News Occupy Wall Street protest in New-York

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The Occupy Wall Street protests in New York have entered their second week, with approximately 5,000 participants initially gathering on September 17. Protesters are voicing their discontent over issues such as bank bailouts, the mortgage crisis, and the execution of Troy Davis, leading to 80 arrests reported by the New York Times. While some view the movement as disorganized, others argue that it highlights significant economic disparities and calls for reforms like reinstating the Glass-Steagall Act. The protests are seen as a response to rising poverty and unemployment rates in the U.S., with many participants expressing frustration over the current economic situation. The ongoing demonstrations reflect a broader sentiment of dissatisfaction with the financial system and government accountability.
  • #331
mege said:
Regarding jobs: I wonder how many of the 'under employed' have some non-demand degree (I generally use non-teaching 'English' as an example) and aren't reacting to the available jobs.

I have an ivy league physics degree and a top 10 phd in physics. I can program in fortran and have spent the last year boning up on c++, sql, etc. Anything employers might be looking for, I'm trying to learn. I have a strong statistics background. When people talk about high skilled jobs, they are generally talking about jobs requiring math, science and computing, and yet, I tend bar.

Yes, its an anecdote, but my point is, its not just the low-skilled people who are suffering. Recent graduates in ALL fields (even engineering) are suffering from record unemployment. http://economix.blogs.nytimes.com/2011/05/19/the-college-majors-that-do-best-in-the-job-market/

There's plenty of jobs out there, it's just that the available jobs don't match up with the current national skillset.
(source).

Did you read your source? it makes the EXACT opposite point you are making.

Your Source said:
The only problem is that this explanation is basically wrong. The weight of the evidence shows that it is not a mismatch of skills but a lack of demand that lies at the heart of today’s severe unemployment problem.

I'm actually looking to hire two entry level techs (I'd take a competent high school grad and pay for some training even) and the candidates are slim pickings.

Private message me the details.
 
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  • #332
WhoWee said:
"At the top of the park, I found Robert Daros, from Florida, sitting in a chair behind a table with a sign that said, “info.” Originally from Florida, he saw a poster in a café and wanted to participate. So he quit his job and came to the park. He, like everyone else who is taking part in the Occupy Wall Street protests, is still trying to figure out how to successfully organize."

This guy would be a fantastic archetype to understand. I mean that genuinely. He quit his job to go protest for a job? Or does this mean we can cross of the "jobs" thing from the Occupy Wall Street agenda? If a job isn't good enough, what else are they hoping for?

Don't jump down my throat, I get the "maybe he's an idealist" thing. But, let's face it, he probably isn't. I donate plenty to charity each year and I volunteer in soup kitchens around the holidays, but I'm not about to quit my job to do it. He could've taken some vacation time, or even a personal leave of absence... but he QUIT his job.

His mentality would be important to understand. It sounds like all they got form him are a few slogans, though.

WhoWee said:
"ARUN VENUGOPAL: Until a couple weeks ago, 34-year-old Casey O'Neill worked as a data manager in Oakland, California. Now, he lives in a park next to ground zero.

CASEY O'NEILL: I actually quit my job and got a one-way ticket out here for the protests. I just felt like it was really - in a lot ways, this was the last hope for some sort of real change."

Same with these guys. If only they could get some real information about their motives.
 
  • #333
FlexGunship said:
This guy would be a fantastic archetype to understand. I mean that genuinely. He quit his job to go protest for a job? Or does this mean we can cross of the "jobs" thing from the Occupy Wall Street agenda? If a job isn't good enough, what else are they hoping for?

Don't jump down my throat, I get the "maybe he's an idealist" thing. But, let's face it, he probably isn't. I donate plenty to charity each year and I volunteer in soup kitchens around the holidays, but I'm not about to quit my job to do it. He could've taken some vacation time, or even a personal leave of absence... but he QUIT his job.

His mentality would be important to understand. It sounds like all they got form him are a few slogans, though.

Same with these guys. If only they could get some real information about their motives.

It sounds as though they both made an emotional decision?
 
