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(in response to post 330, couldn't quote it, problem with my browser). I have done the research and I have drawn my own conclusions. It all started about 10 years ago, when I started to become increasingly concerned that something wasn't quite right with this world. Fractitional reserve banking, fiat currencies, usury/compound interest, keynes, greenspan, federal reserve, precious metals, corporate governance/CAFRs. I've studied all of it and much more. My search for the truth eventually led me to Jesus Christ, who IS The Truth, The Son of God, and The Savior of all men. As to the matter at hand, I can tell you WHY I believe you are mistaken, but it won't be through the marshalling of arguments made in books. As such I didnt know if it would be profitable to explain. However, if you would like to hear it, i'll explain. It's up to you.
(in response to post 330, couldn't quote it, problem with my browser). I have done the research and I have drawn my own conclusions. It all started about 10 years ago, when I started to become increasingly concerned that something wasn't quite right with this world. Fractitional reserve banking, fiat currencies, usury/compound interest, keynes, greenspan, federal reserve, precious metals, corporate governance/CAFRs. I've studied all of it and much more. My search for the truth eventually led me to Jesus Christ, who IS The Truth, The Son of God, and The Savior of all men. As to the matter at hand, I can tell you WHY I believe you are mistaken, but it won't be through the marshalling of arguments made in books. As such I didnt know if it would be profitable to explain. However, if you would like to hear it, i'll explain. It's up to you.
There are plenty of other places you can go to proselytize. If you came here to do it rather than discuss economics, you are much less likely to be taken seriously.
(in response to post 330, couldn't quote it, problem with my browser). I have done the research and I have drawn my own conclusions. It all started about 10 years ago, when I started to become increasingly concerned that something wasn't quite right with this world. Fractitional reserve banking, fiat currencies, usury/compound interest, keynes, greenspan, federal reserve, precious metals, corporate governance/CAFRs. I've studied all of it and much more. My search for the truth eventually led me to Jesus Christ, who IS The Truth, The Son of God, and The Savior of all men. As to the matter at hand, I can tell you WHY I believe you are mistaken, but it won't be through the marshalling of arguments made in books. As such I didnt know if it would be profitable to explain. However, if you would like to hear it, i'll explain. It's up to you.
There are plenty of other places you can go to proselytize. If you came here to do it rather than discuss economics, you are much less likely to be taken seriously.
Fair enough. I decided after all that I will attempt to explain my position.
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Originally Posted by leavingIL
Your premise rests on the ideas that there are a fixed amount of jobs that do not expand, and the labor pool can be too large. These are both false.
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Not exactly. The latter, yes….not the former. As to the latter, are you saying that the labor pool is not too large in modern day America relative to the amount of jobs available?
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Labor is an inherently scarce resource because each laborer is also a consumer, and his own desires will ALWAYS exceed the marginal value product for which is compensated by whoever purchases his labor. In easier terms, every worker works so he himself can be a consumer.
Well, here lies the rub: every worker's desire might be as you describe, but that doesn't necessarily translate into the worker actually earning enough money to make that desire become a reality.
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He will need groceries, transportation, a place to live, and to engage in his own leisure activities.
This is where things get muddled. He may need or want these things, but a job doesn't necessarily increase the demand for these things in the way that you seem to mean.
For example, imagine a teenager that just graduated high school, living with his parents. His parents experience a decrease in income, so they tell their teenager that if he wants to remain living in the family home he will need to begin paying for his own clothes, his own food, his cel phone bill, his car insurance, maintenance, gas, and his healthcare costs. The kid promptly goes out and gets a job, but the job doesn't pay enough to meet these expenses. As such, when his car breaks, he can't fix it. When he gets sick, he doesn't go to the doctor because he can't afford the co pay, he cuts back on buying clothes because he doesn't have enough money, etc etc..
Did net demand increase in the above example?
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Every time a worker is employed in ANY profession, the general consumer demand ALWAYS rises as a fundamental, inescapable law of economics.
I don't believe this is true, its much more complicated than that. Among other factors, you also have to consider the purchasing power of those that already have jobs, and the disposable income that the job generates.
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You would be right if there were only a fixed number of jobs in the country and all laborers desired to consume less than they were paid. But savings across the country are at an all time low (thanks to the Keynesians who encourage spending) and so even if it were somehow possible in a bizarre theoretical construction, you couldn't be more wrong in reality.
There is that word again- desire.
Sure, most desire to consume more than they are paid, but do most have enough money to do so?
I would argue, no way.
Why? Because the value of the vast majority of modern day labor is being stolen by parasites.
Examples include banks, taxes, insurance companies, and the mother of them all, which is the hidden inflation tax.
In other words, you wrote an extremely aggressive, mocking post using the logical fallacy of begging the question.
Then you followed it up with another extremely aggressive, mocking post with an accusation thrown in for good measure.
why don't you stop beating around the bush and explain your theocratic solution to sluggish wages through your lawd & savior?
maybe you could provide some insight as to how much his father made as a carpenter and how carpenter's wages have stagnated over several thousand years
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