finknottle Posted October 5, 2009 Share Posted October 5, 2009 Interesting piece on income inequality, with some surprising factoid nuggets: http://www.forbes.com/2009/10/02/income-in...john-tamny.html It seems to say that the numbers which are used in these sorts of calculations are only for the hourly wages of private nonsupervisory workers - this is far less representative than I had expected. The percentage of nonsupervisory jobs in the economy has slowly but steadily contracted over the decades. And since workers frequently move from nonsupervisory to supervisory status as they advance it raises questions in my mind about claims of wage stagnation. Also, a 20 year study found that of workers in the bottom fifth in 1975, 30% were in the top fifth in 1995, and 30% in the second. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted October 5, 2009 Share Posted October 5, 2009 Interesting piece on income inequality, with some surprising factoid nuggets:http://www.forbes.com/2009/10/02/income-in...john-tamny.html It seems to say that the numbers which are used in these sorts of calculations are only for the hourly wages of private nonsupervisory workers - this is far less representative than I had expected. The percentage of nonsupervisory jobs in the economy has slowly but steadily contracted over the decades. And since workers frequently move from nonsupervisory to supervisory status as they advance it raises questions in my mind about claims of wage stagnation. Also, a 20 year study found that of workers in the bottom fifth in 1975, 30% were in the top fifth in 1995, and 30% in the second. Really! Kinda funny... The thougt of the day (before the article) opened with funky Ben's: "Do not squander time, that is the stuff life if made of." Back to the article. It addresses the items of the former rich as now beiong common. What about the mobility of the rich? Do I really need to be squandering my time on this computer! Of course not... I don't need a cellphone, internet, and cable TV. They are basically useless. Of course my using them is my fault! What I am saying is that these innovations are trappings. Once trappings of the rich, now everybody's. What is good about that? Just because the gap between trappings has dimished doesn't make the game any better. The rich just have x10 times as many trappings. Attaining "wealth" to me is much more that consumer trappings. It is about self power and mobility. Consumer items don't bring that, they hinder it. Link to comment Share on other sites More sharing options...
Magox Posted October 5, 2009 Share Posted October 5, 2009 Really! Kinda funny... The thougt of the day (before the article) opened with funky Ben's: "Do not squander time, that is the stuff life if made of." Back to the article. It addresses the items of the former rich as now beiong common. What about the mobility of the rich? Do I really need to be squandering my time on this computer! Of course not... I don't need a cellphone, internet, and cable TV. They are basically useless. Of course my using them is my fault! What I am saying is that these innovations are trappings. Once trappings of the rich, now everybody's. What is good about that? Just because the gap between trappings has dimished doesn't make the game any better. The rich just have x10 times as many trappings. Attaining "wealth" to me is much more that consumer trappings. It is about self power and mobility. Consumer items don't bring that, they hinder it. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted October 5, 2009 Share Posted October 5, 2009 You are buying what they are selling. Thanks! I don't disappoint! Link to comment Share on other sites More sharing options...
Chef Jim Posted October 5, 2009 Share Posted October 5, 2009 +1 I thought I'd never use that +1 crap but I just couldn't help myself. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted October 7, 2009 Share Posted October 7, 2009 So really, Forbes tells me not to worry about income inequality since I have a cellphone, internet connection, and marble floor... Or whatever. I got what the rich only had! Really, are we talking about income inequality between just Americans or everybody in the world... Rich and poor? "Rather than worry about it, we should celebrate wealth inequality as a sign that enterprise is being rewarded, all the while knowing that the disparity has focused the minds of innovators eager to reduce the gap in ways that will make us better off. In other words, income-inequality worries are utterly pointless." That is a pretty big assumption... Ah... NEWSFALSH: Alot of the world is NOT better off. Ya we as Americans may be better to some degree... But not because of consumer goods we can afford. What about the guy making cellphone or whatever. Do they even know what they hell they are producing and for who? If say an American can muster up a buck in change... They are richer than about 95% everybody else in the world (it may be higher)... What? I am not supposed to fret about that since I am now have in my hot little hands what was once only the trappings of the rich. Forbes articles never seem to fail bringing the entertainment value. Link to comment Share on other sites More sharing options...