  • #334
ParticleGrl said:
I have an ivy league physics degree and a top 10 phd in physics. I can program in fortran and have spent the last year boning up on c++, sql, etc. Anything employers might be looking for, I'm trying to learn. I have a strong statistics background. When people talk about high skilled jobs, they are generally talking about jobs requiring math, science and computing, and yet, I tend bar.

I'm currently in a round of interviews. I'm a young engineer with about 5 years of real experience. I'm interviewing with a manufacturer of single-cup coffee makers, a company that makes their own automation controllers, and a Canadian-based company that does automation retrofits for older machinery.

My skill-set is in relatively high demand:
• Programming in x86 assembly, C, C++, and MatLab
• Embedded systems design, and control systems fabrication
• Test engineering; design for test; hazard reduction; system stability; data mining and analysis
• Comprehensive experience working with Siemens Simotion and Sinamics servo technology
• Extremely proficient with the Microsoft Office (including 2007) and Open Office suites
• Predictive performance modeling for complex systems
• Extensive experience developing real time motion control systems including pioneering work in open-loop/closed-loop hybrid systems on the Siemens Simotion motion control platform
• Extremely high level understanding of motion and motion control concepts from basic vector control to multi-axis real-time, high-speed positioning
• Advanced understanding of controls theory
• Superior pubic speaking skills and confidence
• Extremely high level understanding of mathematics​

That's a quick copy-and-paste from the "practical skills" section of my resume. I didn't have to apply for any of the jobs. I put my resume on Monster and sent it to 10 or 11 recruiters and just wait for calls.

WhoWee said:
It sounds as though they both made an emotional decision?

I agree. I think someone should hunt them down in a few weeks and see if they regret their decisions. Also... who is paying the mortgage, or school loans right now? Maybe they'll default? Maybe tax payers will end up paying for it in another bailout? Or maybe it'll just cause all lending rates to rise.

It's really quite an absurd mentality, you know, to just walk away from your responsibilities on a whim.

EDIT: Again, don't jump down my throat with the: "maybe they're just doing what they believe in!" I get it! It doesn't make it responsible behavior. And the idea that they would exercise IRRESPONSIBLE behavior to protest IRRESPONSIBLE behavior is ironic beyond expression.
 
  • #335
FlexGunship said:
I'm currently in a round of interviews. I'm a young engineer with about 5 years of real experience. I'm interviewing with a manufacturer of single-cup coffee makers, a company that makes their own automation controllers, and a Canadian-based company that does automation retrofits for older machinery.

My skill-set is in relatively high demand:
• Programming in x86 assembly, C, C++, and MatLab
• Embedded systems design, and control systems fabrication
• Test engineering; design for test; hazard reduction; system stability; data mining and analysis
• Comprehensive experience working with Siemens Simotion and Sinamics servo technology
• Extremely proficient with the Microsoft Office (including 2007) and Open Office suites
• Predictive performance modeling for complex systems
• Extensive experience developing real time motion control systems including pioneering work in open-loop/closed-loop hybrid systems on the Siemens Simotion motion control platform
• Extremely high level understanding of motion and motion control concepts from basic vector control to multi-axis real-time, high-speed positioning
• Advanced understanding of controls theory
• Superior pubic speaking skills and confidence
• Extremely high level understanding of mathematics​

That's a quick copy-and-paste from the "practical skills" section of my resume. I didn't have to apply for any of the jobs. I put my resume on Monster and sent it to 10 or 11 recruiters and just wait for calls.

Very good - if you want to be a little more aggressive - try using a site like this one http://www.thomasnet.com/ to search for local companies, visit their websites and find contact info to email resumes directly.
 
  • #336
WhoWee said:
Are you certain it was a Boston Police Officer that threw the American Flag on the ground - is it possible the man dropped the flag? Personally, I've never seen anyone standing in a public garden amongst $150,000 worth of newly planted shrubs holding a large American Flag at 1:00 in the morning - have you? If I did see someone doing such a thing - my assumption wouldn't be that he was a patriot - I'd probably think he was very intoxicated or planning to do something he'd later regret.

