tag:blogger.com,1999:blog-4900303239154048192.post6747310019289623924..comments2024-03-06T06:34:42.881-05:00Comments on EconoSpeak: How does a fiscal stimulus work these days?Unknownnoreply@blogger.comBlogger5125tag:blogger.com,1999:blog-4900303239154048192.post-85866990319515904202011-07-11T11:32:41.109-04:002011-07-11T11:32:41.109-04:00Home production and local currencies is a means by...Home production and local currencies is a means by which production can be moved back to where it belongs - within our communities.<br /><br />No matter in which time in history we live it has always been true that the most productive, thriftiest households fare much better than others. <br /><br />The 'consumer economy' has always been a mirage for the great majority. Because basic needs of the mass of people continued to go unmet.Myrtle Blackwoodhttps://www.blogger.com/profile/07427043367624101075noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-42494864467467908522011-07-09T12:30:32.583-04:002011-07-09T12:30:32.583-04:00Much more of the "profits" from consolid...Much more of the "profits" from consolidation should be redistributed to those who have been (due to the consolidation) denied the opportunity to contribute to the common good. This is best accomplished with a high degree of social insurance funded by a highly progressive income tax. But that mechanism is destroyed when the production moves outside of the tax jurisdiction. And this is where tariffs and exchange rates must enter the political economy.TheTruckerhttps://www.blogger.com/profile/10346127768102862741noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-89085029174687731072011-07-09T11:30:30.964-04:002011-07-09T11:30:30.964-04:00Ralph,
Re: "Can’t for the life of me see why ...Ralph,<br />Re: "Can’t for the life of me see why less locally produced stuff is a problem..."<br /><br />Peak oil will pose real problems for production at a distance.<br /><br />Re: "the number of jobs created by $X of demand for bread and beer is exactly the same..."<br /><br />The number of jobs created would not appear to be the same if the economy is structured so that spent wealth is almost immediately siphoned off out of the local community and also directed to a small minority who control the means of production.<br /><br />Re: "the fact that stuff is made at a greater distance does not of itself mean that profits take a higher proportion of GDP."<br /><br />Perhaps my expression has been a bit tardy and hasn't elaborated enough on the consequences of the concentration of productive wealth. It's not merely about distance (as mentioned above)Myrtle Blackwoodhttps://www.blogger.com/profile/07427043367624101075noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-69436966831350266512011-07-09T11:04:07.591-04:002011-07-09T11:04:07.591-04:00Can’t for the life of me see why less locally prod...Can’t for the life of me see why less locally produced stuff is a problem. If bread, beer, etc etc is made 50 miles away rather than one mile away, the number of jobs created by $X of demand for bread and beer is exactly the same (assuming for the sake of simplicity that productivity in the more distant bakery / brewery is the same as in the local one).<br /><br />Re the final paragraph of the above article, the fact that stuff is made at a greater distance does not of itself mean that profits take a higher proportion of GDP. The trend towards “production at a distance” has been taking place gradually for the last century or more, while the share of GDP taken by profits bobs up and down. Profits are high at the moment, but for reasons other than “production at a distance.”Ralph Musgravehttps://www.blogger.com/profile/09443857766263185665noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-21890073540540748192011-07-09T10:13:47.904-04:002011-07-09T10:13:47.904-04:00Dr. Steve Auerbach comments on the nature of the r...Dr. Steve Auerbach comments on the nature of the recent 'recovery' quoting the following:<br /><br /><br />"Between the second quarter of 2009 and the fourth quarter of 2010, real national income in the U.S. increased by $528 billion. Pre-tax corporate profits by themselves had increased by $464 billion while aggregate real wages and salaries rose by only $7 billion or only .1%. Over this six quarter period, corporate profits captured 88% of the growth in real national income while aggregate wages and salaries accounted for only slightly more than 1% of the growth in real national income. The extraordinarily high share of national income (88%) received by corporate profits was by far the highest in the past five recoveries from national recessions."<br /><br />See:<br />http://www.clms.neu.edu/publication/documents/Revised_Corporate_Report_May_27th.pdf<br /><br />http://economix.blogs.nytimes.com/2011/06/30/the-wageless-profitable-recovery/<br /><br />http://motherjones.com/kevin-drum/2011/06/winners-and-losers-great-recession<br /><br />[Taken from the comments section of: <br />Net Lending By Domestic Business. Paul Krugman<br />July 2, 2011, 4:18 pm<br />http://krugman.blogs.nytimes.com/2011/07/02/net-lending-by-domestic-business/Myrtle Blackwoodhttps://www.blogger.com/profile/07427043367624101075noreply@blogger.com