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Wealth Inequality in America

renatojj says...

Hi @Krupo, you raise interesting points, I'm not sure I can address all of them, even though I think a few issues are worth talking about. I'm sorry you felt I was unfair towards @dag, I can assure you that wasn't my intention, because even after reading your post, I'm not sure I see much difference between taxing individuals and mining companies (at least for the point I was trying to make, IIRC).

I wonder what is it about a natural resource that is underground (and that is mostly useless unless extracted), that makes it such a crime to extract and sell it without some additional taxation. It's not like removing oil or minerals is damaging anybody, and it wasn't actually available until someone extracted it. Sure, if there's pollution, or destruction of property, they should pay. However, just paying because it's a "natural resource", when they're the ones making the resource available to society, seems wrong to me, but I guess those who benefit from taking other people's money can always come up with rationalizations to collect a tax.

If we do charge more taxes for mining, though, won't the company just transfer the taxes to the final product, taxing consumers and other industries? More importantly, will raising taxes contribute in any way to better wealth distribution?

Remember, taxation doesn't mean giving money back to society as we often like to think, it just means giving money to government. That's a big difference. Government uses money not just for operation, but as a tool to further its own political agenda, one that sometimes involves corruption, and the added power that comes with it. Why is it best for society to give government more power? Why is society better off by giving government more fuel for waste or corruption?

The reason I mention corruption is because I believe it's an important contributing factor to wealth inequality. I also happen to think corruption plays a significant part in how a government operates, even in the fairest of democracies.

Bono: Capitalism Takes More People Out of Poverty Than Aid.

Obama Gives Monsanto Get Out of Jail Free Card

Lawdeedaw says...

The federal courts don't sell seeds and they cannot be sued

Anyways, the problem with the courts is that they deal with issues that are not catching up with the times. Gay marriage? Too new a civil rights issue. Corporations are people? Yeah, but that's okay because it doesn't take away our democracy, does it? Damn goggle won't tell me!

If we want to truly look at government the way you do (That it can in no way go outside of it's scope for any reason) then you are effectively saying much with this myopic view--in my opinion. For example, in a free market capitalism, it is not the governments job to throw up one roadblock to any form of success. Monopolies are currently discouraged even though it is not the job of the government at all to do so. It's counter to capitalism. Free enterprise should be ruthless and profit driven. It's only checks and balances should be the consumers. One monopoly should have already risen to take over all America's communications, industrial and consumer services. Another monopoly for natural resources; food and gas, etc.

This is the true result of competition. One chess player wins the tournament and takes home the prize, the others lose.

Then when these two companies want to discourage protests and such, they should be able to block out entire neighborhood's food supplies and starve them to death. (This has happened in other countries since the beginning of time--though mostly government owned there is no reason a corporation cannot do this.) After all, it's not their job to provide people food--they are just a business and if they want to pull their business, meh. After all, the people dying are competing with the corporation.

You may find this analogy off track, or even silly, but I am trying to point out something serious. Government either changes with times or we destroy ourselves.

Ps, wrote rather quickly because I gtg. Wife and kids stuff.

arekin said:

Sigh, its not a federal courts job to stop health issues in food, its the FDA. The EPA is responsible for any environmental problems they cause. This really does nothing.

Edit: also federal courts can't halt sale, they can be sued for damages if they make a seed that hurts you.

Does Capitalism Exploit Workers?

rbar says...

@renatojj Apologies for the late reply, have been running for work and it doesnt look like that will stop

True that some countries may have less cooperation, though is that dependent on the economic system used or something else? For instance, East Germany had 100% employment and a very active economy, more so then west Germany in some regards. It was ofc run top down with little choice and politically biased, but I am not sure if that lessons the amount of economic transactions, ie cooperation. I guess it comes down to what you define as cooperation.

BTW "those criticisms of the depletion of finite natural resources consists of the economic Law of Diminishing Returns, opportunity cost, and scarcity in economics" -- I never understood what they mean with that. Even if the resource cost goes up strongly due to scarcity it doesnt mean that that resource can be replaced by something else, or that the higher cost (than the original cost of the scarce resource) of the replacement can be born by its consumers.

