| I think the charitable interpretation is that you (like many others) believe there is a group of free market economists that promote this idea of “trickle down economics”. This idea has even less merit than a strawman, since it’s literally a reference to a satire. > I would love to sell you stock that will grow at 0% for 30 years Real wage growth (inflation adjusted) has grown about 14% over the past 30 years (which included a financial crisis), so your assessment of the situation is quite unfactual. Those number are fantastic for a highly developed nation, especially when combined with such astonishingly low unemployment. > What I care about is the mentality that is justifying making "the market" be one or a handful of people, who happen to own a massive amount of wealth. Having more wealthy people doesn’t mean that everybody else has less. The growth in wealth isn’t taken away from others, it’s generated through economic growth. “The market” is in an absolutely fantastic state. If you want to market your labor, there is abundant opportunity to do so, and it’s worth more and more every year. If you want to generate your own wealth, go ahead, there is a huge amount of cheap capital available (that’s what all those wealthy people did, most of them at times in the past when capital wasn’t as available). If you want people to “give” you money (as you put it), I don’t know... try Venezuela? The only thing that determines the value of anything is supply and demand. The only alternative system ever (disastrously) trialed was central planning. If you have a better system than supply and demand to propose, then you might have a Nobel prize on your hands. |
> Real wage growth (inflation adjusted) has grown about 14% over the past 30 years
> your assessment of the situation is quite unfactual
This, for example, is entirely uncalled for. Ignoring the personal slander, since you're one for citations, and don't even provide one for your own quote here, it makes me suspicious so I went and pulled a chart for you on Wikipedia [0] based on the Department of Labor (using the same CPI that you used in your original reply to me) to show that, no, I do have a factual basis. And trying to claim I am irrational or unfactual is a great way to try to make me feel like shit. But I don't (which is not an invitation to keep trying).
> Having more wealthy people doesn’t mean that everybody else has less. The growth in wealth isn’t taken away from others, it’s generated through economic growth.
This is clear you're strawmanning me. And missed my entire point. The sheer amount of wealth, I have no problem with. But the sheer amount of wealth and power to dictate entire markets and, more alarmingly, remove segments of the population from having power in the free market is problematic for me, a free-market guy. Individuals should not have the market power to dictate what the market is. A free market should not have people powerless in that market. Which is exactly what is happening when people have to work multiple shit jobs and rely on social welfare to maintain a basic standard of living.
> If you want people to “give” you money (as you put it), I don’t know... try Venezuela?
This is such an obvious troll and a clear demonstration of your misunderstanding of my point and clear lack of caring on your part to understand, that it doesn't matter how logical and fact based of an argument I make, you're here to poke fun of a caricature of myself you have concocted for yourself. I'm calling this out as an opportunity for you to reflect.
[0] https://en.m.wikipedia.org/wiki/Real_wages#/media/File%3AUni...