Now you are just speculating. Police threw the flag on the ground.

http://thinkprogress.org/special/2011/10/11/340186/boston-police-throw-american-flag-to-ground-arrest-veterans-trash-property-to-protect-green-space-from-99-percent/
 
  • #337
WhoWee said:
Very good - if you want to be a little more aggressive - try using a site like this one http://www.thomasnet.com/ to search for local companies, visit their websites and find contact info to email resumes directly.

Thanks. My point (albeit anecdotal) was that people will skills ARE in demand. I'm not special. If you do exactly what I'm doing then you'll be fine. I don't have a magic potion, and I haven't made any deals with the devil (recently)... I just work hard, refine my in-demand skills, and go where the work is. I certainly don't look at a job and say "meh, doesn't interest me." I follow up on every lead, take an interview with every company, and put in 100% effort in building a solid career. If I had a wife and kids, I'd want them to feel financially safe and secure even in rough times like these.

I have a mortgage and I'm more than 30% underwater (market value to mortgage value) on it, so relocation isn't easy for me. But if I didn't have a job, you'd better believe I'd farking figure it out.

I can't help but think that spending all of my time protesting would cut into my skill-building and job-hunting time.

EDIT: It's funny. If someone were house hunting and the realtor showed him or her a house for $100,000 and said: "If you fill the pool in the back it'll be worth $200,000; if you mow the lawn it'll be $300,000; and if you give it a fresh coat of bright paint it'll be worth $400,000" presumably he or she would jump on that type of value!

But if someone told that same person: "you're only worth $100,000/yr job right now, but if you build a few new skills you'll be worth $200,000; if you clean up your appearance and get a nice haircut you'll be worth $300,000; and if you practice your public speaking you'll be worth $400,000" they'll argue that there are no jobs available.

Your best investment in a slow economy is in yourself.
 
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  • #338
edward said:
Now you are just speculating. Police threw the flag on the ground.

http://thinkprogress.org/special/2011/10/11/340186/boston-police-throw-american-flag-to-ground-arrest-veterans-trash-property-to-protect-green-space-from-99-percent/

Can you honestly say you see the police throwing the flag to the ground in that video - if I could - I'd be calling for their badges.
 
  • #339
Fallacy 1?

I do not know about you but Everyone I know Tries to accumulate wealth. They DECIDE how hard they want to work both on improving themselves and the situation they are in some peoples full potential is being a janitor and they have the right to be the best janitor they can be. They would be entitled to save and make and get the best possible income that somebody is willing to pay them for the skills they have. It is not the millionaire’s fault that some people need to be janitors.


Again I do not know anyone who uses their abilities to the full potential for free unless it’s at a hobby and they do something else to make a living. But is that really using your abilities to their full potential?

Fallacy 2?
Nobody has to do drugs nobody has to steal nobody has to rape or murder the perception of "no choice" is Bull they made choices to get to that situation.

You have a car with no brakes you know it cannot stop or turn.
The car is facing a cliff 10 miles away not moving.
You hit the gas pedal and hold it down.
The car goes off the cliff.
Yes at the end you did not have a choice but it all started with a choice.
Nobody made you hit the gas

Nobody is forced out of high school nobody is forced to do drugs nobody is forced to rape or steal or kill saying they have no choice is giving them a pass they do not deserve. I have family with addiction problems making it ok is the worst thing you can do for them.

Fallacy 3?
You obviously do not know what a Taking is. Taking is an action by the government not by an individual. This is not "theft" is taking by the authority of the government. This applies to taxes or to regulations that affect economic ability. The most common example is
You own land that your family has harvested lumber off of every 30 years for 5 generations.
The EPA passes a regulation restricting the number of trees and acres you are allowed to harvest.
They have to cut you a check for the lost production or you take them to court for an unjust Taking.

You want to unjustly Tax a minority simply because they have more then you the government cannot single out such a minority legally.

Would you support a tax that was aimed at say Philipino's?

Fallacy 4?
The 99% want other people’s money that they have no right or authority to for nothing other than the fact that they exist. Sounds unlawful to me.

Fallacy 5?

Personally prisoners should not be paid at all while in prison any work they do should go towards the cost of feeding them. They also should not have TV or any other Luxury Item. Jail should suck maybe if it did fewer would choose to break the law.