Now you say something very interesting: I agree with you that capitalism isnt always about ever-increasing competitiveness, in practice. In cases where you have competition, you get ever-increasing competitiveness. (This is in theory what all capitalism strives for) In cases where you do not have competition you dont. That is exactly what we are talking about. Free market philosophy assumes there is always near perfect competition right? How else would the market balance itself if there is no competition? Would you agree that free markets only work where there is competition?

Lets see when we have competition:

"competition is proportional to the difference between supply and demand" That doesnt sound right. If there is large demand and little supply (the difference is big), there is little competition as all suppliers will overcharge like hell as they will be able to sell anything they can manufacturer anyway. If there is large supply and little demand there can be competition, though usually this results in companies leaving the market until you have: If the supply and demand are about equal, you SOMETIMES have competition that keeps things in balance. Or you can have a monopoly for whatever reason and that market has again little to no competition. In other words, in no single scenario is competition guaranteed. Actually, there is good reason to assume markets move to monopolies naturally in all cases. In a market that is turning from early adopters to mass market, there is always focus on economies of scale. Companies need to get bigger to make sure they have the lowest cost price (best competitive edge) and to keep their shareholders happy as they demand growth to make their investments worth more. Bigger companies means fewer companies on the long run, as the market is always limited. This means companies will take over other companies until only a handful remain. Voila. Actually, if it werent for (anti-free market) anti-monopoly rules lots of markets would only have 1 company left. That company would be so big it would be impossible for a new entry to push them out of the market or even get a foothold unless the market itself crumbles because a newer range of products exist that make the old one obsolete. Again, without rules governing economies, things just go bust.

Which was what happened in the derivatives market. It was a completely deregulated market that was exploding itself as there were no rules governing it. When it did explode (ie when the free market failed) there were 2 options left: Let all banks fail or bail them out. Think of the consequences of following your recommendation: If 1 bank fails, it will pull the others down with it as they are all strongly interconnected. As banks are key in the economical world, the entire system would collapse. The amount of devastation would be huge, would probably kill the entire system. Now, you can argue that would be good for us, as we could build a fully new system. But before we would get there, there would be years if not decades of nightmares.
I agree with you that the fall of the derivatives market should never have happened in the first place which is exactly the reason to not follow free markets.

Above clarifies a bit my way of thinking: for many of these markets (be it banks or utilities or employment) the consequences of letting that market fail are just too big. If you have the guts to follow free markets to the end, it might work (isnt proven though) but you come to a point where you destabilize your country in such a manner that things like revolts and all kind of nastiness are highly possible and even likely. That is not progress, that is barbarianism.

You mention yourself that there are practically no free markets anywhere. You say that is because they havent been tried. I say that they have been tried again and again but never last.

Does Capitalism Exploit Workers?

renatojj says...

@rbar I didn't call you a socialist, I don't know you that well! It was about your portrayal of capitalism. Also, I apologize for referring to free market capitalism, subject of this topic, as just "capitalism", that caused understandable confusion. I completely agree with you that some of those "isms" fall under a broader definition of capitalism, as they're social orders dependent on private property rights. Those who advocate free markets like me, however, really tend to consider free market capitalism as the only real one, while variations are just "less capitalistic" or not capitalism at all.

Any economic system is as cooperative as the next? Hmm... I don't know, rbar. Would you say there's as much cooperation inside North Korea as there is in South Korea? The old East and West Germanies? Surely any country with a lesser economy enjoys much less cooperation of their citizens among themselves (or with other countries) than a country where policy favors economic growth, no? Very common in North Korea, the "do what I tell or you'll starve in a concentration camp" approach, just isn't my favorite definition of cooperation. Coincidence or not, their economy is shit.

You raise a very important issue of limited resources, that wikipedia article on Capitalism explains better than I ever could, that counter-arguments to "those criticisms of the depletion of finite natural resources consists of the economic Law of Diminishing Returns, opportunity cost, and scarcity in economics". Interesting stuff.

