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I recently read Capital in the Twenty-First Century by Thomas Piketty - In the book Piketty suggests that the return on capital is now so much higher than the return on labor that traditional income taxes would not be very effective for increasing the tax contributions of the extremely wealthy. Let me know if I'm off-base here, but wouldn't a 90% top income tax bracket just hit a small number of very high earning professionals like doctors, lawyers, etc.?
> I was interested about this too so I looked it up and was surprised at how lacking the research was.
Consider checking out Invisible Women, a great book discussing this topic in depth.
It also happens to mention that Viagra may be effective at treating period cramps.
People, if you haven't read Bill Browder's <em>Red Notice</em>, it's high time you do. This lead to the Magnitsky Act, which is one of the biggest things that Putin and Russia's oligarchs want removed.
If you think that any US citizen that Russia wants to "question" will come back the same person (or come back at all), you're deluding yourselves. Russia has repeatedly tried to get Browder arrested and sent to Russia using fraudulent Red Notices, which Interpol have repeatedly refused to honor because they're so obviously corrupt.
Russia wants Browder, and they'll use any means to get him. Sending Americans over to be "questions" gives the sham of an "investigation" they're running legitimacy.
Don't let them succeed.
Confessions of an Economic Hitman goes into great detail about the Bechtel Corporation. Very well written story about a guy who was unwarily caught up in instituting U.S. interests abroad.
Correct. Read Piketty's book Capital in the 21st century.
The market if left to its own devices, will over time, bring us all back to feudalism. As ever larger shares of wealth travel in ever fewer amount of hands. Someone eventually wins the Monopoly game.
I don't disagree that Piketey has probably got it right, that if we don't make it our business as regular people to transition into interest bearing stuff, by way of the market, we have trouble.
The real concern is that Boomers, most definitely did "break" America by way of acceding to the notion that they could have "everything" without having to work for it, the notion of "pay it later" or "leave it for the kids" is EXACTLY what became respectable during the 1980's.
It turned the United States from an aspirant republic capable or generating wealth by way of fostering upward mobility, and through decades of disinvestment in schools, healthcare and infrastructure, to say nothing of militarizing the civic services, we ended up in short order, in an Ayn Rand inspired dystopia, where the engineers and "smart people" all were told to work 80 hours a week and do well, the "moochers" did FAR worse, and at the end of the day the "best and brightest" got the shaft, at some raw outsourcing deal.
So while there are winners in our society, the Mark Z's, and Eric Princes of our society, they were going to do just fine whether fortune smiled heavily or lightly upon them, that they just make it clear, that in fact we've become a casino / winner take all type economy.
It's a massive regression, so instead of public services and intentionally socializing major industrial/economic benefit projects, we wait on the hopeful benevolent patronage of some hyperwealthy person who can personally fund moon-launches, mars colonies. One wonders if they don't name the first colony Galt's Gulch.
What's screwed up is to see the boomers vigorously fuck over their own children and grandchildren so they don't have to think too much about any sort of responsibility or cost to themselves.
The 'me' generation all the way.
Also worth checking out his book: Red Notice. I listened to the audiobook and it was short but really entertaining and informative about all the shit that goes down in Russia
This is pretty much exactly what Caroline Criado-Perez says in her recent book "Invisible Women: Exposing Data Bias in a World Designed for Men".
It's good to see that the awareness of this is spreading.
I don't know if this will help, but I just finished reading Invisible Women. It is an excellent read and it's absolutely appalling and infuriating to see all the places where women are just...not considered, and what the fallout of that is on a societal level. I don't think the word "feminism" occurs in the book, but it is very much a strong feminist statement with an absolute shitload of data to back it up.
Or just throw the whole boyfriend out, up to you.
Honestly, HK was the moment it became clear that Maxwell was the John Perkins of Bitcoin. "Confessions of an Economic Hitman" is a must read to understand the hijacking of Bitcoin. It took only one guy on the inside of Chas T. Main engineering to put countries billions in debt. To put Bitcoin in the hands of the banks it took only one neckbeard rat willing to sell out.
Signing the HK agreement ~~proves~~ strongly suggests that u/adam3us and u/luke-jr were out of the loop.
