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There's nothing wrong with income inequality. There's quite a lot wrong with oligarchy and feudalism.
Henry Ford, a man who knew a thing or two about capitalism, made sure that his workers earned enough money that they could afford to buy their own product. Nothing terrible happened to the economy.
And they made expensive things, they weren't 2 cent burger flippers.
What you notice if you look at the graphs is that income inequality increases during times of prosperity. It decreases during recessions. I prefer increasing income inequality.
What you notice if you look at the graphs is that income inequality increases during times of prosperity. It decreases during recessions. I prefer increasing income inequality.
The reason is bubbles. It's artificial. I've noted often times that those like yourself enjoy government welfare programs when it benefits you.
The Fed interjected billions of dollars of welfare into Wall Street. We weren't prosperous.
The reason is bubbles. It's artificial. I've noted often times that those like yourself enjoy government welfare programs when it benefits you.
The Fed interjected billions of dollars of welfare into Wall Street. We weren't prosperous.
Please, the fed injected money and in times of labor surplus that money does tend to go to capitalists. Low inflation shows that the interjection of money has done no harm. Typically before the era of globalization (see Milton Friedman "Free to Choose") inflation tended to follow money growth by 18-24 months. Since the era of globalization it is taking both more money to produce a stimulus and more money to produce inflation since the money is mosly going to people with a lower propensity to consume than in the past. The fact is if the Fed prints too little money as it did in the 30's you have a much bigger problem. Low money supply was the chief cause of the Great Depression. Once again see Friedman's "Fre to Choose". The Fed has actually done a good job since the early 80's. Low inflation and relative prosperity. And. no, government will never eliminate the business cycle.
Please, the fed injected money and in times of labor surplus that money does tend to go to capitalists. Low inflation shows that the interjection of money has done no harm. Typically before the era of globalization (see Milton Friedman "Free to Choose") inflation tended to follow money growth by 18-24 months. Since the era of globalization it is taking both more money to produce a stimulus and more money to produce inflation since the money is mosly going to people with a lower propensity to consume than in the past. The fact is if the Fed prints too little money as it did in the 30's you have a much bigger problem. Low money supply was the chief cause of the Great Depression. Once again see Friedman's "Fre to Choose". The Fed has actually done a good job since the early 80's. Low inflation and relative prosperity. And. no, government will never eliminate the business cycle.
Ask the people at the grocery store if inflation is low. Yes, the oil bubble popped which has helped but that was a massive tax on the poor and middle class.
It's not a "business cycle". It's artificially created bubbles.
I would be more interested in effort inequality, or risk inequality. Why do some people have to work harder or risk more to get ahead?
Shouldn't everyone be able to sit on their ass and earn a million dollars a year and have none of their own money or time invested?
Of course I am joking, but that is where this silly issue is going.
Joking? I missed the joke. That is what happened. Well, they did have to invest a little time.
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