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Very Hot Topic (More than 25 Replies) Wealth inequality (Read 3552 times)
SkyChief
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Re: Wealth inequality
Reply #10 - Sep 23rd, 2014 at 10:31pm
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freeforall wrote on Sep 22nd, 2014 at 12:03pm:
(snip)
This may be occurring with Costco and Walmart where the former values employee compensation over stockholder dividends whereas the latter corporation values the opposite or so is my understanding.  I prefer, as do many others,  to shop at Costco as a result.  Time will tell if more and more consumers will follow.


What leads you to believe these criteria are a factor with other Costco shoppers?   At the stores I go to, the shoppers/consumers couldnt care less about stockholder dividends and employee compensations. They just want quality merchandise at low prices.  Maybe we live in different parts of the country.

Im not disparaging your consumer ethics, just doubtful that others are as conscientious as you.
  
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freeforall
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Re: Wealth inequality
Reply #11 - Sep 24th, 2014 at 7:56am
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Well I'm encouraging you to shop there as well if you have a choice.
  

Give me my freedom for as long as I please.  All I ask of living is to have no chains on me. - Blood, Sweat & Tears
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Jeff
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Re: Wealth inequality
Reply #12 - Sep 24th, 2014 at 8:58am
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Crystallas wrote on Sep 22nd, 2014 at 2:08pm:
The amount of jobs as a metric does not determine prosperity. The level of entry, however, does.

But this is a long Chicago School vs Austrian School argument.

So if half the potential labor force can't find a job, it has nothing to do with prosperity?
What do you mean by "level of entry"?
I don't think the Chicago School and the Austrians have much disagreement about this issue, though both disagree strongly with Keynes.
  

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stevea
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Re: Wealth inequality
Reply #13 - Sep 25th, 2014 at 2:49am
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Interesting and relevant paper.  Well worth a read IMO.
http://www.aspeninstitute.org/sites/default/files/content/docs/OKUN_EQUALITY_AND...

  
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Jeff
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Re: Wealth inequality
Reply #14 - Sep 25th, 2014 at 8:08am
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stevea wrote on Sep 25th, 2014 at 2:49am:
Interesting and relevant paper.  Well worth a read IMO.
http://www.aspeninstitute.org/sites/default/files/content/docs/OKUN_EQUALITY_AND...


A typical 'progressive' viewpoint. His conclusion? That the U.S. can eliminate poverty through government redistribution of wealth.
  

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The Opposition
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Re: Wealth inequality
Reply #15 - Sep 28th, 2014 at 2:52pm
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freeforall wrote on Sep 21st, 2014 at 1:13pm:
With no government protection of the wealthiest, the 'proletariat' won't stand for such inequality when many of them have trouble paying their bills (despite being responsible hard workers) and will frequent businesses where the executives have taken publicly verifiable oaths to limit their compensation.


Alan Jones wrote on Sep 21st, 2014 at 2:08pm:
That's not true of the "proletariat" in general. It would only be true for the economically illiterate socialist drones.


I suppose the idea that people should engage in behaviour that helps themselves is illiterate socialist nonsense whenever anyone other than a rich businessman does it.

Why shouldn't workers do this? If they all do, they're all better off. I'd drink to that. I mean, if I'm going to pay $5 for a T-shirt from Bob's company where the top executive gets a multibillion dollar salary, or $5 for a T-shirt from Bill's company where the top guy gets less and the workers get more, I'll choose to give my money to Bill and his workers.

That's my choice, and I'm going to (gasp - capitalism!) make the one that benefits me if universalised. I'm never going to be a top executive, and I sell my labour more often than not, so I will favour those in my group, and others will do the same.
  

This moral relativism of yours is exactly what lets government take this freedom, then that freedom, until we have lost them all.
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Alan Jones
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Re: Wealth inequality
Reply #16 - Sep 29th, 2014 at 6:54am
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The Opposition wrote on Sep 28th, 2014 at 2:52pm:
I suppose the idea that people should engage in behaviour that helps themselves is illiterate socialist nonsense whenever anyone other than a rich businessman does it.

You suppose wrongly. The exact opposite is true. Failure to engage in self-benefiting behavior is illiterate socialist nonsense.

The Opposition wrote on Sep 28th, 2014 at 2:52pm:
Why shouldn't workers do this?

You tell me. As far as I'm concerned, they should.

Haven't you been around here long enough to stop trying to make the same faulty associations socialists make about us in their propaganda to mislead people? You know no libertarian here has suggested that a worker shouldn't engage in self-beneficial acts. And you know we've all said the exact opposite.
« Last Edit: Sep 29th, 2014 at 6:47pm by Alan Jones »  
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zevrem
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Re: Wealth inequality
Reply #17 - Sep 29th, 2014 at 10:25pm
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Wealth inequality is maintained primarily by the institution of investing. There's nothing wrong with that by itself, but in a fiat money system, the institution of investing gets subsidized to the tune of hundreds of billions of dollars a year, trillions if you count bailouts. The fact that Wall Street had to be saved by the government, that its welfare payout utterly dwarfed that of any other group of people anywhere, means that government is the primary cause of wealth inequality.

If we look at the example of Bitcoin, yes, there was obviously a small group of 100 or so early adopters, but over time, wealth inequality has only lessened with the rise in prices. And with the growing usage of BTC for utilitarian purchases, this inequality has only lessened with time. That is a very good long-term trend that fiat currency does not have.
  
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Jeff
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Re: Wealth inequality
Reply #18 - Sep 30th, 2014 at 4:10pm
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zevrem wrote on Sep 29th, 2014 at 10:25pm:
Wealth inequality is maintained primarily by the institution of investing.

Wealth inequality can only be maintained by government.
No free market, no relatively free market, acts in any way to maintain wealth inequality.
When wealth and government power are combined, wealth inequality is maintained.
  

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jzk
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Re: Wealth inequality
Reply #19 - Oct 10th, 2015 at 2:59pm
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Sure it does.  The free market rewards those that are able to bring products and services to the market efficiently.  Some will be better at this than others, and they will reap the rewards.  The better question is: so what?  So what if my neighbor makes ten times as much as me as long as I make more than I would otherwise have been able?

Jeff wrote on Sep 30th, 2014 at 4:10pm:
Wealth inequality can only be maintained by government.
No free market, no relatively free market, acts in any way to maintain wealth inequality.
When wealth and government power are combined, wealth inequality is maintained.

  
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