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talkpoliticsWhat accounts for the spikes in these graphs? Conservative (free market) policy or corporatist (government intervention) policy?
Why'd average Wall St. bonus pay recently quadruple average annual salaries? Why'd the financial sector recently triple the nonfinancial sector? Why'd the highest incomes recently increase 36 times faster than median family income?
Provide concrete explanations as to how X (policy) caused Y (economic indicator). Point to specific legislation or executive orders.
The liberal position is predictable: The unprecedented extreme growth in the financial sector and increased inequality is bad. Free market policy (deregulation of banks --> derivatives market expansion --> collapse) is to blame.
I'm more interested in the conservative position: How do you explain the unprecedented growth in the financial sector and the increased income inequality? What're the causes? Is corporatism (government interventionism) responsible? If so, how? Do you draw a connection between the above figures and the financial collapse?
I honestly don't understand the conservative position.
Why'd average Wall St. bonus pay recently quadruple average annual salaries? Why'd the financial sector recently triple the nonfinancial sector? Why'd the highest incomes recently increase 36 times faster than median family income?
Provide concrete explanations as to how X (policy) caused Y (economic indicator). Point to specific legislation or executive orders.
The liberal position is predictable: The unprecedented extreme growth in the financial sector and increased inequality is bad. Free market policy (deregulation of banks --> derivatives market expansion --> collapse) is to blame.
I'm more interested in the conservative position: How do you explain the unprecedented growth in the financial sector and the increased income inequality? What're the causes? Is corporatism (government interventionism) responsible? If so, how? Do you draw a connection between the above figures and the financial collapse?
I honestly don't understand the conservative position.
Re: I think you need to check your adages
Date: 21/4/10 02:02 (UTC)Re: I think you need to check your adages
Date: 21/4/10 02:22 (UTC)Re: I think you need to check your adages
Date: 21/4/10 02:22 (UTC)Re: I think you need to check your adages
Date: 21/4/10 02:44 (UTC)a) High relative wealth = high relative socio-political power
b) Power corrupts
c) Or?