arkrud wrote:Knickoftime wrote:arkrud wrote:Simply say if you take 1 million dollars and give it to million people.
Then they all go to the store and by pack of cigarettes made on government factory which is subsidized itself.
Then wealth worth 1 million is reduces to nothing.
I am not advocating for or against capitalism, socialism or any other ism.
But you are oversimplifying the issue.
Part of that million dollar also gets distributed to the trucking company that got it from the factory to the local 7-11 it was purchased.
And to the company that manufactured the wall display 7-11 tobacco products are kept on. And to the distribution company that probably sold it to them.
And of course the owners/franchisees of the 7-11 takes a few cents as well, part of which makes it to the franchisor.
Obviously I did and I stated later that it is much more complicated that that.
What happens (and i witness this myself) in all countries with centralized socialism economy wealth is moving into underground market economy and money laundering process eats into it. The overall inefficiency and corruption adds to it so economy is falling apart rather quickly.
The recessions and bubble bursting processes in capitalist economies are also destroying large amount of wealth but it is mostly inflated capital which has no real material base in the economy. There are still individual losers in this process. But this is the nature of the beast not some administratively forced ideological process.
Akrud, Most people resent inequities but many people also resent success by others so socialism is their great equalizer regardless of it's history of limitations and failure. The inconvenient reality is that while some are born and raised to priviledge and excess, the vast majority are not. The truth is that the 1% that people cite is really more the .001% to .005 that own America's wealth . Most of the 1% ( ann. income of 430k or higher) and certainly most of the 10% ( 160k or higher) get to their position in life by getting educated, developing a distinct talent, working long hard hours, taking risks establishing businesses and having the abilty to innovate. They are professionals, business owners and entrpreneurs, they save, invest and reinvest rather than spend frivously and most are charitable and concerned rather than white supremists plotting to suppress. I don't begrudge anyone ( beyond the flaunting ssssholes) who makes that 1% category whether it be my friend who immigrated from Russia and made his small fortune driving a yellow taxi for years using his earnings to buy medallions to lease out or a Muslim associate who makes 500k in IT, or the Korean immigrant next door who made his empire opening grocery stores and then acquiring commercial buildings with his profits or my wealthy Jewish heart surgeon who came out of his ghetto with student loans up the gazoo or my 3rd gen Italian friend who makes $3-4 mil a year from acquiring warehouses through LEVERAGING and now gainfully employs 2k people or even the inventors of Google who make whatever absurd monies they make. It is proper to discuss and understand black history, the causes and effects and to look for improvements and eradications of systematic but for gawd sake black leaderss and culture in general have to take stock and be accountable to themselves. Take head on the issue of 73% out of wedlock births, 66 % single parent families , the literacy rates of black youth at every level that score below every other racial and ethnic group that knocks many out of viable employment and leads them to prison in disproportionate numbers as much as any racially biased white system does. Kids should not be walking through metal detectors because classmates are carrying knives or guns. 70% of prisones have the literacy of a 4th grader, 85% of juvenile deliquenst who interface with the courts are functionally illiterate. That is a HUGE problem that hasn't been resolved with more funding and it won't be without a change in cultural norms in addition to other changes that are necessary. As far as middle class, technological innovation has reduced the need and value of many job functions and will continue to do so. Even the educated will need to adapt to the changing work envoronment and regear their skillsets and career direction to avoid wage stagflation or obsolescence. The great recession obviously hurt the middle but the trend has been to both higher pay tier for specific talents or lower paying employment for general work. Could expand more on middle class amid today's corporations but this post is all ready too long so I'll leave it for another day
7/28/2016 1:38 PM
I thought we were talking economics and the poor. I was not discussing the caste system other than saying it is being undermined by the rise of economic opportunity of the lower castes. Undermined in that with greater economic and political equality more attention is being given to the lack of social equality. Which is a good thing. The Caste system is a far greater issue in India that is embedded in religion and culture.