General Discussion

tclambert

(11,193 posts)

10. If the typical family had $13,000 more a year, where would the economy be?

Sun Dec 15, 2013, 05:49 AM

Dec 2013

Economists might start using a "p" word we haven't heard much in the last few decades--Prosperity. (You younger readers, under 40, might not have heard of this word. But I swear I didn't make it up.) Economists actually used to debate over how to exactly define prosperity. Does it require growth? Should you include non-economic factors like health and happiness in the definition? But they would all agree we haven't seen anything close to it in a long, long time.

Another archaic term economists of yore used to talk about is a "rising standard of living." It seemed pretty popular in the 1960s, but has mostly fallen out of use today.

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The 1% is Hogging So Much of Our Income That It�s Holding the Economy Back [View all] Hissyspit Dec 2013 OP

See tonights segment on Mellisa Harris Perry on income inequality Left Coast2020 Dec 2013 #1

yep. all the walth in coffers of largest corporations and wealthiest families--dead weight loss Pretzel_Warrior Dec 2013 #2

hogwash they say Ichingcarpenter Dec 2013 #3

You go, Hissy! snot Dec 2013 #4

I agree. Who is doing the math for them??? blue14u Dec 2013 #8

The thing is, the greedy are not givers. QuestForSense Dec 2013 #14

Unfortunately, as they acquire more wealth, their greed tends to increase exponentially.nt ladjf Dec 2013 #22

Speaking of Romney, remember the 47% video JHB Dec 2013 #29

After the first $100 million or so, the money itself doesn't matter, it's your status in "the game." tclambert Dec 2013 #13

They don't care about US markets any more.. sendero Dec 2013 #19

An unlimited growth economy would destroy the biosphere. Sirveri Dec 2013 #40

Bingo!! nt 2naSalit Dec 2013 #42

And the great owners... leeroysphitz Dec 2013 #5

It's holding OUR economy back. The 1% has demonstrated that they don't CARE about that.... Spitfire of ATJ Dec 2013 #6

Let's not forget... dchill Dec 2013 #7

It's not going to change until we quit enabling them. n/t jtuck004 Dec 2013 #9

If the typical family had $13,000 more a year, where would the economy be? tclambert Dec 2013 #10

I've been saying this for years... MrScorpio Dec 2013 #11

The top 1%... nikto Dec 2013 #12

There is also a tremendous amount of money to be made without producing any actual value. TheKentuckian Dec 2013 #35

The Oligarchs, Corporations And Banks Own And Control The Politicians That Own And Control Us cantbeserious Dec 2013 #15

k&r for the truth. n/t Laelth Dec 2013 #16

Imagine Notafraidtoo Dec 2013 #17

And their austerity solution lets them hog even more. eom. Festivito Dec 2013 #18

The Rich are Worthless rock Dec 2013 #20

It appears to be the Scarcity Principle at work. ananda Dec 2013 #21

CEO's work for stock holders ...not employees. L0oniX Dec 2013 #23

Eventually even the stock holders get left holding the bag. PassingFair Dec 2013 #25

Thank You for posting this. Good read. KittyWampus Dec 2013 #24

I've been repeating this mantra since Reagan. It is called capital hoarding. Coyotl Dec 2013 #26

The problem is people think rich people spend...but they don't they save VanillaRhapsody Dec 2013 #27

The wealthy also spend on the wrong things Coyotl Dec 2013 #30

They buy land at pennies on the dollar...they hoard that too... VanillaRhapsody Dec 2013 #32

The price of land in some popular hunting areas is now beyond the reach of farmers Coyotl Dec 2013 #33

Kicked and recommended. Uncle Joe Dec 2013 #28

du rec Tuesday Afternoon Dec 2013 #31

Hence the need for Fed's QE's-to compensate for the $ lost to the hoarders nt ErikJ Dec 2013 #34

HUGE K & R !!! - Thank You !!! WillyT Dec 2013 #36

George Carlin was right - it's a big club and we're not in it. Initech Dec 2013 #37

Have you ever played monopoly? SoLeftIAmRight Dec 2013 #38

Greedy pig Walton family has as much wealth at the bottom 40% of USA. JEB Dec 2013 #39

"The only real solution is to pay them higher wages." reformist2 Dec 2013 #41

It appears that 2naSalit Dec 2013 #43

All of you describe pieces of the economic puzzle, but you fail to see the big picture. AdHocSolver Dec 2013 #44