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Thread: Is Capitalism Dead or Merely Dying?

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    Is Capitalism Dead or Merely Dying?

    October 22, 2017 Posted by Raúl Ilargi Meijer at 2:02 pm


    Seven years ago, the combined wealth of 388 billionaires equaled that of the poorest half of humanity , according to Oxfam International. This past January the equation was even more unbalanced: it took only eight billionaires, marking an unmistakable march toward increased concentration of wealth. Today that number has been reduced to five billionaires.

    Trying to understand such growing inequality is usually the purview of economists, but Bruce Boghosian, a professor of mathematics, thinks he has found another explanation—and a warning. Using a mathematical model devised to mimic a simplified version of the free market, he and colleagues are finding that, without redistribution, wealth becomes increasingly more concentrated, and inequality grows until almost all assets are held by an extremely small percent of people.

    “Our work refutes the idea that free markets, by virtually leaving people up to their own devices, will be fair,” he said. “Our model, which is able to explain the form of the actual wealth distribution with remarkable accuracy, also shows that free markets cannot be stable without redistribution mechanisms. The reality is precisely the opposite of what so-called ‘market fundamentalists’ would have us believe.”

    While economists use math for their models, they seek to show that an economy governed by supply and demand will result in a steady state or equilibrium, while Boghosian’s efforts “don’t try to engineer a supply-demand equilibrium, and we don’t find one,” he said.

    https://www.theautomaticearth.com/20...-merely-dying/

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    Trickle down doesn't work, so lets do it again.

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    Spock of Vulcan Ian Jeffrey's Avatar
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    Correct. The theory of "trickle-down" is that the best way to help poor people is to direct more money to rich people.
    Thanks from labrea, Friday13 and Blueneck

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    Money doesn't trickle down. But blood does. Stay tuned.
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    Here is a vid where some speculate that we are at "peak oil" and for that the constant growth that has fueled our society, our debt for one thing could be over...



    Thx
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    Southern Strategy Liberal OldGaffer's Avatar
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    We no longer get our 200 for passing GO

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    Quote Originally Posted by labrea View Post
    October 22, 2017 Posted by Raúl Ilargi Meijer at 2:02 pm


    Seven years ago, the combined wealth of 388 billionaires equaled that of the poorest half of humanity , according to Oxfam International. This past January the equation was even more unbalanced: it took only eight billionaires, marking an unmistakable march toward increased concentration of wealth. Today that number has been reduced to five billionaires.

    Trying to understand such growing inequality is usually the purview of economists, but Bruce Boghosian, a professor of mathematics, thinks he has found another explanation—and a warning. Using a mathematical model devised to mimic a simplified version of the free market, he and colleagues are finding that, without redistribution, wealth becomes increasingly more concentrated, and inequality grows until almost all assets are held by an extremely small percent of people.

    “Our work refutes the idea that free markets, by virtually leaving people up to their own devices, will be fair,” he said. “Our model, which is able to explain the form of the actual wealth distribution with remarkable accuracy, also shows that free markets cannot be stable without redistribution mechanisms. The reality is precisely the opposite of what so-called ‘market fundamentalists’ would have us believe.”

    While economists use math for their models, they seek to show that an economy governed by supply and demand will result in a steady state or equilibrium, while Boghosian’s efforts “don’t try to engineer a supply-demand equilibrium, and we don’t find one,” he said.

    https://www.theautomaticearth.com/20...-merely-dying/
    You should move to Cuba or Venezuela. You'll certainly be happier because wealth redistribution is working so well there.
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    Quote Originally Posted by Ian Jeffrey View Post
    Correct. The theory of "trickle-down" is that the best way to help poor people is to direct more money to rich people.
    When you say "direct more money to rich people" where do you suppose that "directed" money originates? I'm really interested in hearing your answer.
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    Veteran Member Puzzling Evidence's Avatar
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    Yes, it is on the wane. Not to sound like a communist, but the advent of modern technology, there will be fewer and fewer jobs. A new political model will be needed.
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    Shut up and vote Addiction Solitaire Champion, Double Deuce Champion, Queen Jewels Champion, Ray Ray Shuffle Champion, Twins Champion, Blow Up: Arcade Champion, Bunch - Time Trial Champion, Znax Champion, Zoo Keeper Champion, Sobics School Champion, Swap a Smiley Champion, Makos Champion, Dino Drop Champion, Flower Frenzy Champion, Some Puzzle Champion, Funny Bubbles Champion, CubeZ Champion, Dinky Smash Champion, Fun Fun Animals Champion, Fruit Fabriek Champion, Raft Wars Champion, Rainbow Monkey RunDown Champion, Raft Wars Champion, Crime Puzzle Champion Blueneck's Avatar
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    Quote Originally Posted by Ian Jeffrey View Post
    Correct. The theory of "trickle-down" is that the best way to help poor people is to direct more money to rich people.
    I've noticed that there are a bunch of Republicans out there trying to sell the tax "reform" bill by stating Trump was elected because the American people want tax breaks for corporations because they know it will mean they are getting a raise.

    I seem to recall Trump getting huge applause for talking about forcing companies to come back to the US by imposing an import tax on them.
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