Fallacy 6?

Nobody has advocated closing public schools. Nobody has advocated letting children starve. Plenty of grants and scholarships exist opportunity abounds. A local tax for local schools is not socialism on the level that is opposed.

The field is not level it will never be level it can't be level unless you want everyone to just sit at home and we all starve to death together. Somebody has to pay.

You do not want a level field you want a field tilted so the rich go extinct and the entire system collapses.
The poor are protected from sudden hardship and short term problems. They should not be supported for eternity or a culture of dependence will/has developed and your system actually encourages "poverty"

Fallacy 7?

Then get your butt off the street and go be productive. Go to the Library read some books they are free learn a new skill they have tons of self taught books and access to computers at public libraries. Those of us who work are already paying for you to have access to those resources. Stop Choosing to do nothing and do something ANYTHING to better yourself and expand your abilities so that you have something somebody else is willing to pay you to do.

I am willing to bet if McDonalds came in and offered everyone at the protest a job only a couple would go.



Offer them all jobs cleaning bedpans at a nursing home see how many come running or the coal mine near here is always hiring? Or is that work to hard
 
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  • #340
JDoolin said:
Socialism means you provide a safety net; education, training, housing, food, basic medical care, so that those who are poor have some way of bettering themselves.

Socialism means you have the government run the economy. Social democracy means you provide a social welfare state. A basic safety net is not socialism, as Adam Smith and Milton Friedman were both okay with basic safety nets. Once a society becomes rich enough, it is fine to use taxes to create a set of basic safety nets. What you don't necessarilly want is an outright welfare state.

Anti-Socialism is Anti Poor.

No it isn't. Take a look at how prosperous all the socialist countries were/are.

To be more explicit, the Tea Party is against this safety net. They demonize public school teachers, they are against basic medical care for the poor, they are against giving housing or food to people who haven't "earned" it.

Again, if you can come up with a good argument against what I am saying, I would LOVE to be wrong about this. If I AM wrong about this, then show me that I am wrong. I would LOVE to find out that somehow the TEA party has been fighting for the same things that the Democratic party has been fighting for, and its just been a matter of miscommunication?

Yes, it is. The Tea Party are not against giving aid to the poor, their belief is that it can be done through things like churches and charity. They also understand that many of these poverty programs either do not fix the problem or only make it worse.

I don't think so, though. Democrats are the party for the people. Republicans are the party for the corporations against the poor.

What this tells me is that, like too many on the Left, you do not have the first clue about what Republicans stand for or what their policies are. There's so much wrong with that statement, I don't even know where to begin. What you said is exactly what the heads of the Democratic party would like you to think, though, even though it isn't true. I could say that the Democrats are the party for enlarging the government and making the people dependent and needy on the government as a result, that they are the party of the labor unions, the trial lawyers, the environmental lobby, and other various left-leaning special interest groups. That they are the party that loves to appeal to people's base emotions, by talking about things such as "fairness," "justice," "equality," pointing out how some are rich while the vast majority are not (appealing to the base emotions of envy and jealousy), etc...not all Democrats are like that, there are plenty of good ones, but too many are.

Your claim about Republicans being for corporations against the poor has to rank as one of the most prevalent myths that exist. Republicans are not for corporations. Republicans are for the free-market, something corporations are notorious for seeking to undermine and undercut. Republicans are also for limited government, low taxation, and light levels of regulation, things many large corporations are also against and historically have been against. The crux of your misconception is the belief that it is government that can fix all of society's problems. Need to fix education? More government. Fix poverty? More government programs. Get more housing to the poor? More government. A corrupt industry needs fixing? More government regulations. Making sure everyone has healthcare? More government. Republicans recognize that not only does government oftentimes not work at fixing these problems, but instead often has a tendency to make them even worse in its attempts at fixing them. Republicans very much care about the plight of the poor, the environment, education, healthcare, etc...but have a whole lot of limited-government to non-governmental solutions to these problems.

People such as yourself who do not have any understanding at all of these limited-govenrment and non-governmental solutions thus reason that since Republicans are against a whole slew of large government you are for, that they therefore must be evil and "don't care."

