5 ms·

Progressive Capitalism Is Not an Oxymoron

25 points by FailMore 7y ago

spammersharass 7y ago
For the 1001th time, inequality is not by default a negative or positive thing. If it's the result of freedom and the market, then it is a _good_ thing. A rising tide, raises all boats.
- blueboo 7y ago
  And the tide comes in and out every day Meanwhile in the non-facile analogized real world, real wages haven’t budged in 40 years https://www.epi.org/publication/understanding-the-historic-divergence-between-productivity-and-a-typical-workers-pay-why-it-matters-and-why-its-real/ https://www.epi.org/publication/understanding-the-historic-d...
  - CompelTechnic 7y ago
    Both real median wages and real median per capita income are growing. Part of the rise of income is the fact that people are working more hours than they used to. https://www.advisorperspectives.com/dshort/updates/2018/10/16/u-s-household-incomes-a-51-year-perspective https://www.advisorperspectives.com/dshort/updates/2018/10/1... https://fred.stlouisfed.org/series/LES1252881600Q https://fred.stlouisfed.org/series/LES1252881600Q Some of the data used by your source uses the year 2000 as a baseline. This was a highwater mark and feels like cherry-picking (caveat: it is a nice round number). This narrative was especially strong during the great recession, but it is not strong today.
    - blueboo 7y ago
      Yikes. Up 10% over 40 years!!... quite the antidote to my so-called cherry-picking.
pizzazzaro 7y ago
Freedom is just another lie when you can't afford it. Sure, the marketplace provides choices - all with the same coverage in a race to the bottom, by nearly a half-dozen "health" insurance banks. Burn down the Milton Friedman, Chicago-Boys church of economics. That dogma doesnt serve anyone but banks and oil companies that refuse to grow with the market. It only pretends to be a science, a school, rationalizing the effort to encourage the worst of human behaviour. The only argument left is about whether Keynes or Marx applies better in this perspective. And I usually lean towards Kropotkin.
- johnisgood 7y ago
  You left out Austrian economics. https://mises.org/wire/difference-between-austrians-and-everyone-else-—-one-easy-chart https://mises.org/wire/difference-between-austrians-and-ever... https://mises.org/wire/austrian-economics-vs-keynesian-economics-one-simple-chart https://mises.org/wire/austrian-economics-vs-keynesian-econo...
  - pizzazzaro 7y ago
    Correct me if I'm wrong, but isnt the Austrian School just an older variant on the Laissez-Faire failure?

25 points by FailMore 7y ago

For the 1001th time, inequality is not by default a negative or positive thing. If it's the result of freedom and the market, then it is a _good_ thing. A rising tide, raises all boats.

blueboo 7y ago
And the tide comes in and out every day Meanwhile in the non-facile analogized real world, real wages haven’t budged in 40 years https://www.epi.org/publication/understanding-the-historic-divergence-between-productivity-and-a-typical-workers-pay-why-it-matters-and-why-its-real/ https://www.epi.org/publication/understanding-the-historic-d...
- CompelTechnic 7y ago
  Both real median wages and real median per capita income are growing. Part of the rise of income is the fact that people are working more hours than they used to. https://www.advisorperspectives.com/dshort/updates/2018/10/16/u-s-household-incomes-a-51-year-perspective https://www.advisorperspectives.com/dshort/updates/2018/10/1... https://fred.stlouisfed.org/series/LES1252881600Q https://fred.stlouisfed.org/series/LES1252881600Q Some of the data used by your source uses the year 2000 as a baseline. This was a highwater mark and feels like cherry-picking (caveat: it is a nice round number). This narrative was especially strong during the great recession, but it is not strong today.
  - blueboo 7y ago
    Yikes. Up 10% over 40 years!!... quite the antidote to my so-called cherry-picking.

pizzazzaro 7y ago

Freedom is just another lie when you can't afford it. Sure, the marketplace provides choices - all with the same coverage in a race to the bottom, by nearly a half-dozen "health" insurance banks. Burn down the Milton Friedman, Chicago-Boys church of economics. That dogma doesnt serve anyone but banks and oil companies that refuse to grow with the market. It only pretends to be a science, a school, rationalizing the effort to encourage the worst of human behaviour. The only argument left is about whether Keynes or Marx applies better in this perspective. And I usually lean towards Kropotkin.

johnisgood 7y ago
You left out Austrian economics. https://mises.org/wire/difference-between-austrians-and-everyone-else-—-one-easy-chart https://mises.org/wire/difference-between-austrians-and-ever... https://mises.org/wire/austrian-economics-vs-keynesian-economics-one-simple-chart https://mises.org/wire/austrian-economics-vs-keynesian-econo...
- pizzazzaro 7y ago
  Correct me if I'm wrong, but isnt the Austrian School just an older variant on the Laissez-Faire failure?