We've been a services economy for a long ass time now. We also extract rent via IP rights. Take the richest company in the world right now. Manufactures hardware in China, sells worldwide, evades taxes via Ireland, and their primary distinction mark is software (now they design hardware too tho).
Services to consumers who get paid for their services to consumers. That service can be offshored pretty easy and it many instances, it has been.
So as soon as China says off, we're now ed since ramping up production in the US for critical items isn't a walk in the park (as we saw during COVID).
China wont say fk off soon dork.
Once China says fk off to us, they fk themselves as well.
They understand this, you dont.
Your predictions and 2.75 will buy a cup of coffee at Starbucks.
outdated legal thresholds and special interest carve outs took a big bite out of overtime pay
https://capitalandmain.com/overworked-and-underpaid
Generous pandemic related public transfers had an historic effect.
https://www.nber.org/papers/w31486Heathcote et al. (2010) conducted an empirical analysis of several dimensions of inequality in the United States over the years 1967-2006 using publicly-available survey data. This paper expands the analysis, and extends it until 2021. We find that since the early 2000s, the college wage premium has stopped growing and the race gap has stalled, but the gender wage gap has kept shrinking. Both individual- and household level income inequality have continued to rise at the top, while the cyclical component of inequality dominates dynamics below the median. Inequality in consumption expenditures has remained remarkably stable over time. Income pooling within the family and redistribution by the government have enormous impacts on the dynamics of household-level inequality, with the role of the family declining relative to that of the government over time. In particular, largely thanks to generous government transfers, the COVID recession has been the first downturn in fifty years in which inequality in disposable income and consumption actually declined.
https://americanaffairsjournal.org/2...l-development/Deindustrialization, deagrarianization, financial extraction and shrinking populations in high and middle income countries are seen as the main obstacles to global economic development in this article.
The rising tide may not lift all boats and the narrative that it has up til now has been disproportionately borne by the performance of China and South Asia, according to the authors.
tl;dr
The main reason why is that they industrialized, pouring capital into productive capacity and R&D rather than pissing away their money on financial extraction and rentier gatekeeping.
Last edited by Winehole23; 09-03-2023 at 02:08 AM.
Amazon is an abusive monopoly that screws it own marketplace, buyers and sellers alike. He also owns a legacy media megaphone to massage the abuse.
Oh, and he's a world class exploiter of his own workforce.
It's OK to hate if the behavior is odious and harmful.
But go ahead, CC, tell us how Jeff Bezos is a social benefactor.
Upfront, non-means tested money was very effective not only to mitigate, but to reverse inequality.
Trump deserves credit for that too, but I don't hear him boasting on that.
Rent free.But go ahead, CC, tell us how Jeff Bezos is a social benefactor.
Reading through the thread I noticed a pending question and answered it.
you're welcome
There are currently 1 users browsing this thread. (0 members and 1 guests)
Posting Permissions
Reply With Quote
