Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (301331)	8/28/2006 6:09:44 PM
From: TimF	Read Replies (3) \| Respond to of 1576180

Message 22759585 Most particuarly - The empirical data support the view of the market economy as a dynamic and open society which provides opportunity to those who participate. There is no evidence of stagnation, with the turnover rate in the most stable quintile -- the top fifth -- exceeding 35 percent. The turnover rates in the bottom four quintiles were at least 60 percent over the period, with most of this reflecting upward progress. Analysis which assumes or suggests stable composition of family or household income quintiles rests on invalid assumptions. It makes no sense to draw sweeping conclusions such as "the income of the bottom 20 percent of families fell" in a 15-year period when most of the people originally in that category have long since improved their standard of living enough to have moved up from the bracket entirely. Christopher Frenze Senior Economist house.gov and policyreview.org Also see - "But they're not the same people in the two snapshots. The comparison of the two snapshots is close to meaningless. The bottom quintile of families today includes a bunch of people who weren't there in 1980. Some of the families are recent immigrants to the United States seeking opportunity. Some of the families are young and just starting out. Some are the result of a divorce that has dumped one or both partners into poverty and it will take time for them to recover. And most importantly, some of those rich families today that have allegedly zoomed ahead were poor in 1980 but have become rich in the meanwhile, an experience that is the exact opposite of what the headline would have you believe." cafehayek.typepad.com