Posted by jjrose View Post
No I am clarifying my point since you seem to be trying to put words in my mouth.
I really have been too uninterested in the diversion you're trying to engage in to put words in your mouth. Again, your games-playing is no longer amusing.

Quote:
Originally Posted by greywar View Post
No, it doesn't require being a luddite to point out that the rate of automation is starting to exceed our ability to replace the lost jobs, while all the prosperity is going to the top. Both of which were not true in the past.
That's key. Things have radically changed.
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Old 02-10-2015, 02:37 PM
 
Location: Middle of nowhere
20,281 posts, read 10,376,973 times
Reputation: 7940
Quote:
Originally Posted by bUU View Post
I really have been too uninterested in the diversion you're trying to engage in to put words in your mouth. Again, your games-playing is no longer amusing.

That's key. Things have radically changed.
So asking how something you support would work in real life is a diversion?

Ok. Way to support your position.
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