It's not like its just me that thinks this. I don't really need to support this argument.

Actually, yes you do. You make baseless accusations about Republicans that tell me you don't know anything about their beliefs or policies.

This is THE commonly held belief of Democrats, and Republicans alike.

It is the commonly-held belief among a great many Democrats. Have you ever heard the saying, "When you're young and dumb, if you're not a Democrat, you don't have a heart. When you're over thirty, if you're still a Democrat, you have no brain." Now I don't agree with that statement in terms of what it literally says, but the point of it is that when you are young and haven't a clue about how the world works, if you have a heart, you will likely be a hardcore Democrat. When you learn more about how the world works and thus about other policies (such as Republican policies), you may still be a Democrat, but you will be one that understands the opposition one heck a lot better and probably would be deemed a center-left person as opposed to left-wing.

Watch some Rachel Maddow, Keith Olberman, Bill Mahr. You'll see over and over and over again, the same story. Democrats trying to defend the poor. Republicans trying to defend the rich.

First of all, all of those people are among the most leftwing commentators in the media. Your definition of Democrats "defending" the poor often comes out to their trying to appeal to the base emotions of the masses to engender jealousy and rage, to engage in class warfare. The basic strategy of the politician that promises to rob Peter to pay Paul can always depend upon the support of Paul. Republicans, when they "defend" the rich, are usually just forced into pointing out where the Democrats are wrong on many issues, such as the notion that there's a fixed pie (the idea that for one guy to get rich, someone else has to become poorer), or that it's the fault of the wealthy that the economy came down, or arguing against wealth redistributionist policies, etc...

That's why I say, make your argument, and make it well. Because even if you can convince me that the Tea Party is not anti-poor, you need to make the argument for Rachel Maddow, Keith Olberman, Bill Mahr, Jon Stewart, Stephen Colbert, and everybody that watches those shows.

I would say that every single one of those people is to a good deal clueless about the conservative and Republican positions on issues. Not all on the Left are, but a lot, and in particular those ones. As for the people that watch their shows, they IMO have no business even voting if they get all of their information on politics and policy off of those shows. That's like a right-leaning person getting all of their information from Rush Limbaugh and Sean Hannity.
 
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  • #341
CAC1001 said:
Republicans are for the free-market, something corporations are notorious for seeking to undermine and undercut. Republicans are also for limited government, low taxation, and light levels of regulation, things many large corporations are also against and historically have been against. The crux of your misconception is the belief that it is government that can fix all of society's problems. Need to fix education? More government. Fix poverty? More government programs. Get more housing to the poor? More government. A corrupt industry needs fixing? More government regulations. Making sure everyone has healthcare? More government. Republicans recognize that not only does government oftentimes not work at fixing these problems, but instead often has a tendency to make them even worse in its attempts at fixing them. Republicans very much care about the plight of the poor, the environment, education, healthcare, etc...but have a whole lot of limited-government to non-governmental solutions to these problems.

The problem is that in this moment in history, the facts prove you wrong. My social democracy needed to blow 15% GDP on fixing the holes your liberal economy left behind, another few procents on the PIIGS, and the northern european states are still running.

Not only don't you fail to provide what welfare states can give to your people under the assumption that 'it cannot work,' you are also provably wrong given the facts, and blowing holes into my economy.
 
  • #342
WhoWee said:
Can you honestly say you see the police throwing the flag to the ground in that video - if I could - I'd be calling for their badges.

There were many people there who did see it?? How do you tjhink the police would get the person's hands behind his back and put on the zip ties if they didn't take control of the flag??

If it fell out of the veterans hands they should have picked it up. I am done here.
 
  • #343
JDoolin said:
I would almost guarantee that if somebody went out and started handing out jobs to those kids, (especially if they were jobs to help others) they would disperse. But right now, they are using their other freedom you mentioned, "the freedom to amass," in order to make their presence clear.

WhoWee said:
Supported - Robert Daros, FL - my bold.

http://www.mediaite.com/online/repo...till-trying-to-figure-out-what-they’re-doing/

"At the top of the park, I found Robert Daros, from Florida, sitting in a chair behind a table with a sign that said, “info.” Originally from Florida, he saw a poster in a café and wanted to participate. So he quit his job and came to the park. He, like everyone else who is taking part in the Occupy Wall Street protests, is still trying to figure out how to successfully organize."