My issue is with you portrayal of capitalism as ever-increasing competitiveness, because it's kind of biased and overlooks the abundance of cooperation. Imagine looking at a crowded night club and describing it simplistically as "a bunch of people struggling for the attention of the opposite sex". Seems pretty accurate if one hates night clubs. There is competition going on, specially for the most popular people, but what about all the other people enjoying each other's company over drinks, talking, flirting, and laughing, couples making out and enjoying the music on the dance floor? Who would describe those activities as purely competitive?

There is a lot of supply and demand in a capitalistic economy, not trying to sound like an economist, but competition is proportional to the difference between supply and demand. So what about where supply is meeting demand, should we just overlook the huge amount of cooperation happening there?

I find it amusing that you ask "What? What policy?", then, at the end of the same paragraph, write "The way the bailout happened is ... utter crap, but that is a different story all together." No, it's not a different story, the bailouts are government/central bank policy, partly the answer to your important question. Stepping in and handing out money to bankers who should have been punished by their excessive risk-taking with bankruptcy, is the exact opposite of letting free markets work.

To try to answer your persistent request for examples of free markets, if you didn't realize it yet, free markets are not very compatible with central banks, institutions that have a legal monopoly over what happens to half of a country's economy (usually half of all economic transactions involve money). Now, do you know how many countries have central banks today? Except for Monaco and Andorra, all of them.

Centuries ago, there wasn't a single country in the world where people enjoyed freedom of expression. That fact could be considered an obstacle to its adoption, but never a testament to its impracticality.

What do you do for work ? (Talks Talk Post)

kymbos says...

You people work and sleep some crazy hours!

@lucky760 how can you work till 3am then get up at 5:45am? I would not be able to cope with that.

I get up around 6am when my daughter wakes up and starts yelling for attention, I hang out with her till her mum gets up with our baby, I ride my motorbike the 15 minutes to work between 8 and 9am where I work as a consultant economist in environmental and natural resource management stuff. I leave work before 6 to get home to the family, put the kids to bed, hang out with my wife, go to bed usually before 10 because the baby could get up anywhere between once and three times a night.

A 12-Year Old Girl's Devastating Critique of the Banks

jmzero says...

She has about the level of understanding I would expect from a bright 12 year old. If her parents are feeding her this, they have a "bright 12 year old"'s understanding of the financial system. About the same as Ron Paul.

Canada has debt because it spends more than it takes in. Doing so in recent years has been mostly a good decision - and generally it's hard to argue with Canadian fiscal and bank-regulatory policy given its recent performance. We've weathered the recession better than most other places (partly this is due to the our natural resources and industry mix, but not completely).

Fractional reserve banking has a complicated effect on the economy. It's not easy to fit this into a 5 minute talk, but it allows for beneficial ways of managing and growing the economy.

If you think banks are just stealing money, go start a bank or invest in one. You'll find that they're businesses like any other, and that Canadian banks are mostly well regulated, and mostly make their money in responsible ways. Banks are not magic, and individuals can leverage money in many of the same ways they do.

On the flip side, there's been tremendous misbehavior by American financial companies (most of these aren't best described as banks) in the last decade, supported by bad laws. Some people got very rich while the economy got screwed to Hell. This had nothing to do with the basic ideas of fractional reserve banking, and everything to do with naked dishonesty, regulatory capture, and plain old corruption.

Armed Chinese Troops in Texas!

Drachen_Jager says...

>> ^quantumushroom:

If only this were true! Let Europe and South Korea and everyone else pay for their own national defense, and welcome the red chinese bases that will replace ours.


Nah, the Chinese are too smart to waste billions of dollars that way. They'd just buy up the oil and natural resources sectors of those countries and reap the profits because corrupt governments allow them to... Oh wait... They're already doing that.

Oil Spokesperson plays "Spin the question!"

Sagemind says...

The $5.5-billion Enbridge pipeline project is all about sending Alberta bitumen in huge oil tankers to China. Beijing’s own state enterprises are among the project’s major backers, and Beijing has been buying up Alberta’s oilpatch at such a dizzying pace lately it’s hard to keep up. In the spring of 2010, China’s state-owned Sinopec Corp. took a $4.65-billion piece of Syncrude. Then the China Investment Corporation, which is run by the Chinese Communist Party, took possession of a $1.25-billon share of Penn West Petroleum. Last summer, the Chinese National Offshore Oil Corporation gobbled up Opti Canada for $2.34 billion. And so on.

Then, last month, Sinopec spent $2.2-billion to take over Daylight Energy Ltd., and last week, Petro-China, with the final push of $1.9 billion, became the owner and manager of the MacKay River oilsands project. This is what Ottawa doesn’t want you noticing.

----

It turns out that two can play this sort of game. B.C.’s environmentalists are now making great sport of it, pointing out that Ottawa’s “ethical oil” branding exercise was begun by Conservative party gadfly Ezra Levant, who was succeeded at the Ethical Oil institute by none other than the otherwise intelligent Alykhan Velshi, who parked himself there between his term with Immigration Minister Jason Kenney and his new job in Stephen Harper’s office. Bonus points: Ethical Oil dial-a-quote Kathryn Marshall is married to Hamish Marshall, Harper’s former strategic planning manager.

While it’s all good fun to play Spot the Freemason, something very serious is going on here. Last summer, John Bruk, the Asia Pacific Foundation’s founding president, warned that Ottawa was ignoring the rapid emergence of Chinese government interests “in sheep’s clothing” taking over Canada’s natural resource industries. Bruk told B.C. Business magazine: “Are we jeopardizing prosperity for our children and grandchildren while putting at risk our economic independence? In my view, this is exactly what is happening.”

http://www.ottawacitizen.com/story_print.html?id=5981230&sponsor

a message to all neocons who booed ron paul

ChaosEngine says...

>> ^Winstonfield_Pennypacker:

We're debating why we were attacked by a handful of radical folks
Pht - I can answer that in one word. Isreal. Next?
...whether or not our military engagement, specifically since WWII, has been productive in any measurable way...
Productive to who and in what way?
You see - to a leftist - your question is unanswerable. Like Ron Paul, leftists view any military intervention by the United States as unproductive. By their very natures it is literally impossible to supply a leftist with any response that they will find satisfactory. Leftists come from a particular philosophy and perspective that disallows the word 'productive' to be used in the same sentence as 'American military engagement'. Heck to this day there are leftists who even question whether the US should have gotten involved in WW1 or WW2 or not.
Other people with other perspectives are not quite so closed-minded about whether or not a military action was 'productive' or not because they allow other definitions of 'productive' to be satisfied. But to a Proglibdyte, ANY US military action is viewed as unproductive.


Bollocks. I'm a socialist and I firmly believe that not only was America right to get involved in WW2, it was right to get involved in Libya recently.

Typical "rightist" attitude. You can't see any nuance or context. The left opposed Americas intervention in Vietnam, in Iraq and guess what? They turned out to be fucking right. Hell, I don't even remember that much left wing opposition to gulf war 1, other than the likes of Bill Hicks pointing out the ridiculous position you were in was largely of your own making.

As for "American exceptionalism", the USA had some grand ideals, and should be commended for that. But the reason it occupies the place it does in the world today is down to geology (it was rich in natural resources) and geography (America has never had a strong belligerent neighbour). So really, more down to good luck than good management.

a message to all neocons who booed ron paul

jmzero says...

America was innovating, inventing, testing, and producing when the rest of the Western world was literally standing still.


Well... the US did grow quickly in the 19th century as it utilized its tremendous, largely untapped natural resources, but it didn't take its "super-power" position in the world until after WWII. And then it took the position by default; Europe was a series of craters.

Now clearly the US did well post revolution (I mean, compare it to other places in the Americas with similar opportunities), but I don't think we can ascribe this to specifically American stuff. Its advantages: good organization, infrastructure ideas, lack of corruption, strong property rights, rule of law, and empowerment culture - these were all borrowed ideas. No, its prime differentiator was fantastic natural wealth. By the time America was ascendant, countries in Europe (especially Britain) had to import tremendous amounts of raw resources while in America you could - for example - just cut down a tree if you needed wood, or wander over a few more miles if you wanted land and water and minerals and (later) oil.

Don't get me wrong, there's a lot of good things about American culture and institutions. But using its economic and innovation success as proof of that is a little too convenient.

Rep Sanchez: Republicans Admit To Holding Economy Hostage

Winstonfield_Pennypacker says...

all of those bills are just ones the GOP themselves say are jobs bills, not anything having to actually do with jobs

And Obama's bill is just one that he says is a job bill, not anything having to do with jobs.

UCwhutididthere? From a fiscally conservative position, the GOP bills are about jobs. To a hard-left prog-lib-dyte, they aren't. To a fiscal conservative, Obama's bill is an absolute joke, but to a proglib-dyte it looks wonderful.

The truth is that both approaches are "methods" for creating jobs, but take different approaches. The GOP is using free markets, natural resource development, and small business tax breaks as a means of spurring job growth. The Democrats approach is taxes and deficit spending on temporary jobs and unions. But the past 3 years has shown us that Obama's approach is crap, and the GOP is saying "here's a viable alternative - let's try it". The Democrats in the Senate are saying, "Oh no you ain't going there!" Meanwhile the Democrats and President are saying, "Let's keep going what we've been doing for the past 3 years..." and the GOP in the House are saying, "Oh no you ain't going there!" It's a philosophical debate, and the nation as a whole prefers the GOP approach - not the President's. So he's trying to get the stupid and the suckers to buy into this moronic "do nothing" congress line. He's got nothing else because poll after poll shows both him and his plan are cratering.

the second thing you cite to is a bill basically eliminating the EPA

No - it is a bill to reduce the EPA to a less stupid level. EPA regulation of Co2 is not something the people voted for. It was rammed through by legislative fiat by Obama as a means of stifling energy production and imposing regulations on businesses which (in turn) hurt jobs. Obama's administration is rife with such bullcrap. He bans drilling in the Gulf which COSTS jobs. He blocks the Canada pipeline - which COSTS jobs. He blocks Ohio natural gas drilling - which COSTS jobs. Meanwhile he is literally dumping billions into failed projects like Fisker, Solyndra, and others which they KNOW are bad investments and are going bankrupt left and right. The GOP effort to halt that would almost immediately create over a MILLION jobs. The result will be more energy production, which will lower costs and create work. THAT is a job plan. Obama's plan kills jobs and raises energy costs.

Multi-Millionaire Rep. Says He Can’t Afford A Tax Hike

heropsycho says...

I want to repeat first your original claim is the US outproduced the rest of the world many fold from 1700 to 1900, which as I stated is absurdly false.

Percentage of increases is NOT total GDP. Just because we grew more doesn't mean we outproduced another country. Higher GDP = higher production.

Right now, China's economy is growing faster than the US economy. Does that mean their GDP is higher? According to you, apparently, the answer is yes, but it's not. US GDP is higher than China.

Of course, this also doesn't take into account that population impacts GDP, as the larger your population, the more labor resources you have to produce goods and services. GDP per capita also comes into play in factoring relative productivity.

Using your own link, Great Britain's total GDP was higher than the US all the way up to 1913. Therefore, sometime between 1870 and 1913, the US GDP surpassed Britain and every other country on earth in raw amounts, but to claim we did from 1820 - 1913 is by your own data patently false. We outgrew everyone else, this is true, but we did not outproduce everyone else that entire time. In fact, for most of that time, we were outproduced by several Western European countries in raw amounts.

Then there's the question of GDP per capita.

In 1913, US population is estimated to be about 100,000,000. 517,000/100000000=0.00517

In 1913, the British population is estimated to be about 45,000,000. 225000/45000000 = 0.005.

IE, RIGHT ABOUT around 1913 the US began to be more productive per capita than Great Britain, but for most of 1870 to 1913 (and prior), Great Britain outproduced the US per capita. Therefore, your assertion the US outproduced every other country on earth per capita is wrong, and Great Britain outproduced the US in raw amount in 1870.

