Politics
Out of context: Reply #15647
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- ukit0
Roubini Warns of Global Recession Risk
http://online.wsj.com/video/roub…
Interesting comments from a mainstream economist
"In the last two or three years, we've actually had a worsening because we've had a massive redistribution of income from labor to capital, from wages to profits, and the inequality of income has increased and the marginal propensity to spend of a household is greater than the marginal propensity of a firm because they have a greater propensity to save, that is firms compared to households. So the redistribution of income and wealth makes the problem of inadequate aggregate demand even worse.
Karl Marx had it right. At some point, Capitalism can destroy itself. You cannot keep on shifting income from labor to Capital without having an excess capacity and a lack of aggregate demand."
- the whole capitalism blame game is DOA. For example explain what capitalism u refer to. You likely cant since its so bound by regulatory law and politics********
- bound by regulatory law and politics. True capitalism by ideal is liek nature. It creates balance in an environment********
- Of course if care to enlighten me with how you define capitalism it may shed light on your views********
- And the dangers of Marx logic is it offers great incentives for those without at the cost of everything long term. should beware it********
- be cautious of it generally speakign unless u want short term gaisn at cost of future generations. if so say so********
- That quote makes perfectly clear what he is talking about********
- that quote didnt mention capitalism. Actually doesnt say too much.********
- every second word is capitalism in that quotedrgs
- depends on how u see it. but must be explained. explaining why one sees thign the way they do is a key to communication********
- communication. if ukit sees any wealth distribution as capitalism or balnce of aggregate demand his logic is falwed********
- flawed. a large generalization which is likely to promote political talking points.********
- Basically it is saying that as income inequality increases the economy goes to shit because overall demand dries up.ukit
- up. Not sure what part of that is so hard to understand.ukit
- I didnt like your wording mud slinging capitalism as the culprit of perverse wealth disparity********
- Disparity is natural, but any large increase these days is likely only made possible by large gov.********
- Just look at the bailout and who it is authorizing taxpayer dolalrs to go to bailouts or tax breaks. its gov.********
- disparity is natural. seems as rich get richer everyday peoples purchasing power moves up. both classes move up but disparity increases********
- but mroe disparity is there. and lately it seems mroe perverse but to me its all becuase of peopel trying to plan econ in gov.********
- gov. and also i think disparity gap can highly be realted to education. If peopel are smarter less disparity. if pops grow with large masses of idiots larger disparity********
- grow with mroe idiots larger disparity. Causes can be related to immigration, and slums living on entitlements********
- nothing personal. i just dont liek the blatant capitalsim excuse. less free markets mean less freedom and likely lower class gets fucked********
- classes get fucked. and since im in the lower class i feel the need to defend the econ system that likely prevents me being sacrificed********
- from being scrificed to even lower classes by higher classes********
- the whole capitalism blame game is DOA. For example explain what capitalism u refer to. You likely cant since its so bound by regulatory law and politics