Yes, everyone should pick up Browder's book, crazy crazy story
https://www.amazon.com/Red-Notice-Finance-Murder-Justice/dp/1476755744
I'm not apologizing for him. His acceptance of Palin is a crucial step to why we are here now. I'm pointing out that of everyone in recent American politics, he's one of a significant few that did the literally one thing that has significantly angered putin. Read Red Notice [1], its insane the lengths Putin went to to punish Browder for unveiling his criminal antics and McCain was one of only a few that stood behind him (Browder).
You saying he's been completely asleep against Russian agents trying to take advantage of us is wrong by dint of this. However, Your underlying sentiment that he's not doing enough though isn't wrong. But we just have to be careful that we don't become so desirous of seeing things in black and white that we take on the stupider and purposefully ignorant aspects of the dumb right.
We should be able to see in nuance. We should still condemn but we shouldn't need to speak in grandiose terms of evil to make our point. The point is makeable while still being cognizant and not dismissive of the facts. The only people that need to bend facts and timebox peoples actions are people who don't have enough of truth on their side to make their point. We're not that and we don't need to be that to make the point that Republicans needed and need to do more.
[1] Red Notice: A True Story of High Finance, Murder, and One Man's Fight for Justice https://www.amazon.com/dp/1476755744/ref=cm_sw_r_cp_api_i_IT.gBbEKYT9ZY
I highly recommend Bill Browder's book, aptly named Red Notice: https://www.amazon.com/Red-Notice-Finance-Murder-Justice/dp/1476755744/
It goes into great detail about his background, his investments in Russia and subsequent uncovering of widespread corruption, what happened to Sergei Magnitsky, and the process of getting the Magnitsky Act passed with the assistance of John McCain.
A thrilling, inspiring, sad and infuriating read.
I think you will be surprised to learn that what you have come to understand about neoliberalism and the positions supported by this sub are not always in alignment.
Make sure to read <em>Why Nations Fail</em>. Your first book report is due in two weeks.
> The crisis in VZ is a product of lack of diversification and an over reliance on the oil economy to fund social programs.
This is simply nonsense. The crisis in VZ is a product of:
- Price and currency controls
- Corruption and mismanagement in nationalized industries
> how does participation [this] make VZ an example of socialism?
It makes it a perfect example of everything Hayek predicted would result from central/collectivist economies. That the whole thing devolves into starvation and oppression is no head-scratcher. It's right on script.
https://www.amazon.com/Invisible-Women-Data-World-Designed/dp/1419729071
Also worth googling is women’s second shift. It focuses on how labor isn’t divided equally in a marriage. Women take on not only more chores, but daily chores (dinner, cleaning, child care), while men tend to take weekly chores (mowing the lawn, taking out the trash). Not to mention they wind up maintaining their husband and children’s social calendar in addition to their own. Career wise, women are in danger of losing their careers and not doing well in interviews when they reveal to be engaged/married. Men get pay boosts when engaged married. Women are expected to abandon/sacrifice their careers for their family while men aren’t. The list goes on. But that book and that term second shift are a great place to start
Why change subjects? Can you point to concrete examples of so called Chinese "debt traps"? I can point to an entire book full of real examples of Western economic imperialism http://www.amazon.com/Confessions-Economic-Hit-John-Perkins/dp/0452287081/
China's so-called Chinese human rights abuses are orders of magnitude less than America, but I don't hear you crying about America's human rights abuses that include an invasion of Iraq that killed about a million people, destroyed Libya, destroyed Syria, extreme police brutality/police state, global drone assassination programs, etc. Go ahead, prove me wrong.
Every facial recognition system to date has ran into the latter problem, some to extreme degrees. It is not rare by any stretch whatsoever.
The first is not rare, either.
https://www.amazon.com/Invisible-Women-Data-World-Designed/dp/1419729071
Probably a good time to read The Road to Serfdom, or at least to flick through the brief illustrated version.
that link's a great summary. the issue of most studies being done on young, white, male college students is a massive one that the general public, most of whom have taken a prescription, know nothing about. women are just considered 'smaller men' to their detriment. children are, too. the issue for pregnant women is even worse; they're told to go off all drugs/supplements not because we know those things are bad, but because we know nothing at all. absence of evidence is not evidence.
there's a book i consider a must-read for everyone, about how everything in the world is made for men because they're considered the default human. it's Invisible Women: Data Bias in a World Designed for Men by Caroline Crialdo-Perez. https://www.amazon.com/Invisible-Women-Data-World-Designed/dp/1419729071
Bill Browder's Red Notice is a great look into the world of how Russia in general is Cronyism/Oligarchy to the extreme. His experiences led to the Magnitsky Act in an attempt to counter some of this corruption on the world stage.