I said a "few" - here's a second - Casey O'Neill, Oakland, CA.
http://www.npr.org/2011/09/27/140854961/wall-street-protest-continues-this-week
"ARUN VENUGOPAL: Until a couple weeks ago, 34-year-old Casey O'Neill worked as a data manager in Oakland, California. Now, he lives in a park next to ground zero.

CASEY O'NEILL: I actually quit my job and got a one-way ticket out here for the protests. I just felt like it was really - in a lot ways, this was the last hope for some sort of real change."

Actually, it seems they're leaving their jobs to join this protest. Kids or not.
 
  • #344
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  • #345
CAC1001 said:
Republicans are not for corporations. Republicans are for the free-market, something corporations are notorious for seeking to undermine and undercut. Republicans are also for limited government, low taxation, and light levels of regulation, things many large corporations are also against and historically have been against. The crux of your misconception is the belief that it is government that can fix all of society's problems. Need to fix education? More government. Fix poverty? More government programs. Get more housing to the poor? More government. A corrupt industry needs fixing? More government regulations. Making sure everyone has healthcare? More government. Republicans recognize that not only does government oftentimes not work at fixing these problems, but instead often has a tendency to make them even worse in its attempts at fixing them. Republicans very much care about the plight of the poor, the environment, education, healthcare, etc...but have a whole lot of limited-government to non-governmental solutions to these problems.

MarcoD said:
The problem is that in this moment in history, the facts prove you wrong. My social democracy needed to blow 15% GDP on fixing the holes your liberal economy left behind, another few procents on the PIIGS, and the northern european states are still running.

Not only don't you fail to provide what welfare states can give to your people under the assumption that 'it cannot work,' you are also provably wrong given the facts, and blowing holes into my economy.

MarcoD, I'm not sure if this was meant as a satirical response, or not; sometimes those things don't come through on the internet. A social democracy usually leads to a liberal economy.

Either way, you're still confusing extremes. A welfare state CAN'T work, by definition, because there's no work being done. Welfare provided by the state, is a good bridge that helps folks experiencing a maelstrom of financial problems recover and rejoin the economy. You certainly wouldn't want to make it so that someone could survive without contributing to society otherwise you'd have no society to pay for the non-contributors!

Either way, what facts are you constantly referring to?

EDIT: There seem to be a lot of straw-men belonging to the Republican party here. I don't know any "anti-poor" Republicans, but I know plenty that prefer non-governmental ways of aiding the poor. On the flip side, it seems that every Democrat I know does fall into the stereotype of wanting the government to fix society's ills.
 
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  • #346
CAC1001 said:
JDoolin, start with these:wink: (and not saying you will agree with them 100%, but just pointing out that there is a whole different universe of thinking on these issues)



http://www.youtube.com/watch?v=Rls8H6MktrA&feature=related


Friedman's analysis of minimum wage has never been more applicable than today - unskilled and uneducated people have been priced out of the market - IMO.
 
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  • #347
WhoWee said:
Friedman's analysis of minimum wage has never been more applicable than today - unskilled and uneducated people have been priced out of the market - IMO.

It's SO true. And everyone thinks the repsonse is to raise the minimum wage. Every time I hear someone talk about raising the minimum wage, I cringe. It shows a fundamental lack of understanding about how an economy actually functions.

You'd think people would listen to him considering he's a danged Nobel Laureate.
 
  • #348
MarcoD said:
The problem is that in this moment in history, the facts prove you wrong. My social democracy needed to blow 15% GDP on fixing the holes your liberal economy left behind, another few procents on the PIIGS, and the northern european states are still running.

When you say liberal, I am assuming you mean the classical definition of it...? Because here in America, a person would interpret that as meaning a left-leaning economy. I would disagree with you. Part of what engendered this whole problem in the first place was the government trying to get everyone a home, something the other countries did not try to do. It ended up blowing up in our faces. As the economist Raghuram Rajan has said, "The problem, as often is the case with government policies, was not intent. It rarely is. But when lots of easy money pushed by a deep-pocketed government comes into contact with the profit motive of a sophisticated, competitive, and amoral financial sector, matters get taken far beyond the government's intent" (http://www.project-syndicate.org/commentary/rajan7/English).

