From Laurie: Unrelated link on income inequality:
A Look At Income Inequality Around the World: It’s a Choice, Not a Destiny
A Look At Income Inequality Around the World: It’s a Choice, Not a Destiny
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About Me
- John
- I am married and we have 3 adult daughters and a dog. We live in Plymouth MN. My interests are learning, communicating, home improvement projects, motorcycling, boating, and other outside activities. Thank you for reading my blog and have a great day !!!
2 comments:
As I have noted elsewhere in a different context, I am not a big fan of gap type thinking. Gaps are a statistical artifact that don't correlate to anything in the real world.
My favorite gap joke is from Russia. A farmer complains to God, that his neighbor has a goat, and he doesn't. "What do you want me to do about it?" God replies. The farmer answers, "I want you to kill my neighbors goat."
I don't care a lot about the issues of rich people. They have the money and the power to protect their own interests. Nor am I convinced that the Republicans are right, that Democratic policies redistribute wealth. I wish they did, but they don't really. Instead, I care bout the issues and interests of people who aren't rich, who aren't in a position to pay off Congressmen for tax breaks, the folks who wouldn't even know how to hire a lobbyist. And I will tell you a little secret. The zero sum economics, now so fashionable within the Republican Party, don't work all that well in real life. Instead of trickling down, wealth trickles up. When poor people do better, everyone does better.
--Hiram
Economists are funny in that they insist that there are right answers instead of just different answers. They assume that policy should maximize economic activity and economic growth, and that policies that detract from those goals are wrong. But that isn't the way we have to look at things. Consider free trade. Free trading policies contribute to economic efficiency. They encourage people to do what they do best, and discourage them from doing what isn't. But the result is often economic dislocation. Workers in inefficient lose their jobs. But does this have to be our policy? Are there circumstances when we wouldn't be better off in various ways if we reduced economic efficiency? Made ourselves less productive, even less wealthy? Well, this is what protectionism does. It suppresses economic activity. It tends to perpetuate the status quo. Is this good policy? Maybe, and maybe not. Are you happy where you are? Are you content with economic lot? How comfortable are you with policies that will make others richer if they make you poorer?
--Hiram
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