Saturday, December 30, 2017
David F. Ruccio — It’s the profits, stupid!
I would phrase it somewhat differently: "It's the distribution, stupid."
The social and political problems arise from grossly asymmetrical distribution and the ensuing distributional effects economically through highly asymmetrical income and wealth.
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It’s the profits, stupid!
David F. Ruccio | Professor of Economics, University of Notre Dame
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4 comments:
Population grew by 1.1% and wealthy individuals grew by 8.2% last year worldwide.
In the US, the statistics were more grim as quack orthodox economists with slo-growth economic ideology were running the joint. As expected their policies produced years of stagnation, economic growth slower than population and inflation while squeezing population to enrich the wealthy.
Reportedly a populist was elected President, who promised higher rates of growth and high population employment ratios.
We'll have to see how that goes.
"quack orthodox economists with slo-growth economic ideology were running the joint."
Yup.....
Growth isn't all it's cracked up to be.
Native peoples around the globe consider someone who takes more than their fair share to be mentally ill and a threat to the survival of the tribe. Doctors refer to unrestrained growth as cancer.
“Native peoples around the globe”
Oh yeah there is a great example....
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