No Taxes!
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This Side Towards Enemy
Member # 147
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written Saturday, May 3 2003 13:34
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The Puritan work ethic is, as far as I can see, mostly a British things (which makes sense- the Puritans were an Anglican sect.) Although it also seems to be present in some parts of Northern Europe, so I suppose it's more of a 'Protestant' work ethic. Although some of the laziest people I know are those who are still Protestant. I'm one of them. Posts: 1000 | Registered: Thursday, October 11 2001 07:00 |
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Fire! Fire! Fire! Fire!
Member # 919
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written Saturday, May 3 2003 14:34
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Of course it's a good thing to treat your employees well, Alec... I don't think anyone would argue that... or at least I hope no one would... but anyway, that doesn't mean capitalism sucks. At all. -------------------- And though the musicians would die, the music would live on in the imaginations of all who heard it. -The Last Pendragon TEH CONSPIRACY IZ ALL Les forum de la chance. In case of emergency, break glass. Posts: 3351 | Registered: Saturday, April 6 2002 08:00 |
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Member # 165
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written Saturday, May 3 2003 14:44
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Laissez-faire capitalism disagrees with state standards for labor. -------------------- desperance -- je me souviens arena -- et je me souviens de vous Posts: 2449 | Registered: Monday, October 15 2001 07:00 |
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Infiltrator
Member # 1823
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written Sunday, May 4 2003 00:31
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Laissez faire capitalism will give everyone good jobs. That is, of course, if everyone can go wherever they like in the world at anytime, and they have an infinite amount of time to look round the world, and they have an infinite amount of patience and are omniscient. -------------------- Riot Shields Voodoo Economics It's just business Cattle prods And the IMF I trust I can rely on your vote Posts: 530 | Registered: Sunday, September 1 2002 07:00 |
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Lifecrafter
Member # 87
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written Monday, May 19 2003 12:31
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so sorry about not posting this on april 15, i originally planned to, but life got in the way. I meant, the government would spend money without taking any in. I know you can't do that, it leads to inflation. but what if you did do that, on a controlled basis. instead of having an income tax, there would be a de facto tax on all currency issued by said govmnt. ( someone else may have said this already, I havent read all the posts) Therefore all monies ever earned would be taxed, which might discourage savings, but would encourage spending... that is what i meant. (sorry about not coming back earlier either, life getting in the way again.) -------------------- Tip of the Day: #13 Stand clear the closing door. That's treason. (THNIK)(Peculiar James, FP productions co, inc) Posts: 816 | Registered: Friday, October 5 2001 07:00 |
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For Carnage, Apply Within
Member # 95
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written Monday, May 19 2003 13:58
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That's been tried before. The problem is that it's a downward spiral, and will always get out of control eventually. Also, if nobody saves money (and nobody will under this system), they'll be no money avaliable for investment, which pretty much obliterates economic growth. -------------------- We were once Mao Posts: 567 | Registered: Friday, October 5 2001 07:00 |
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Infiltrator
Member # 2669
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written Monday, May 19 2003 14:24
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But, isn't the US gov't doing this exact thing right now, and has been for a while? The US prints way more money than they have the economic wherewithal to back. Lucky for them, the US $ is the preferred currency for oil trading, so that huge sums of currency get shuffled around the globe without ever coming home to roost. Again, there are theories that the war on Iraq was necessary because Iraq had switched to the Euro for oil trading, which had serious potential to destabilized the dollar and hence the whole US economy. -------------------- ... Posts: 647 | Registered: Wednesday, February 19 2003 08:00 |
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For Carnage, Apply Within
Member # 95
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written Tuesday, May 20 2003 11:29
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Well, that's partly true, but as long as the growth in the money supply stays even with economic growth, inflation should be zero. In practice, inflation still exists because the government still increases the money supply faster than the economy grows, but not nearly so severely as in the hyperinflation cases of the past century. As for the Iraq bit, I hadn't heard that. I'll be sure to incorporate it into my all-encompassing conspiracy theory. -------------------- We were once Mao Posts: 567 | Registered: Friday, October 5 2001 07:00 |
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Infiltrator
Member # 1823
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written Wednesday, May 21 2003 10:20
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quote:A growth in the money supply will cause growth, as long as there is not full capacity. Along with this growth will be healthy inflation. However, at full capacity, or with very low suplly, just inflation will result. -------------------- Riot Shields Voodoo Economics It's just business Cattle prods And the IMF I trust I can rely on your vote Posts: 530 | Registered: Sunday, September 1 2002 07:00 |
