Let the Good Times Roll! Or, Tonight We're Gonna Party Like It's 1929

[Kuciwalker]

Don't the more heavily-regulated parts of Europe have lower economic growth, though?

Ultimately I don't think the variation between Europe and the U.S. is terribly significant. It certainly doesn't support anything Vanguard's saying.

[Rufus T. Firefly]

By no means am I backing Vanguard; I was quibbling with LordShiva's wacky assertion.

As for the variation between the US and Europe, it doesn't vary much by type but varies significantly by degree. Taxation rates would be exhibit A.

[Lawrence of Arabia]

we arnt comparing 19th century america with 20th century america, we are comparing latin american countries (poor and broke) with developped countries.

income inequalities are higher in those poor countries than in the US. and not only that, while poor americans live paycheck to paycheck in an appartment, with nice roads, police, latin americans live in shantytowns with corrupt police, not roads, disease, drug trafficers who hold them hostage etc.

it follows that developped countries have thus lower income inequalities than poor countries.

[Vanguard]

Okay, here's where you guys are going wrong. You are assuming that someone getting rich due to invention or hard work increases income inequality.

But this is exactly the opposite of what happens. Let's consider this exchange from earlier in the thread:

Kuciwalker said:
If KH invents a nuclear fusion reactor that provides cheap, environmentally friendly electricity, and becomes a multibillionaire off of it, am I worse off?


I replied:
No. But that's because his invention of such a reactor would be unlikely to decrease your share of the economy. Instead it would decrease the share of sheiks and people who own other power plants.

They would be worse off.

The fact that KH becomes rich by inventing cheap nuclear fusion would not increase income inequality. It would almost certainly decrease it, by making oil sheiks and owners of other power plants poorer.

KH's wealth does not decrease your share of the economy, it increases it, because you pay KH less than those other guys.

Get it now?

[Kuciwalker]

Except for all the lowly workers at those oil power plants. And what if I invent a robot than can do all manual labor (including its own self-assembly). Mankind would be infinitely better off, yet that would replace almost all low-paying jobs.

[Dinner]

Originally posted by Kuciwalker
Except for all the lowly workers at those oil power plants. And what if I invent a robot than can do all manual labor (including its own self-assembly). Mankind would be infinitely better off, yet that would replace almost all low-paying jobs.

Gains in efficiency.

[pchang]

Right up until

Originally posted by Oerdin


Gains in efficiency.

the toasters turn on us and nuke us into oblivion












wrong thread?

[Kidlicious]

Originally posted by Vanguard
Okay, here's where you guys are going wrong. You are assuming that someone getting rich due to invention or hard work increases income inequality.

But this is exactly the opposite of what happens. Let's consider this exchange from earlier in the thread:




The fact that KH becomes rich by inventing cheap nuclear fusion would not increase income inequality. It would almost certainly decrease it, by making oil sheiks and owners of other power plants poorer.

KH's wealth does not decrease your share of the economy, it increases it, because you pay KH less than those other guys.

Get it now?

The sheiks are just going to buy the technology and get even richer.

[Lawrence of Arabia]

you can't 'buy' the technology - just as there are many cell phone providers, no one person owns it. the first guy invented it, and then there were knowledge leaks and that leads to perfect competition.

[pchang]

And many

Originally posted by Lawrence of Arabia
you can't 'buy' the technology - just as there are many cell phone providers, no one person owns it. the first guy invented it, and then there were knowledge leaks and that leads to perfect competition.

patent infringement suits followed....

[Lawrence of Arabia]

really? so theres only one compay in america who has to right to produce electricty? only one company allowed to produce mp3 players? only one company allowed to own coal powerplants?

[Kidlicious]

Originally posted by Lawrence of Arabia
you can't 'buy' the technology - just as there are many cell phone providers, no one person owns it. the first guy invented it, and then there were knowledge leaks and that leads to perfect competition.

Another very strange statement.

[Lawrence of Arabia]

because this one would make more sense: labor is the only creator of wealth.

[Kidlicious]

Originally posted by Lawrence of Arabia
because this one would make more sense: labor is the only creator of wealth.

[Spiffor]

Originally posted by Kidicious