Quote:
Originally Posted by roachboy
of course supply side is bullshit. it's been bullshit from the outset.
milty freidman's theories of magickal wealth creation are nonsense.
and they aren't relevant to this thread.
the problem that's unfolding in the eu across the greek crisis---which is connected to the move in germany that the thread is actually about---is in significant measure a *political* crisis to do with the collapsing status of neo-liberal ideology. functionaries of the new class war cannot expect words like "necessary cuts" in the name of some imaginary "fiscal responsibility" to hold. the imf is the quintessential neo-liberal organization. it's primary function has been to generate socio-economic crisis in the southern hemisphere since the 1970s in the interest of softening up space for the expansion of neo-colonial economic relations---you know, what we in the metropole call "globalization"---the idea that the imf has suddenly reverted to its bretton woods function (and somehow jettisoned an entire staff of expert engineers of crisis) is laughable. at the same time, that there is no overarching governor (in the motor sense) that is able to act meaningfully to address structural problems is worrying. that's what we're watching happen.
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You consistently describe what you see as the problem, but never offer a specific thought on any solutions. What are you saying, end neo-liberal policy and replace it with what? And if you ever take the time to understand what I write you would know my view is the murky middle or hybrid systems and solutions are generally the most problematic, but that no one system or ideology is perfect.
---------- Post added at 03:32 PM ---------- Previous post was at 03:25 PM ----------
Quote:
Originally Posted by Baraka_Guru
No. My response was to your suggestion that wealth creation can occur without consumption being a part of the equation.
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A single person stranded on an island can have what I consider "wealth". This person's wealth can be increased without consumption. I measure wealth by living standards, not by a measurement of fiat money. With that as a basis, extending the concepts to communities, nations and the world the same principles apply.
I thought I also made clear that real wealth creation can certainly lead to increased consumption, but that the real wealth creation occurs first. Do you insist on taking the position that consumption or demand drives real wealth creation? If so, give examples in history when this has been true.