Friday, April 8, 2011

The Reason There is Poverty

Is because too many jobs don't pay a living wage.

We can't all be lawyers, and if we were - well, a society needs tradespeople and custodians regardless.

It's why I remain unconvinced by the 'education is the answer' folks. What works for one person doesn't work for the whole. Focusing on the individual is a way to avoid dealing with macro policy issues that require planning, execution, and work.

But looting is so much easier and fun.


The Arthurian said...

Yeah. 'Education is the answer' is a joke.

Macro is my life. Before the "planning, execution, and work" I think there is one other step: Evaluate Assumptions.

Assumptions like "printing money causes inflation (but using credit doesn't)."

Assumptions like "we need more credit for growth (even if we have so much credit in use already that we can no longer afford our debt)."

Assumptions like "government debt is a problem (but private-sector debt isn't)."

All their planning and execution since the 1970s has failed to fix the economy, because it is all based on badly flawed assumptions.


Jazzbumpa said...

Where did I read this -- Brave New World? Something along the lines that if everybody is a class A intellect, who's going to clean fish?

All the breeding - done in vitrio, BTW - was with class A genetic material - the poisoned a fixed percentage with alcohol to stunt the intellect.

I think a robust economy must be based on value added activities - largely manufacturing. Servics have their place, but cannot be the cornerstones.