Economics has met the enemy, and it is economics

[Kuciwalker]

The distortion here is in the fact that dividends are harshly double-taxed.

[DaShi]

You know what? **** economics. I'm developing my own system of allocating resources that uses no past, present, or future economic theory.

[Jon Miller]

That is necessary for a working society. Concentration of wealth has severe negative consequences. Including economical ones. This has been demonstrated historically. Ignoring this:

The distortion that is causing problems for society right now is increased volatility. This not only leads to painful downturns like the last 3 years, but also facilitates greater concentration of wealth than if the volatility were lower. It would be better for society as whole if volatility were lower, and a significant cause of this volatility is regulations which create distortions in favor of high leverage, such as the interest tax deduction.

This is my understanding if I follow the executive director of the Bank of England's speech.

JM

[DaShi]

Most people are inefficient with their wealth and their work. However, the wealthy and employed are the most efficient. So we should tolerate some lost souls. If they want better opportunities, they should switch to buddhism. Maybe then they can be born into it, like the rest of us.

[Kuciwalker]

That is necessary for a working society. Concentration of wealth has severe negative consequences. Including economical ones. This has been demonstrated historically.

You are welcome to continue to believe false claims on the basis of evidence you don't even understand, but don't try to pass them off on me.

The distortion that is causing problems for society right now is increased volatility.

No.

Do you even understand what this claim means?

This not only leads to painful downturns like the last 3 years,

No. Even if your previous assertion were true, no.

but also facilitates greater concentration of wealth than if the volatility were lower.

No.

It would be better for society as whole if volatility were lower,

There are some better futures with lower volatility. There are some better futures with higher volatility. There is no ceteris paribus, so a statement like yours is at best meaningless and at worst false.

and a significant cause of this volatility is regulations which create distortions in favor of high leverage, such as the interest tax deduction.

No.



Christ, Jon, you are essentially wrong on every point. Start approaching the subject from an "I would like to learn about this thing that people have studied, and about which I know nothing" rather than an "I would like to find nice-sounding arguments in favor of my ideology" perspective.



For the record, Jon, your favored policies only incidentally prevent the concentration of wealth (if they do so at all, which I'm not convinced of) by impeding the accumulation of wealth entirely. And since the accumulation of wealth is how we become a wealthy society your policies are fundamentally evil.

[Kuciwalker]

Jon, what do you think volatility means? What is your model, and what is its transmission mechanism for "more volatility -> less production of goods and services"?

[Kuciwalker]

Oh, and while you may be able to come up with examples of excess concentration of wealth causing various social ills, etc., I can come up with many more where the expropriation of wealth led to far worse poverty.

[KrazyHorse]

Do you really think that talking to jon rationally will help him understand anything? He's demonstrated time and again willful stupidity and intellectual dishonesty on this subject.

[Felch]

Don't be an idiot. The treaty that Japan signed at gunpoint reduced legal restrictions on imports and exports, meaning it increased freedom of trade. Try harder next time.

The Kanagawa treaty had nothing to do with free trade. It was a classic example of mercantilism.

[Hauldren Collider]

My understanding is that the idea that wealth shouldn't be held only by a few is really a relic of the time when wealth was basically a synonym for land ownership. These days wealth, at least at a personal level, has little to do with the natural resources that you own.

That argument has now been co-opted through a fallacy of equivocation to mean "people are richer than me, this is bad."

[KrazyHorse]

You are stupid

[Hauldren Collider]

Well, sorry. Feel free to rip that apart. It's not a strongly held belief of mine, although I'm guessing that wouldn't stop you from ripping it apart anyway.

Also, you and Kuci have something remarkable in common. "You are stupid" is really just code for "I don't agree with you".

[giblets]

Well, sorry. Feel free to rip that apart. It's not a strongly held belief of mine, although I'm guessing that wouldn't stop you from ripping it apart anyway.

Also, you and Kuci have something remarkable in common. "You are stupid" is really just code for "I don't agree with you".

No, I think your post really did suck.

[giblets]

The Kanagawa treaty had nothing to do with free trade. It was a classic example of mercantilism.

It reduced restrictions on international trade, so how did it not have anything to do with free trade? Also, what do you mean by mercantilism? It sounds like you consider "mercantilism" to be "policy that gives domestic producers more access to foreign markets".

[Elok]

No, I think your post really did suck.

Yes, I'm afraid so.