If you or I are represented as the top block in this pyramid, all the mothers and fathers who got us to this point over hundreds of generations may be imagined as building blocks to create this symbolic metaphoric image. Each of us has a biological mother and father. Those two parents our grand parents have four parents between them.
Some people continue to defend trickle-down theories, which assume [? This opinion, which has never been confirmed by the facts [! Pope Francis IEvangelii Gaudium, "The Joy of the Gospel," November 26,exclamations and questions added, The European Dream, with its emphasis on collective responsibility and global consciousness Jeremy Rifkin, "The European Dream," Europe is an economic success, and that success shows that social democracy works.
Guess a Nobel [i.
Like them, he has driven the U. Then again, neither of his predecessors had such visible evidence of where social democracy ultimately leads. Referendum on Europe," The Wall Street Journal, Tuesday, January 3, Economists agree that a large capital stock is a key ingredient for prosperity, as it expands our productive capacity and raises worker productivity, which in turns increases wages and consumer purchasing power.
Our capital stock is comparatively much smaller today than it was before the Great Depression. Where there is investment -- a new factory or distribution facility being built, a new store about to open, new software being installed -- that is where new jobs are created.
It is no coincidence that during this period of subpar growth, private capital investment as a percentage of our economy is at post-World-War II lows. Walter WristonCiticorp Chairman, All economic problems are about removing impediments to supply, not demand. But Keynes, unlike many of his followers, was not a man of the left.
Barro Harvard"Keynesian Economics vs. Regular Economics," The Wall Street Journal, Wednesday, August 24, regarding the demand side "multiplier" The principle of Keynesian economics is to stimulate demand. This done by distorting the labor market through artificially inflating wages or actually fixing wages.
Price manipulation and price fixing always result in either surpluses or shortages of what is manipulated. This part of Keynesian strategy thus increases unemployment, which is the surplus of labor.
The other part of the strategy is public spending, which always ends up being done for political rather than economic reasons, in part because governments cannot successfully engage in macroeconomic calculation.
This was predicted by von Mises and Hayek and demonstrated, not just by the economies of the Soviet block, but by almost every government spending program that has ever existed.
Government spending also siphons off capital from the private economy, which inhibits hiring, production, and investment.
The whole Keynesian program is thus grotesquely counterproductive, except to the privileged and often connected few to whom the inflated incomes and government money actually flow. The results are dismal.
And so suddenly businesses are doing well, the economy is doing well, and we get into a virtuous cycle. And we go up We believe that when a CEO pays his auto workers enough to buy the cars that they build, the whole economy does better.
The real job creators are the vast middle class and the poor, whose spending induces businesses to create jobs. That is why raising the minimum wage, extending overtime protection, enlarging the Earned Income Tax Credit, and reducing middle-class taxes are all necessary. Robert Reich, Secretary of Labor,Mar 10, -- so how does a new business hire people before selling anything?
Hillary Clinton, at a Democratic rally in Massachusetts, October 24,There is no alternative to strong economic growth.
The missing piece is a global growth agenda led by a U. The natural or default minimum wage is not any positive number.
Only "liberals" and "progressives" can think of a way to pay workers nothing and expect them to be happy and grateful.
Such workers are called "interns. Yet advocates of minimum wage laws seem to think that the government can raise the price of labor without reducing the amount of labor that will be hired.
Thomas Sowell, "Minimum Wage Madness," September 17, One network producer told me, "When I wrote stories about workers protesting to gain a hike in the minimum wage, I was not allowed to write that the majority of the people protesting were not minimum wage workers, but were paid by outside groups to protest In these interviews, all 10 revealed to us that they had several times been offered raises, but turned them down becaue of the added responsibility that came with the pay hike.
|What's Related||What sphinx of cement and aluminum bashed open their skulls and ate up their brains and imagination? Ashcans and unobtainable dollars!|
|Meditations On Moloch | Slate Star Codex||Lawrence THE HANDLE, which varies in length according to the height of its user, and in some cases is made by that user to his or her specifications, is like most of the other parts of the tool in that it has a name and thus a character of its own. I call it the snath, as do most of us in the UK, though variations include the snathe, the snaithe, the snead, and the sned.|
There is never enough of anything to satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.About AFP.
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Ovid was born in Sulmo (modern Sulmona), in an Apennine valley east of Rome, to an important equestrian family, on 20 March, 43 BC. That was a significant year in Roman politics. He was educated in rhetoric in Rome under the teachers Arellius Fuscus and Porcius Latro with his brother who excelled at oratory..
His father wanted him to study rhetoric toward the practice of law. Ah, but super-human AI is not the only way Moloch can bring our demise. How many such dangers can your global monarch identify in time? EMs, nanotechnology, memetic contamination, and all the other unknown ways we’re running to the bottom.
The catalog of the near future’s normal ordinary everyday.
Imagine a print distribution network with cloud-connected street vending/printer boxes. The progress seen in the late 20th century has stalled in the 21st. Even though around 40% of the world’s population, more people than ever before, live in countries that will hold free and fair.
In , at the age of ten, I received the First Provincial Award of Ludi Juveniles (a voluntary, compulsory competition for young Italian Fascists—that is, for every young Italian).