And what about people who dislike her for the lies and economic ignorance she spreads? It never ceases to amaze me that people actually believe that her ideas are feasible. I can just say that X should be free too; that doesn’t magically render X immune to scarcity. Do yourself a favor: read this fantastic book on economics and start being part of the solution instead of the lunacy.
You only need the part after "dp". Check this out:
Will take you to the same page as:
https://www.amazon.com/dp/0307719227/
Good URL hygiene is important!
It appears there was a newer version that came out in 2016 with 15 more chapters. 🤷♀️
https://www.amazon.com/New-Confessions-Economic-Hit-Man/dp/1626566747
I don't get your fixation on the raw number of shares someone holds it should be on the amount of money the have in it. If you have 100k worth of a company A with 10 shares and 100k worth of company B with 5 shares and they both pay a dividend of 10% you'll still get paid 10k from both companies regardless of the amount of shares you have.
I will agree though as I have numerous times throughout this thread that wealth inequality is a problem and I would 100% not want money being concentrated in the higher parts of society.
Yes I agree 10000% that the fed's lowered interest rates which have allowed for the growth of capital/assets to be higher than the growth in the economy leads to worsening wealth inequality, which Thomas Piketty extremely thoroughly discusses in his book Capital.
What I've been trying to get at (although badly, sorry slow day) is that given the circumstances that we've been dealt, and with the knowledge that the Fed's actions do help the economy recover and lessen the effects from a recession, and "as long as we don’t see inflation on the consumer side" during the Fed's efforts I dont see a problem with the lowered rates.
The main problem is how long it took the economy to recover and the length at which the fed kept it's policies in place, which I why I stated that I hope we start to see a continuation of the precovid labor market as well as large gains with wages so that the Fed can start to ease off its easy credit policies fast and asset prices can drop/stabilize.
I recommend <em>Capital in the 21st Century</em>. It's an extensive study of income, economy growth, capital, and how it all relates to the rising rates of inequality in the world. It finishes with tentative policy recommendations for governments to look into to counteract the inevitable market trends.
It's written by an economist, so it is kind of number heavy, but I think it's worth getting through.
Not to make this political. But everyone should care. Global inequality is at all time highs.
We can feed and clothe the poor many times over and we choose not to. We destroy the environment and pollute our bodies in the name of economic growth. It ultimately leads to civil unrest, which we are experiencing now, because people can’t get by working full time jobs. They can’t afford health care. They can’t provide for their families. The middle class is disappearing and being replaced by what amounts to modern day slaves.
Capital in the Twenty First Century is on my reading list and covers some of these topics.
Acabas de recitar como perico los tipicos cliches del caracter del Mexicano, que no explican la situacion socioeconomica del pais. El Libro Bad Samaritans rescata testimonios historicos de un comerciante australiano recitando las mismas quejas y topicos de algunas sociedades atrasadas... Japon y Alemania hace 100 años.
Por cierto, se te cae un poquito la ideologia. Digo, tus ejemplos resultan un poco parciales. Pero bueno, solo por dar una explicacion alterna a tu otro comentario: La queda de "los ricos deben pagar impuestos" mas que realcionarse con la "envidia", es una observacion mas relacionada a la realidad de que la productividad de las empresas y las ganancias siguen subiendo (con el famosisimo PIB), sin embargo los salarios medios en Mexico estan estancados y la recaudacion que sostiene los servicios sociales no crece al mismo ritmo gracias a los agujeros fiscales que se aprovechan algunas empresas e individuos, es decir un llamado a mantener la proporcionalidad de los impuestos (un mandato que incluso recoje la constitucion).
Oh yeah, that’s what keeps happening. If you ever want to get a good overview of how everything works, I recommend this book. It’s not too long and speaks in plain language. No charts or equations needed.