Given the many unanswered questions I have, I have decided to start an economics thread of my own. Anyone can post their queries about economics here, and the rest of us will do our best to answer.
These are my unanswered questions:
(1)What drives economic growth of a country?
(2)does increase of money supply means the increase of wealth of an economy?
(3)If everyone loses money in the economy, why are some people rich and some people poor?
(4)How does individual business activity stimulate growth in an economy?
(5)How does 10% of the population copntrol 90% of our wealth?
(6) What is the market ? Is it invisible? how do you know what the demand of the market is? Where are the buyers, or people who pay money?
For number 5, try 1% controls 90%. That is the current statistic. Now I am very anti socialist when it comes to redistribution of wealth (being I believe it promotes entitlement and laziness) however this is unsustainable. I am a person that believes in order and long term stability, and this statistic is not healthy and is increasing the chaos quotient related to society. Just imagine if that 1%'s wealth was dropped in half. It would almost double the income of everyone else.
By comparing this statistic to the main growth of the middle class 40-50 years ago, basically the average median household income should between 80 and 110K a year to sustain a non debt society.
Again taking the money and redistributing is bad but there needs to be something that makes the generation of said wealth distributed more evenly throughout the economy.
The American Dream is different for everyone, but many people who are wealth driven are possibly creating their American Dream and the expense of too many others. Hard decision here.
I believe he is talking about the US. And I might have misstated it slightly but it is close to what I wrote. Basically less then 1% of the US population has more wealth then 90% of the rest of the US combined.
Here is an article that just came out this week and was also on TV. Was a great show.
I believe he is talking about the US. And I might have misstated it slightly but it is close to what I wrote. Basically less then 1% of the US population has more wealth then 90% of the rest of the US combined
That's rather extreme; the USA does have an high Gini Index, higher than most developed countries, but I'd need some reliable sources to believe that there is such an high concentration of wealth.
ptgasby. people want everything, but people cannot buy everything. this is always true.
But there are goods that people will always spend money on. Fopr instance:
etc etc... thjere are more but this is only what i can think of now
This is how some buysiness becomes powerful while other business stay small and weak.
For instance, there is a dude down the street that sells poorly made plastic dragons, and he is pratically living like a bum. Becuase no one likes to buy plastic dragons. This is how ruthless the market really is.
The fear of poverty turns people into slaves of money.
"In this Caesar there are many Mariuses"~Sulla
Conquer your inner demons first before you conquer the world.
The US is lower than the global distribution. US has always been top 1% between 30-40%, AFAIK.
Again, feel free to check the link I posted (read the quote underneath 1,000 billionaries statement). I watched that documentary and it was amazing. Just the thought of millionaires feeling poorer then the average American due to the fact the people the usually work with/for/around are much richer then they are at times causing a bigger social shock then what most middle class Americans would feel being around their normal peers and bosses. Strangely insightful into a lot of things.