Comments by "bj0rn" (@TheLivirus) on "Shocking Number Of Rich & Poor In New Jersey" video.

  1. I didn't mean to question your credentials, on the contrary, I found it typical of an economist to be so preoccupied with maximizing growth that he forgets why. :) Increasing inequality is a global phenomenon that I find deeply worrying. It seems as if globalization has pressured countries into a global price war through the means of dumping labor costs. What they seem to forget is, if everyone dumps their salaries, who's going to buy the products? It looks an awful lot like a downward spiral.
    1
  2. So what did you think about Mark Blyth's rant on the counter-productivity of austerity? I will admit that I don't fully fathom all his arguments, so I'd appreciate an economists opinion on the matter.
    1
  3. What are you suggesting? That we simply go out and rob the rich? lol That's not exactly a long term solution.
    1
  4. Why do you assume I'm American? If by "rise up and take back what is yours" you mean implementing socialistic ideas through the means of democracy, I won't stop you. My objection was with what seemed to be a call for violence.
    1
  5. I don't believe consumers are the job creators. My understanding of the relationship between consumer and producer is more like a feedback loop, or synergy effect if you will. I just pointed out that it takes both to make an economy, a fact it seem politicians seem to forget. They assume that there will always be a market to satisfy, if not here, somewhere else. But if everyone reason like this... I'll watch that video, but not tonight. I'd like to recoment a video myself: /watch?v=NQGCoiakycQ
    1
  6. You are clearly an economist. ;) Ultimately it is not efficiency nor economic growth that is the societal goal, but people's well-being, life quality, and happiness. While it's true that these generally correlate, they are not synonymous, and one must consider that the data suggests that recent years growth has been shared among very few. The notion that any increase in GDP is for the benefit of everyone is simply not true, and increasingly not so as inequality continues to rise.
    1
  7. I just finished the video you linked. It was a wild mix of obvious facts, controversial claims, and americentrism. I mean, I'm not entirely new to the ideas of Ron Paul and his like (fed=bad, tax=bad, regulation=bad, goldstandard=good, etc.) but extraordinary claims such as that deflation and saving money drives growth coupled with rather naive arguments... not swallowing it. But overall I think it was a thought provoking and interesting lecture. I'm always open for new perspectives.
    1