finknottle Posted October 7, 2009 Author Share Posted October 7, 2009 So really, Forbes tells me not to worry about income inequality since I have a cellphone, internet connection, and marble floor... Or whatever. I got what the rich only had! Really, are we talking about income inequality between just Americans or everybody in the world... Rich and poor? "Rather than worry about it, we should celebrate wealth inequality as a sign that enterprise is being rewarded, all the while knowing that the disparity has focused the minds of innovators eager to reduce the gap in ways that will make us better off. In other words, income-inequality worries are utterly pointless." That is a pretty big assumption... Ah... NEWSFALSH: Alot of the world is NOT better off. Ya we as Americans may be better to some degree... But not because of consumer goods we can afford. What about the guy making cellphone or whatever. Do they even know what they hell they are producing and for who? If say an American can muster up a buck in change... They are richer than about 95% everybody else in the world (it may be higher)... What? I am not supposed to fret about that since I am now have in my hot little hands what was once only the trappings of the rich. Forbes articles never seem to fail bringing the entertainment value. Can you explain your assumption that income inequality is bad? Or is it self-evident? Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted October 7, 2009 Share Posted October 7, 2009 Can you explain your assumption that income inequality is bad? Or is it self-evident? Ya. The more income inequality there is the more power a class of people has over the next. It isn't just about nice shiny stuff. The article is laughable. Is this what they give the company reps to brainwash them when the have to ship them off to some third world company and see how the product is made. "Gee! Doesn't look too bad for 8 year old Ping being chained to the sewing machine... I can sleep better at night in my 5000 square foot house in McSuburbia now." The proof is most of the world. Link to comment Share on other sites More sharing options...
Chef Jim Posted October 7, 2009 Share Posted October 7, 2009 Ya. The more income inequality there is the more power a class of people has over the next. It isn't just about nice shiny stuff. Please explain what power you're referring to. Link to comment Share on other sites More sharing options...
/dev/null Posted October 7, 2009 Share Posted October 7, 2009 Please explain what power you're referring to. The greatest power of all... Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted October 7, 2009 Share Posted October 7, 2009 Please explain what power you're referring to. Of the top of my head, on very important one comes to mind: Political power Link to comment Share on other sites More sharing options...
Chef Jim Posted October 7, 2009 Share Posted October 7, 2009 Of the top of my head, on very important one comes to mind: Political power Are the more rich people or middle class people in this country? Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted October 7, 2009 Share Posted October 7, 2009 Are the more rich people or middle class people in this country? Is there even a middle class? You don't need many to control people... Money is the be all and end all. The article tells one that they should not fret over income inequality... Like it is a good thing... Really? Because we have Dell computers and cellphones. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted October 7, 2009 Share Posted October 7, 2009 My brother drives a truck and hauls cars for a living. This time of the year he is hauling cars for the "snowbirds." He is on this way to FLA as we speak... One car he picked up was a 400,000 K Bentley... He is hauling it to Pompano Beach for a grand. Does this mean in 35 years I will be driving a 400,000 K automobile? Maybe a K-car. What do the rich do... Read these articles and justify their existence. Link to comment Share on other sites More sharing options...
Magox Posted October 7, 2009 Share Posted October 7, 2009 Is there even a middle class? Link to comment Share on other sites More sharing options...
Chef Jim Posted October 7, 2009 Share Posted October 7, 2009 Is there even a middle class? You don't need many to control people... Money is the be all and end all. The article tells one that they should not fret over income inequality... Like it is a good thing... Really? Because we have Dell computers and cellphones. Last I heard votes controlled politics not money. Now before you call me naive I know money pulls a lot of strings politically but that's only because the majority of this country is lazy, lazy, lazy. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted October 7, 2009 Share Posted October 7, 2009 Last I heard votes controlled politics not money. Now before you call me naive I know money pulls a lot of strings politically but that's only because the majority of this country is lazy, lazy, lazy. Keep kidding yourself. Whatever makes you sleep at night. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted October 7, 2009 Share Posted October 7, 2009 -1 Link to comment Share on other sites More sharing options...
Chef Jim Posted October 7, 2009 Share Posted October 7, 2009 Keep kidding yourself. Whatever makes you sleep at night. So you don't think if the people educated themselves a little bit and rose up and got involved and voted they couldn't change things? Link to comment Share on other sites More sharing options...
Chef Jim Posted October 7, 2009 Share Posted October 7, 2009 -1 No I don't think so. Questioning whether or not there's a middle class is a pretty idiotic statement. Link to comment Share on other sites More sharing options...
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