As I said, most historians do not consider the US an economic superpower until at least WWI. There's ample explanation for this. Great Britain industrialized before the US did. The US also suffered a massive interruption in economic production due to the US Civil War in the 1860s. This is plain as day fact, even with your own data you're providing.

And btw, what were the contributing factors to the US surge in production? Industrialization coupled with massive immigration. To discount the role of immigration into the US as a key contributor and say it was all about free market economics is ridiculous. Are you suggesting we need to allow Mexicans and anyone else to immigrate into the US again?! We also cashed in on imperialist gains at the expense of Mexico, gaining a massive amount of natural resources in the Mexican Cession. You don't honestly think the US Industrial Revolution would have been as wildly successful as it was without that massive resource of various metals, do you? So we're supposed to start taking land from other countries because it's god's will?

And now, to my absolute favorite part of your analysis. You attempted to show the US's slowing economic growth in the 20th century compared to the previous century, because that central banking and regulation we got post 1913 apparently really hurt us.

1820 - 1870 = 50 years
1870 - 1913 = 43 years
1913 - 1950 = 37 years
1950 - 1973 = 23 years
1973 - 1998 = 25 years

So how much did we grow comparing 1870-1913 vs 1950 - 1998, over a comparable time span?

526% vs. (7394598-1455916)/1455916 = 407%

Considering how unproductive humans were before and after industrialization, improving on top of that another 407% is EXTREMELY impressive. On top of that, US economic output was severely reduced because of the Civil War in the 1860s and had not recovered from it by any stretch of the imagination, so simply recovering from that would fuel a massive percentage increase. By 1950, we had already recovered from the Great Depression, and we STILL managed to grow the US economy 4x in the next 50 years.

Now, on top of that, keep in mind that with smaller numbers, percentage growth gets exaggerated compared to bigger numbers. IE, it's easier to double when you start with 1 than 1,000,000.

From 1820 to 1913, US GDP went from 12,548 to 517,383. From 1913 to 1998, we went from 517,383 to 7,394,598! That's less successful?! OH POOR US!

Compared to the rest of the world, we didn't grow as fast percentage wise from 1950-1998. We did however grow the most in raw amounts. By your analysis, Mexico has done a better job growing their economy from 1973 to 1998 than the US did because of percentage growth. Uhh, seriously?! growing 279,302 to 655,910 is more impressive than 3,536,622 to 7,394,598?! Then WHY ARE MEXICANS TRYING TO IMMIGRATE HERE!?

Why is Africa, Asia, etc. growing so much faster than we did? Because they are industrializing, which results in percentage gains greater than the switch to info tech because they're starting from a very low number. That doesn't mean they're outproducing us. It means they have more low hanging fruit to improve their productivity than we do. You're also cherrypicking another historically convenient time. Europe and Asia in 1950 were still recovering from the destruction of WWII, where entire cities were leveled. Simply rebuilding from that would give a massive boost. US industrial capacity was never threatened during WWII. Therefore, we won't start suddenly artificially lower in 1950 compared to a Japan, China, Germany, Britain, France, or Russia.

Your historical analysis is laughable. I have never seen anyone claim that the US economy was better off from 1800-1900 than they have been from 1900-2000. Kudos for attempting to provide statistics for your crackpot retelling of American history.

>> ^marbles:

>> ^heropsycho:
Except you're completely, utterly, 100% wrong about when the US became an economic superpower.
Most historians do not recognize the US as a global economic or military superpower until at least WWI, and it's hard to argue that even then because the US paled in comparison to the likes of Britain until WWII, so your claim we outproduced every other country many times over from 1700-1900 is absurdly and patently false. The 16th Amendment was ratified in 1913 (just prior to WWI), which allowed constitutionally for the first time a federal income tax. The Federal Reserve Bank was also established in 1913, which I guess is what you're referring to as "central banking". The US was undoubtedly recognized as a global Superpower, both economically and militarily, by the end of WWII, some 30+ years later, and it's been one undoubtedly ever since, with the FED and the federal income tax in existence that entire time. During that time, the US has outproduced economically every other country on earth with the dreaded "central bank" and federal income tax you think is destroying our economy.
You might actually want to look stuff up before you say something that grossly incorrect.
>> ^marbles:
>> ^raverman:
... Let me introduce you to the period of history from 1700 - 2000.
Specifically the industrial revolution, the breaking of the class system in the UK, the empowerment of the middle class as both consumers and producers.
...

