French economist now THERE is an oxymoron if i ever saw one... please
Posted on 06/15/2014 4:56:04 PM PDT by Kaslin
It is caused by some people working hard and being prudent, while others are lazy and profligate.
Inequality is caused for the same reason poverty, homelessness and immigration crises are being fostered: TO MAKE WAY FOR INCREASING STATE POWER AS THE ONLY APPARENT SOLUTION. This is CRISIS creation leading to collapse of our society and form of government to make way for complete totalitarian socialism.
Obamacare was designed to fail so we would then get single payer, i.e., socialized medicine. Obama’s economic policy is also designed to fail for an even bigger goal—the death of America.
I am unfortunately not an economist, but I’ve read several discussions and criticisms of Piketty’s work.
It looks to me like all commenters are missing what seems to me to be the elephant on the sofa.
The greatest returns in the last 20 years have not been on invested capital, they’ve been for creative ideas.
The founders of Google, Apple, Facebook et al did not get rich because they invested capital, they got rich because they created entire new industries using just their minds. The capital investment, while necessary, was among the least important factors in this generation of wealth.
Meanwhile, you can sit around and invest capital all you want, and in and of itself the return often sucks pretty hard. Extract the “creativity return” I’m positing, and I suspect the average return on “capital” has been pretty lousy.
But possibly I’m drawing a distinction that isn’t meaningful.
“Equality of outcome” is a Marxist myth.Why should I expect to make the same as a brain surgeon who completed 4 years of undergrad,4 years of medical school,8 years of post graduate training and 5 years setting up a practice when I only completed 2 years of college?
Inequality is the desired and natural condition of freedom.
Inequality is the desired and natural condition of freedom.
French economist now THERE is an oxymoron if i ever saw one... please
state capitalism, not free market capitalism = FASCISM!
Fascism is also known as “Crony Capitalism”, something El-Presidente is well known for. His buddies get some really sweet posts in “private” industry.
>> The capital investment, while necessary, was among the least important factors in this generation of wealth.
Capital is arguably the most important factor especially since an operation does NOT require extraordinary creativity to flourish. Furthermore, capital often plays an ongoing role in the operational life cycle for companies large and small. A company’s retained capital also plays an important role in growth and survival. Even distributed capital is often reinjected for sustainability and growth.
Statism demands equal misery for all but the overloads governing the statist economy.
Don’t be a statist!
Limbaugh said it best...The problem isn’t a unequal distribution of wealth, it’s an unequal distribution of Capitalism.
In a free capitalistic state “It is caused by some people working hard and being prudent, while others are lazy and profligate.”
State Capitalism is precisely what “Communist” China has.
Piketty’s article is about the relative return on invested capital vs. increase in wages/salaries.
My contention is that the return on capital is mixed in with the return for creative ideas, and that the really big returns are for the ideas, not the capital. This distorts the issue, and makes it look like merely having capital to invest ensures a great return. And it just doesn’t.
Inequality is caused by socialist...spread the wealth type governments. Immigration does not cause poverty or inequality. Singapore has 3.5 million citizens, and they allow 2 million foreigners to come and work in their country. On top of that their government is extremely friendly to business.
Result? Singapore has the highest concentration of rich people in the whole world. Every 6th citizen is a millionaire.
"Capital is arguably the most important factor."
I really doubt you mean that. You seriously think the most important factor in the success of Google, Facebook and Apple is that somebody invested capital?
Bingo! Inequality is caused by nature, nuture and human nature. The idea that you can eliminate inequality is so childish to be delusional.
I think we agree—except that immigration in this country is being used to overwhelm our borders and create a RAT voting bloc. If we were serious about immigration for economic purposes, we would recruit foreigners based on our needs—not a tsunami of the indigent from all over south and Central America. We have critical worker shortages around the country and yet we import people with no skills—only potential welfare recipients and emergency room guests.
Not necessarily. China has created 1.3 Million millionaires. You do not get there without allowing small businessmen to succeed.
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