Not only don't you fail to provide what welfare states can give to your people under the assumption that 'it cannot work,' you are also provably wrong given the facts, and blowing holes into my economy.

There are a variety of books on the problems caused by a welfare state. One simple aspect though is that if you pay people not to work, they won't. You thus end up with generations on welfare. That's a bad thing if it is structured like that. Don't get me wrong, I am not saying all government programs to help people are bad, but that a great many of them will do the opposite of what they were meant to do.
 
  • #349
FlexGunship said:
You'd think people would listen to him considering he's a danged Nobel Laureate.

Well in fairness, being a Nobel Laureate as an economist doesn't make one right on the issues. Paul Krugman is a Nobel Laureate, so is Joseph Stiglitz, and I disagree with them almost all the time (although Krugman's Nobel is for his work in trade economics, not macroeconomics). One thing that makes the unemployment rate in large cities even worse is that in addition to a lot of states having their own minimum wage laws that are higher than the national minimum wage, some big cities have their own "living wage" laws, which are even higher! Friedman was probably the greatest research economist of the 20th century though and made some major contributions (his biggest I think being to recognize that socialism wasn't the way to go, a view that made many view him as radical at the time).

A wealthy economy can withstand a minimum wage in good times and still maintain full employment, but after a point, the laws of economics kick in, and the unemployment rate will go up. Same as you can increase the tax on gasoline and people will continue to use the same, but raise the tax too much and demand changes; what is interesting is most on the left understand the economics perfectly regarding something like gasoline but so many misunderstand it completely when it comes to employment. Ironically, one of the first things Nancy Pelosi and the Democrats did upon taking control of the Congress in 2006, was to raise the national minimum wage.

FlexGunship said:
MarcoD, I'm not sure if this was meant as a satirical response, or not; sometimes those things don't come through on the internet. A social democracy usually leads to a liberal economy.

The impression I got was MarcoD is from a European country, and in Europe, if you announce, "I'm a liberal!" people interpret that as what in America would be thought of as a right-winger.
 
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  • #350
CAC1001 said:
Well in fairness, being a Nobel Laureate as an economist doesn't make one right on the issues.

Nope, but it makes one worth listening to. More people know who "Snooki" is than Milton Friedman.
 
  • #351
gravenewworld said:
http://research.stlouisfed.org/publications/es/09/ES0910.pdfOf course it is contrary to Republican orthodoxy of always wanting less regulation.

Honkapohja (2009) cites deregulation of the financial
system in the 1980s as the root of both the economic downturn and the financial crisis.3
That reference is about the Nordic countries and their banking problems in the 1990s. Footnote #3 from the St Louis Fed article also states an alternative view even for the Nordic banking issues:
3 While noting the correlation between deregulation and the crisis, Drees and
Pazarbaşioğlu (1998) place more weight on deteriorating macroeconomic conditions,
declines in income (particularly oil, in the case of Norway, but also in the
terms of trade for commodity exporters such as Sweden), and depressed asset
markets.
 
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  • #352
FlexGunship said:
Nope, but it makes one worth listening to. More people know who "Snooki" is than Milton Friedman.

It might be worth noting Friedman was awarded in 1976(?) - Krugman was 2008. Given their (IMO) premature award to President Obama in 2009 - I have to wonder if the standards haven't changed?http://www.nobelprize.org/nobel_prizes/peace/laureates/2009/press.html
 
  • #353
WhoWee said:
It might be worth noting Friedman was awarded in 1976(?) - Krugman was 2008. Given their (IMO) premature award to President Obama in 2009 - I have to wonder if the standards haven't changed?http://www.nobelprize.org/nobel_prizes/peace/laureates/2009/press.html

Are you suggesting that the Nobel prize committee has become pro-big-government over time? Don't be ridiculous... if there was a major global economic shift towards big-government tendencies in recent years, then I'm sure we'd see some sort of global economic collapse.