Look a little bit closer, like 1700-1900, where there was no tax on production (i.e. income tax) and limited periods of economic central planning (i.e. central banking). The US became an economic powerhouse, outperforming the rest of the world many times over.
Imagine that, economic freedom leading to economic prosperity. What a fluke, right?


Don't let facts get in the way of your clouded thinking.
http://www.theworldeconomy.org/MaddisonTables/MaddisontableB-18.pdf
We were the most prosperous country in the world prior to income taxes and the federal reserve.
In 1820, US GDP was less than 2% of the world's GDP. By 1913, US GDP was more than double any other country and 1/5 of the world's. Funny thing about freedom, it works.
From 1820 to 1870, US GDP increased 784% while the world GDP had only increased 59%. From 1870 to 1913, US GDP increased 526% while the world GDP had only increased 246%.
Period, Increase in US GDP, Increase in World GDP
1820 to 1870, 784%, 59%
1870 to 1913, 526%, 246%
1913 to 1950, 281%, 197%
1950 to 1973, 243%, 300%
1973 to 1998, 209%, 210%
And if you do the math per capita, the numbers are even uglier for the US 20th century.
But not surprising one thinks that printing money to pay for bombs and tanks makes a country prosperous. How's that government stimulus working out present day? Funny we still haven't paid off that debt from WWII stimulus. We've being paying the interest on it though.
Did expanding the monetary base (i.e. inflation) make us richer? The father of the theory that government stimulus is the way to fight severe downturns, John Maynard Keynes, famously said about inflation:
By this means government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft.

Ayn Coulter backs Ron Paul for 2012

DerHasisttot says...

I study this stuff. It's strange that Mericans have this romanticised view of their Constitution, Bill o rights, Puritans and the founding fathers, but the humans were just human, and the documents were just documents: Imperfect. Not holy writs and prophets. The USA did not get rich and prosperous on its founding father's ideals, but the backs of slave labour, massive natural resources and comparatively few wars at the beginning.

To think that "As one of Jefferson’s favorite books, Gibbon’s ‘Decline and Fall of the Roman Empire,’ so luminously argued, there is no surer sign of a country’s cultural and political decay than obtuse blindness to its unmistakable beginnings" means one should look at the beginnings and say: "Wow everything was awesome then!" is romanticising history. All that stuff I mentioned above which you ironically called 'obtuse blindness' is deeply ingrained not only in the US' history but also the constitution and the Bill of Rights.

I have read both documents, unfinished drafts, rewritings, documents about the discussions and much more such tedious stuff: It's all deeply political, partisan even then and not! perfection. I know that it's much easier to think that libertarianism is the goto-solution for everything, but it isn't. Nothing is.

Libyan Rebels take control of Tripoli's Green Square

ghark says...

>> ^bcglorf:

So firstly in terms of Iraq, rather than get subjective let's examine some of the facts:
Iraq's infant mortality rates are currently the highest amongst Arab countries
Iraq's life expectancy has declined (by about 7 years) since the US invasion and is the lowest amongst Arab countries.
Iraq has the second lowest purchasing power of any country in the region, only Yemen is worse,
Child malnutrition has stayed pretty similar, while education has improved.
70% of Iraq's GDP now comes from oil, it's industry and farming sectors have pretty much been destroyed.

