The idea of a “K-shaped economy” has become one of the most persistent themes about the US economy: While some households continue to thrive, in particular the wealthy ones, everyone else falls further behind. On this episode of Trumponomics, host Stephanie Flanders, Moody’s Analytics Chief Economist Mark Zandi and Bloomberg Economics’ Andrew Sacker explore whether that narrative is simply another way of describing that longer-term American phenomenon of inequality — or whether it points to a deeper vulnerability.
Economy can never be really dependant on the rich. Economy is dependant on labor and resources, disappearing the rich doesn’t make the labor or resources to disappear, it just makes the results of labor + resources to be more spread. You could disappear all the rich overnight, make a decree that all rich-oriented businesses will instead be state funded and yachts and drugs will instead be allocated through a random number generator, and the economy won’t have changed (only in distribution).
It can still be “dependent” on their consumption spending to make all the economic exchange actually happen. Obviously this isn’t something they do out of the kindness of their hearts but because they have all the fucking money
The state has an arbitrarily high consumption power, my point was the state can purchase and then redistribute those goods during the transition from a luxury economy to a welfare sustainability
Yea but this is bourgeois shit world so The State isn’t gonna Do That unless things start to fly so wildly off the rails that even the most myopic parasite sees the necessity for stimulus
Well, we’re working under the assumption of disappearing the rich, of course neither thing would happen in modern society, doesn’t mean it’s not economically sound. I’m just exposing how we rely 0% on the rich, not even for the luxury industry.
Economy can never be really dependant on the rich
i describe how the current reality is actually that
argue
I think you’re doing a thing where people take a statement of fact as an endorsement of that fact or the system that produced it so you wanna argue but anyway no i was not operating “under the assumption of disappearing the rich” in describing things as they currently are, which is what others are doing when they say the economy is dependent on bourgeois consumption spending, i was describing reality
But that’s not the economy depending on the rich, that’s what I’m arguing against, it’s not real because the rich don’t contribute to the economy. Saying that it depends on the rich is not real because the rich aren’t what keeps the economy afloat, you can have the same economy without rich but you can’t have the same economy without the workers. The rich just geared the economy to cater to their desires.
I don’t think you’re understanding what’s being said
The economy isn’t shit being done or made, it’s the system of exchange all that takes place in. you’re all “omg, the labor theory of value!” and it’s like, yeah, no shit everything is made and done on the backs of working peoples’ labor
That’s not what “the economy is dependent on the consumption spending of the rich” is even commenting on. It’s telling you, as a fact, that an overly large amount of the spending that drives economic activity is coming from the rich
Full stop. It’s a description of reality
“But the government could” shut the fuck up! 1) no shit, but 2) we’re not wishcasting our dreams for an alternative reality here, we’re describing what is
Yeah of course it’s all fake bullshit and we could simply kill the rich, expropriate their resources, etc etc etc but that’s not useful to yammer on about when people are trying to describe what’s actually occurring, right now, right this second
Im annoyed i gotta block you see you when i get curious about a chain of replies i can’t see and decide to unblock in the future, peace out dawg
The year is 1778, the United States economy is dangerously dependent on the rich
The year is 1878, the United States economy is dangerously dependent on the rich
The year is 1978, the United States economy is dangerously dependent on the rich
I found a YouTube link in your post. Here are links to the same video on alternative frontends that protect your privacy:
