Let’s keep inefficient cost structures in America Again!
Meh, the whole concept of “free markets” is nonsense. Americans worship this crap, and it’s why they are in this mess. So making modifications to these broken markets (aka planning) is smart. However what he is doing, ignoring root cause, is not smart.
Nobody will address wealth concentration. Simply take all that wealth that was stolen from the people (via outsourced jobs, busted unions, robotics, held down wages, increased prices), and redistribute it. There is no other way.
Also, the laws governing corporations need to be totally reworked, it’s stone age capitalism.
^ Free markets is essentially just collectively deciding to let the people with all of the money make all of the rules. Which is really just the illusion of freedom. The 300 richest people have more money than the 3 billion poorest. But you’re not a peasant, you’re better than that… because every four years you get to vote for one of two shitty choices held out to you by a system run by people long ago bought and sold by the people with all the money. The idea that free markets are necessarily serving anybody but those people seems flawed.
fixed that for you. you can have people’s wealth/power when you pry it from their cold dead hand. Good luck marshaling the resources to overcome the power that goes along with the current level of wealth concentration. I’m guessing it wouldn’t be a peaceful transition.
Saw this in Bill Gross’s newsletter today and immediately thought of this thread (talking about the steps of today’s inneffective policies):
- Promote capitalism – even though government controlled, near zero percent interest rates distort markets and ultimately corrupt capitalism as we once understood it. Reintroduce Laffer Curve logic to significantly lower corporate taxes. Foster hope. Discourage acknowledgement of abysmal productivity trends which are a critical test of an economic system’s effectiveness.
This
Right. Free markets work well when wealth is not highly concentrated. Once it gets superconcentrated, there really isn’t much distinction for most of us between letting the state have highly concentrated powers or letting the wealthy have highly concentrated powers vis-a-vis their relative wealth. The fact is that either can effectively coerce us, it’s just that they use different tools to do it.
Once concentration has gotten to current levels, I’m thinking that there is really no readjustment that isn’t going to seem extremely unfair to someone, hence the polarization and escalation of violence.
Good catch!
Gross is effing brilliant.
The Laffer Curve is a fricking joke. Easily one of the biggest failures in modern day economics.
Nobody voted for Trump because of his clear set of coherent policies. I just hope that the people who believe “presidents don’t matter that much” are right.
0%-zero revenue. 100%-zero revenue. How would you fill in the middle?