:-p
 
  • #354
FlexGunship said:
Nope, but it makes one worth listening to.
Makes them worth listening to in their area of expertise, and even then only in scholarly articles for subjects with a sharp political bent. On the subjects such as the "treason" of climate change skeptics or 911 "fake" hero's, these guys are just bloggers, often flirting with crack-pottery.
 
  • #355
mheslep said:
Makes them worth listening to in their area of expertise, and even then only in scholarly articles for subjects with a sharp political bent. On the subjects such as the "treason" of climate change skeptics or 911 "fake" hero's, these guys are just bloggers, often flirting with crack-pottery.

I'm afraid I might have missed your point. Are there Nobel Laureates that claim either of these things?
 
  • #356
FlexGunship said:
It's really quite an absurd mentality, you know, to just walk away from your responsibilities on a whim.

EDIT: Again, don't jump down my throat with the: "maybe they're just doing what they believe in!" I get it! It doesn't make it responsible behavior. And the idea that they would exercise IRRESPONSIBLE behavior to protest IRRESPONSIBLE behavior is ironic beyond expression.

Why does quitting your job make it irresponsible? Perhaps they don't NEED to work, and only work becasue they want to (or don't now I suppose). Yes, it might be irresponsible, but it also might not.
 
  • #357
FlexGunship said:
Nope, but it makes one worth listening to. More people know who "Snooki" is than Milton Friedman.

To be fair, I only know who Snooki is from the "It's a Jersey Thing" episode of South Park:-p
 
  • #358
CAC1001 said:
When you say liberal, I am assuming you mean the classical definition of it...? Because here in America, a person would interpret that as meaning a left-leaning economy. I would disagree with you. Part of what engendered this whole problem in the first place was the government trying to get everyone a home, something the other countries did not try to do. It ended up blowing up in our faces. As the economist Raghuram Rajan has said, "The problem, as often is the case with government policies, was not intent. It rarely is. But when lots of easy money pushed by a deep-pocketed government comes into contact with the profit motive of a sophisticated, competitive, and amoral financial sector, matters get taken far beyond the government's intent" (http://www.project-syndicate.org/commentary/rajan7/English).

No I agree with that sentiment. But the problem was implementing a neoliberal solution to home ownership; i.e., milling debt around instead of implementing taxes to go on home stimulation programs - which a lot of economies in Europe do. (Btw, yeah, in Europe liberal ~ right-wing ~ US republican.)

There are a variety of books on the problems caused by a welfare state. One simple aspect though is that if you pay people not to work, they won't. You thus end up with generations on welfare. That's a bad thing if it is structured like that. Don't get me wrong, I am not saying all government programs to help people are bad, but that a great many of them will do the opposite of what they were meant to do.

Which is again the same problem. [I am pretty sure that] 99.99% of economic books you read in the US are neoliberal interpretations of what happened, there are no unorthodox interpretations. As they say: Economists are only good at predicting the past, and even that they do badly.
 
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  • #359
daveb said:
Why does quitting your job make it irresponsible? Perhaps they don't NEED to work, and only work becasue they want to (or don't now I suppose). Yes, it might be irresponsible, but it also might not.

my bold
http://jobs.aol.com/articles/2011/10/07/occupy-wall-street-protesters-dont-quit-their-day-jobs/

"These committees, which have attracted the support of many new to political organizing, are also counting on the support of protesters who prioritize activism over professional obligations. Indeed, many of the protesters point to the national unemployment rate of 9.1 percent as a motivation for their commitment. But they also say that their unemployment enables them to take part. After working for 10 years helping sell books for Avery Publishing on topics related to holistic health, 48-year Richard Degen was laid off during the Great Recession. He now lives off disability in a low-rent building on Pitt Street in Manhattan."
 
  • #360
FlexGunship said:
Either way, you're still confusing extremes. A welfare state CAN'T work, by definition, because there's no work being done.

That's nice. But doesn't explain Sweden.

Considering facts, I suppose if you want proof of stuff, just ask. A lot of stuff is just well-known, sometimes has a different interpretation, so it doesn't really make sense to post every little detail. If we disagree, then I suggest you ask.
 

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