also this advert which pinched the theme which I always thought was great
lol its better with visuals
Archived M2K2 Forum
One shall stand, one shall ball.
The thing to understand about trickle down economics and by extension the "invisible hand" theory is that it is based on the idea that the primary benefactors won't just exploit the hell out of the whole process to make even more money at the expense of everyone else. It doesn't factor in basic human greed. The economy is a zero sum game, if X is making money that is a share of the currency pool I am not getting, if I can exploit Y to fuck X's profits I can and will because it's better for me. It's not gonna help Z at all, but if I can convince them it will I can get their share, too. It's what people do.
Look at subprime lending making boatloads of money for the guys at the top of the financial sector and tell me how that trickled down the poor.
Look at subprime lending making boatloads of money for the guys at the top of the financial sector and tell me how that trickled down the poor.
One shall stand, one shall ball.
Americans as a rule don't know what this magical term "Welfare state" actually means, if it indeed has any meaning. But we equate it with socialism, we also don't know what socialism actually means but that doesn't stop us from declaring all things scary bad as socialist and there for extra scary bad because our political discourse is a broken shit filled toilet made of yet more shit #Trump2016 #allahuackabr #hailsatan
Ok I think I got that all out of my system, now. I love you all. God bless.
Ok I think I got that all out of my system, now. I love you all. God bless.
Not impossible
just highly unlikely
Trickle down economics has already been proven to not work. We tried it in the 80s and we're still trying to course correct from the absolute disaster it caused. You can spout all the theories you want about how it could work, but look at the practical evidence. It will fail and it will fuck us all.
Quote from DJGrenola:
just as an example, I own a house and I rented out my spare room to a friend of mine for a couple of years
he doesn't own a house and can't really save for one, because the money he earns will only ever really cover his rent, food and bills. meanwhile I just pocketed the money he gave me every month. that's an everyday example of how the rich get richer at the expense of the poor. (honestly I felt like a piece of shit doing it)
he doesn't own a house and can't really save for one, because the money he earns will only ever really cover his rent, food and bills. meanwhile I just pocketed the money he gave me every month. that's an everyday example of how the rich get richer at the expense of the poor. (honestly I felt like a piece of shit doing it)
In some countries it's actually illegal to rent a dwelling to someone as a permanent residence because it is one of the biggest ways that the poor are exploited by the rich. That's just one example of the things we don't even think about it in america because we're just so used to bullshit. If you're poor and don't have a home, the gov't will sell you one and your payments will be suitable according to your income level. They don't want anyone to be giving most of their income to someone for years just to keep a roof over their head and have absolutely nothing to show for it in the end because that's bullshit. Here it's just the way it is, and we accept it because we're idiots.
One shall stand, one shall ball.
Quote from Firenukes777:
I don't see how you could exploit it, no matter what, if you own a business you need to buy things, you can't exist with our causing a spiral and buying things for your business from someone else's business.
To use your gold mine example, the gold is mined and processed and sold, the people running the companies responsible for those services take X% of the income, they set prices to offset various costs and keep what remains. To be successful they have to stay ahead of rising costs, the gold is harder to get to or newer equipment is needed and so forth and of course day to day living has costs, food prices rise, housing prices rise. What you, at the head of the mining company, can control is how much you pay the people doing the mining. You can lay people off to save some money, you can stop hiring, you can opt not to increase wages along with inflation, you can bring in migrant workers who will work for next to nothing. All ways in which one can exploit the market for gain at the expense of people who by and large are incapable of doing anything about it.
You can say that you personally would not do any of that, but your competitors will do it and your business is done. There's no incentive to let the profits "trickle down". Immediate profit outweighs future damage every time.
Again, consider the subprime lending banks were all about in the early 2000s. "Yes you CAN buy a home, we're sure you can pay it back (one way or another), we believe in you just sign here and here and here. Congratulations!" Of course most of the buyers couldn't pay it back and wound up owning money out the ass and oh weird the guys at the top made an assload of money, while somehow their banks needed a bailout to avoid failure. They tanked the economy by themselves to make a shit load of money exactly because so many people all so firmly believe that their success is better for all of us than the relatively smaller success of the larger population, that you cannot afford a house is irrelevant because you boss's boss's boss will make more money and thus will TOTALLY use that money to hire more people and expand the business (and not on a fourth house and more cocaine than you can imagine) and pay you more, thus more people will buy things making more money for more CEOs who are definitely not having coke parties and definitely growing their businesses so more jobs and somehow no one down that line will figure out that they can just keep the greater profits for themselves.
It doesn't work, it's a theory contrived by rich men to take advantage of a basic human belief that we are good people who want to help others, but that's hard so we don't actually want to do that. Plant the idea that by being selfish you can actually be exactly as good of a person as you like to think you are without actually trying to be and you have a lovely little self sustaining source of marks to exploit to maximize your gains. In that respect it works flawlessly. People keep believing that a theory proved extremely wrong in the 80s actually works as stated despite very recent practical evidence to the contrary.