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Politics : Formerly About Advanced Micro Devices
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To: combjelly who wrote (941350)6/19/2016 2:09:36 PM
From: i-node1 Recommendation

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Taro

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>> Not even vaguely true. As Adam Smith himself pointed out, wealth concentration tends to distort free markets. If for no other reason, it encourages rentier behavior, which is extremely negative.

Could you please prove the exact quote? So often, Smith's comments are massaged out of context into statements he clearly never made or that contradicted clear statements he made elsewhere. It is commonly a problem with people who have never studied economics formally leaving huge holes filled in by Google.

>> So everyone but the one with the wealth tends to be harmed.

Could you please provide a real-life, free-market example?

You do not know anything about basic economics. I've seen your posts for ages.

>> Just look at Kansas, Louisiana and every other state where wingnut economics has been applied.

Look, I understand you're ignorant of these subjects. Some locations -- California and Texas, for example, will have pretty good economies regardless of policy. Others, like Kansas and Louisiana, will have low-growth economies no matter what. It is the nature of the beast.

What we can point to as examples of liberal economics are places like Detroit and Chicago.

I would also point out that the Bay Area has the most extreme range of wealth and poverty in the country. Any person who owns a home and has for a number of years in SFO is likely a member of the evil 1%.

California's highly redistributionist policy doesn't seem to be doing a very good job.
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