You do realize all your comparisons there take their Saddam-era equivalents on faith from Saddam's regime, right? Life expectancy calculated in Saddam-era Iraq as an example excluded the hundreds of thousands of Kurds and Shia that were murdered, starved or killed, seeing as those creatures were barely human, let alone Iraqi.
So as horrific as Saddam's reign of terror was, it was because of America that he was allowed to be in power in the first place, and even then things were better than they are now by many measures.
Stop trying to make everything about America. America this and America that...
I've not lived my life in a hole, and am well aware of America's past support for Saddam. I don't recall saying much of anything about America though. I just pointed out how horrific Saddam was, and Iraq is better for him being gone, whether his removal came at the hands of America or the Easter bunny was besides the point.
And as stated above, there are no objective measures of Saddam-era Iraq's living conditions. There is only the official Saddam government line, and the stories of it's victims. The documented facts that we do have are mass-graves, concentration camps, a campaign to exterminate and breed the Kurd's out of existence through mass murder and systematic rape. We have the same campaign waged against Iraq's Shia, witnessed first hand by everyone involved in the 1st Gulf War as America committed perhaps it's greatest sin in Iraq and stood idly by and watched Saddam's gunships murder the Iraqi Shia populations by the tens of thousands(many estimates top 100's of thousands).
In terms of Gaddafi, you're arguing into the wind, I've never said I thought he was the better option, I'm simply saying that going by the atrocities committed by or for America in recent decades (in Chile, Vietnam, Iraq, Palestine to name a few countries), they are the last country that should be getting involved in any sort of democratization process. All that is assured by this 'victory' is that Libya's natural resources will be plundered, some rich elite will make a killing, the masses will suffer and the new leadership will be just as corrupt as the last.
Again, what's with your obsession with America? I declared it good that Gaddafi is gone. Your the one who complain about how it really wasn't because evil America was involved.
Lastly, if you're so convinced that America is in Libya to save lives
Again, I never said that. I pointed out that the UN mandate authorized the use of force to save Libyan lives. I pointed out that NATO's forces did exactly that, since without them Gaddafi was guaranteed to have succeeded in his genocide within 24 hours. What I did NOT say was that saving those lives was America or NATO's motivation. There are plenty of other places NATO could go save lives(particularly Sudan and Somalia) if that was their motivation, but it isn't. NATO, like every other global entity, is motivated by it's own self-interest. In Libya, removing Gaddafi was in NATO's interests, and seeing the Libyan opposition succeed was in NATO's interests.
Here's the bit you miss in the above piece. The Libyan civilians are no less dead because NATO stopped a genocide out of selfish interest versus out of humanitarian desires. What matters is that they are alive today, and that Gaddafi's ability to met out revenge against them has been destroyed. They are safe, and they are free. What they do with it, and how the rest of the world plays into that is yet to be seen. I won't disagree that every nation, America included, will play the new Libyan leadership to their own best advantages and interests. However, neither will I stand quietly by as ignorant people complain about Gaddafi's overthrow being meaningless because of that. The Libyan people HAVE seen a great victory here for their own freedoms, even if it's uncertain how long lived that victory may be.


I'm picturing an infomercial right about now. Buy our world class American installed dictator right now and you'll receive many happy decades of watching your wife get raped, your lawn regularly razed, and your children going without food or education. But wait! There's more! In thirty of forty years (basically whenever we feel like it) we'll send in an army and take your lawn for ourselves so you don't have to worry about the dictator razing it any more!!!! Special discounts apply if you order before Libya.

1. America put Saddam in power, his atrocities are in large part America's fault
2. America has enabled many other dictators around the world, it's what they do when a leader doesn't follow their wishes
3. Knowing full well what outcomes these dictatorships have had (as intended) in the past, how do you know we wont get similar results this time?

We're talking about a country here, it has people that want different things, of course some Libyans are going to be happy that Gaddafi is removed, many will have wanted other outcomes, neither of us can speak for them, we are not Libyan. You say a few people dieing/getting bombed is ok to save a possible genocide. Would you kill your family to save your village? The people dieing in Libya are someones family, they are real, just because you aren't Libyan doesn't mean you can't feel empathy for them. Wake up man, you and your country are not the center of the world, you can't force your will on others unfairly without at least some repercussions. Your day is coming, and it's coming faster than you might think.



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