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Author Topic:   Economics 101 - Evidence Based Decision Making
ramoss
Member (Idle past 612 days)
Posts: 3228
Joined: 08-11-2004


Message 31 of 36 (760910)
06-26-2015 1:16 PM
Reply to: Message 22 by ringo
06-25-2015 12:06 PM


Re: Inequality & Growth
Is it?? Have you ever hard of Company scrip ?? Back in the day, miners were paid in company scrip rather than real money. The only place to spend that scrip was in the company store.

This message is a reply to:
 Message 22 by ringo, posted 06-25-2015 12:06 PM ringo has replied

Replies to this message:
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ringo
Member (Idle past 412 days)
Posts: 20940
From: frozen wasteland
Joined: 03-23-2005


Message 32 of 36 (760915)
06-26-2015 1:30 PM
Reply to: Message 31 by ramoss
06-26-2015 1:16 PM


Re: Inequality & Growth
ramoss writes:
Have you ever hard of Company scrip ??
jar already mentioned it.
The company can still fire you and evict you from your house. A slave is a material asset whereas an employee, no matter how badly paid, is not.

This message is a reply to:
 Message 31 by ramoss, posted 06-26-2015 1:16 PM ramoss has not replied

  
anglagard
Member (Idle past 836 days)
Posts: 2339
From: Socorro, New Mexico USA
Joined: 03-18-2006


(1)
Message 33 of 36 (761044)
06-27-2015 12:37 PM
Reply to: Message 18 by Jon
06-22-2015 8:08 PM


Good Night and Good Luck
Jon writes:
Looks like mikechell has given up on EvC for good.
After I created this thread primarily so he could vent in the appropriate venue lest he run afoul of the admins?
Oh well, it's not like I expected him to allow his beliefs to withstand any scrutiny.
Nevertheless this thread stands as a placeholder for the next equivalent.
Edited by anglagard, : title

Read not to contradict and confute, not to believe and take for granted, not to find talk and discourse, but to weigh and consider. - Francis Bacon

This message is a reply to:
 Message 18 by Jon, posted 06-22-2015 8:08 PM Jon has not replied

Replies to this message:
 Message 34 by Theodoric, posted 06-28-2015 11:31 AM anglagard has not replied

  
Theodoric
Member
Posts: 9076
From: Northwest, WI, USA
Joined: 08-15-2005
Member Rating: 3.7


Message 34 of 36 (761106)
06-28-2015 11:31 AM
Reply to: Message 33 by anglagard
06-27-2015 12:37 PM


Re: Good Night and Good Luck
I guess it is too much to expect someone to defend the indefensible. Hopefully he learned something, but he probably went back to the right wing sites he probably came from.

Facts don't lie or have an agenda. Facts are just facts
"God did it" is not an argument. It is an excuse for intellectual laziness.

This message is a reply to:
 Message 33 by anglagard, posted 06-27-2015 12:37 PM anglagard has not replied

  
anglagard
Member (Idle past 836 days)
Posts: 2339
From: Socorro, New Mexico USA
Joined: 03-18-2006


(2)
Message 35 of 36 (780242)
03-12-2016 9:37 PM


Finally Someone Knows the Deal
Since I took macroeconomics back in 1988, I have found only one maxim in the entire field always holds true -- the monetarist equation:
MV=PQ
Where
M=amount of money available in a given economy
P=aggregate price of goods
Q=aggregate amount of goods produced
V=velocity of money, aka the amount of times per year a given currency is spent on goods and services
The problem with increasing income inequality is:
quote:
Well, I think it’s quite simple, he began. If you look at something called ‘velocity of money’you guys know what that is, I presumethat means how much gets spent and turns around. When you have the top one percent getting money, they spend five, 10 percent of what they earn. When you have the lower end of the economy getting money, they spend 100, or 110 percent of what they earn. As you’ve had a transfer of wealth to the top, and a transfer of income to the top, you have a shrinking consumer base, basically, and you have a shrinking velocity of money. Bernie is the only person out there who I think is talking at all about both fiscal stimulation and banking rules that will get the banks to begin to generate lending again as opposed to speculation. So from an economic point of view, it’s straightforward.
source
What is amazing is the top 1% would actually be more prosperous if they allowed the other 99% to a share of the profits instead of using their wealth to suppress all others financial well-being by bribing politicians. I guess their love of money is second to their enjoyment at watching others suffer since they pay dearly for this entertainment.
What is surprising is the source of the above quote, Asher Edelman, the purported inspiration for Gordon Gekko (I always thought it was Mitt Romney).
Anyone is welcome to refute the monetarist equation by providing a single counterexample, just as they can try to refute gravity and thermodynamics and evolution.
Good luck, Jews for Hitler. Oh look, there's a Mexican, get em'.
Edited by anglagard, : Provide source

Read not to contradict and confute, not to believe and take for granted, not to find talk and discourse, but to weigh and consider. - Francis Bacon

  
NoNukes
Inactive Member


Message 36 of 36 (780273)
03-13-2016 11:41 AM
Reply to: Message 4 by RAZD
06-20-2015 8:27 PM


Re: balanced budgets
N. Carolina's Pat McCrory are all dealing with budget deficits that republican policies made happen.
Not sure how to assign the blame here in N. Carolina. One of the reasons the governor and state legislature is now dominated by Republicans is because the democrats made a mess of things when they had the hammer. McCrory inherited quite a financial mess from the previous democratic governor.
I am not fan of McCrory or the republican legislature's expressed policy of interfering in the affairs of the more progressive cities in the state, and I am appalled by his economic policy and the rampant cronyism. But we cannot blame much of NC's current financial woes on the current administration.

Under a government which imprisons any unjustly, the true place for a just man is also in prison. Thoreau: Civil Disobedience (1846)
History will have to record that the greatest tragedy of this period of social transition was not the strident clamor of the bad people, but the appalling silence of the good people. Martin Luther King
If there are no stupid questions, then what kind of questions do stupid people ask? Do they get smart just in time to ask questions? Scott Adams

This message is a reply to:
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