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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.
(no subject)
Date: 21/4/10 17:56 (UTC)Is Bill Gates more politically powerful than you or I? Certainly. But how does his power relative to us compare to the power of a rich Sheik in Saudi Arabia to a common worker there?
Yes, great wealth gets you more political power everywhere but in a modern first world economy the amount of power a given quantity of wealth will get you is greatly reduced.