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Shock Trooper
Member # 1814
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written Wednesday, May 21 2003 10:41
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Someone tell me if I'm wrong because I don't want to go through life with a bad idea. I think that a large problem is that most of the money in America belongs to rich people and corporations. The wealth needs to be redistributed or something. Another large problem is that many American factory jobs have been put in China and other places to be made in places where people get paid practically nothing to do the work that Americans should be paid a fair amount to do. This makes corporations richer and increases unemployment. -------------------- The great light bulb converses its thoughts in a fashion most particular to its complicated nature. Posts: 215 | Registered: Friday, August 30 2002 07:00 |
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Law Bringer
Member # 335
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written Wednesday, May 21 2003 11:28
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Yes, the unequal distribution of wealth is a problem, but simply taking money from the rich and giving to the poor is an unworkable solution. I'd say the best way to close the wealth gap is to increase taxes, especially on high brackets, and put that money into social services. After all, America and Western Europe have enough resources to support all their citizens, and money isn't inherently necessary. By the same token, the problem isn't that companies employ sweatshop labor in Third World countries and cut Americans out of jobs. The problem is that Americans need the money from those jobs desperately because it's far too difficult to survive even when you are employed in a minimum-wage job, let alone jobless. Again, this isn't necessary. —Alorael, who would call the exploitation of the Third World a problem more for human rights abuses than for economic reasons. Companies paying pathetic wages for grueling work don't need the better profit margin, and there are better ways to bring money into impoverished countries and areas. Posts: 14579 | Registered: Saturday, December 1 2001 08:00 |
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For Carnage, Apply Within
Member # 95
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written Wednesday, May 21 2003 13:18
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quote:I disagree, but that depends what economic school of thought you identify with. If the economy and the money supply grow at the same rate, zero inflation should result (if there's 3% more to buy than last year and 3% more money, then the value of money shouldn't decline). Most economic theories dictate that the money supply does little to contribute to overall growth (Friedman and the monetarists are a big exception), and it definitely takes more than just more money to stimulate economic growth. "Full capacity" is a dangerous term to use. Keynesian economic theory may dictate that such a point exists, but defining it has proven tricky. During the Reagan and Bush I years, full employment was thought to be in the 6-8% range, and anything lower impossible to achieve without causing hyperinflation. The 90s disproved this thoroughly: unemployment was in the 4-6% range for years while inflation actually went down. In some future economic boom, we may go lower still, and disprove the idea of 4% full employment. -------------------- We were once Mao Posts: 567 | Registered: Friday, October 5 2001 07:00 |
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Infiltrator
Member # 2669
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written Wednesday, May 21 2003 14:53
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I actually don't think that the relocation overseas of cheap factory jobs is such a terrible thing. It promotes economic growth in previously underdeveloped/destitute areas. You could hold up Singapore as a showcase example of this. The big problem, however, are the conditions that are prevalent in those factories, as they are often in countries with little or no labor laws. But even to some, slaving away 10 hours a day in a stifling factory for pennies beats digging for roots in the forest. -------------------- ... Posts: 647 | Registered: Wednesday, February 19 2003 08:00 |
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Infiltrator
Member # 1823
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written Thursday, May 22 2003 07:24
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quote:A higher money supply, by, for example lowering interest rates, will result in people having a higher disposable income. They will then consume more. As consumption is a component of aggregate demand, demand will increase. As such, growth will happen, along with inflation. On the point of full capacity. My point was just to point out what would theoretically happen at that point, whereas of course nearly all economies operate at a point slightly below capacity, meaning that both price level and GDP will be affected by demand. -------------------- Riot Shields Voodoo Economics It's just business Cattle prods And the IMF I trust I can rely on your vote Posts: 530 | Registered: Sunday, September 1 2002 07:00 |
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This Side Towards Enemy
Member # 147
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written Thursday, May 22 2003 12:37
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Singapore is not a good example. Singapore and South Korea base their economic strength on strict economic controls and government subsidies. Other countries just liberalise their markets to get money from the IMF. Posts: 1000 | Registered: Thursday, October 11 2001 07:00 |
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Infiltrator
Member # 2669
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written Thursday, May 22 2003 13:36
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I was referring to where Singapore got its start, not its current status. -------------------- ... Posts: 647 | Registered: Wednesday, February 19 2003 08:00 |