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There’s a lot of actions that’s not just “confiscating their wealth”. For example, requiring employers over a certain revenue to have a workers council, and a

There’s a lot of actions that’s not just “confiscating their wealth”. For example, requiring employers over a certain revenue to have a workers council, and a seat at the board. Creating stronger union protections. Not weakening them. Requiring sick pay, paid time off, etc etc. Limiting the abuse of using contract workers to avoid doing benefits.

WalterBright 3y ago
Other countries do that, which is why they have anemic economies compared to the US.
- aaomidi 3y ago
  While doing better on nearly every other social aspect. Also, the U.S. economy can’t be compared with anywhere else because we are the reserve currency. The control we have over our economy is literally not possible anywhere else. When we didn’t have this control, our economic policies led to the great fucking depression.
  - WalterBright 3y ago
    > our economic policies led to the great fucking depression That policy was, specifically, tying the exchange rate of the dollar to gold while inflating the hell out of the dollar - Fed policy enacted in the 1914 Federal Reserve Act. This disconnect between the dollar's value and gold's value eventually caused a run on the banks which collapsed them, as you could buy gold for half price. The depression did not start to recover until the government halted gold purchases. > While doing better on nearly every other social aspect. Debatable. I've lived in foreign countries.
- andrepd 3y ago
  Tens of millions of people in the US live in such a devastating level poverty which is virtually unheard of in Western Europe or Japan. Social mobility is weaker in the "land of opportunity" than in Europe, indicating that your wealth and income as an adult is highly correlated on your parent's wealth and income (so much for the meritocratic fairytale). I'll take optimising for well-being (with a "strong economy" as a mere tool for that, not an end in itself) over "muh gdp" any day now.
  - WalterBright 3y ago
    > devastating level poverty It is not a "devastating" level of poverty. The US is not a 3rd world country and the 3rd world poor are desperately trying to get into the US, literally by the millions. The US poverty rate stopped declining in 1968 when the government began subsidizing it.

WalterBright 3y ago

Other countries do that, which is why they have anemic economies compared to the US.

aaomidi 3y ago
While doing better on nearly every other social aspect. Also, the U.S. economy can’t be compared with anywhere else because we are the reserve currency. The control we have over our economy is literally not possible anywhere else. When we didn’t have this control, our economic policies led to the great fucking depression.
- WalterBright 3y ago
  > our economic policies led to the great fucking depression That policy was, specifically, tying the exchange rate of the dollar to gold while inflating the hell out of the dollar - Fed policy enacted in the 1914 Federal Reserve Act. This disconnect between the dollar's value and gold's value eventually caused a run on the banks which collapsed them, as you could buy gold for half price. The depression did not start to recover until the government halted gold purchases. > While doing better on nearly every other social aspect. Debatable. I've lived in foreign countries.
andrepd 3y ago
Tens of millions of people in the US live in such a devastating level poverty which is virtually unheard of in Western Europe or Japan. Social mobility is weaker in the "land of opportunity" than in Europe, indicating that your wealth and income as an adult is highly correlated on your parent's wealth and income (so much for the meritocratic fairytale). I'll take optimising for well-being (with a "strong economy" as a mere tool for that, not an end in itself) over "muh gdp" any day now.
- WalterBright 3y ago
  > devastating level poverty It is not a "devastating" level of poverty. The US is not a 3rd world country and the 3rd world poor are desperately trying to get into the US, literally by the millions. The US poverty rate stopped declining in 1968 when the government began subsidizing it.