Brad,
"This is my response: tough luck. There is a real risk that you'll screw
up a really good thing (the low inflation/moderate growth/high venture
investment/low unemployment paradigm) if you try to "address" any "real
or perceived inequity". The new paradigm is not perfect but if you dick
around with it, it may be less perfect overall as a result."
New paradigm is a farce,this is a secular change in an economy,based on a new industrial revolution. We had the same new paradigm in the 20's,and also in the 1880's. Actually we have had a new paradigm,so to speak every 60 or so years. This is not a new paradigm,but a fundamental change we have always gone through,as all capitalistic societies do(creative destruction). The second point is that the war we are fighting is the last war,inflation. Inflation is not the enemy of secular change,but deflation. We are focusing on inflation,due to our short memories of history,and our last bout of inflation in the seventies. We may see a catastrophic destruction of and old industrial base,and this new one takes hold. This will lead to a disnflationary environment,and possibly a deflationary spiral. The good news is,from these ashes will rise a new America,a new industrial base.
"Who am I? A becoming-rich ivy-league professional who grew up in a poor,
working class, enthnocentric town in the deep south. I didn't spend my
early years bitching that my parents were too poor to take me to Disney
World, or couldn't buy me Nike basketball shoes. I didn't beg the
"haves" of the world to give me a handout. I got off my ass and studied
for a summa cum laude college degree. Now, that's what I call an
efficient allocation of resources."
2 points are,how did you get your scholarships? Did your parents help you out with school? Ivy league colleges are over $20,000 a year,where did you finance your education?
Whatever you beleive and I believe are irrelevant,its what is a perceived injustice that is the problem. This cannot be changed by legislative means.it must be addreessed by morality and ethics in business. If you become wealthy,what will you do with this wealth? Retire early or persue a new avenue of business to create more jobs through private enterprise?
Hiram |
