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Geronimo
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st cloud USA
Jan 1970 time: 05:35
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quote: Originally posted by Imran Siddiqui
quote: THIS IS ABOUT A RISE IN POVERTY. ADD TO THAT THAT ACCORDING TO THE AMDINISTRATION THE RECESSION ENDED IN 2001 AND SINCE 2002 THE ECONOMY "HAS TURNED A CORNER" THANKS TO HIS TAX CUTS. |
The economy has 'turned a corner'. Look at GDP growth rates. Poverty numbers are irrelevant. |
No. What good is even astronomically huge economic growth if poverty is increasing? A healthy growing economy should never lead to an increase in poverty unless the economy isn't doing it's job. Economic growth is a means to an end not an end in and of itself. At the very least we should try to determine why the poverty is increasing and see if any policies may be aggravating that cause.
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NeOmega
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Play Pentagenesis Beta!
Feb 2002 time: 21:35
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quote: Originally posted by Agathon
Violence, poverty, lack of decent education.
Come walk around downtown Toronto in the middle of the night and you'll see what I mean. It's by far the safest city I've ever lived in. |
Violence, poverty, and lack of decent education are all overblown by American media and politicians.
I have walked around downtown Seattle in the middle of the night, and very early morning plenty of times. Never had a problem, ever.
I have walked around the Oakland ghetto before as well... nothing.
Americans are actually very well educated, and people still send thier kids here to learn.
Poverty? Nobody in America has to starve, or be homeless. It is choice if they are in these situations. I worked at McDonalds full time for 13 months, and had a car, a place to call home, and the other half was purely spending money.
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MRT144
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Seattle Washington
Oct 2002 time: 21:35
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i was doing some math about a monthly budget and i cant work for less than 13 dollars an hour working 40 a week to survive. of course a job like mcdonalds isnt going to pay that.
as for downtown seattle, its alright. still too many drug dealers around belltown and pioneer square for my liking.
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MRT144
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Seattle Washington
Oct 2002 time: 21:35
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agathon, people can go, its just a matter of coming up with student loans to do it. the problem i see is you shouldnt force yourself to go into debt just to learn.
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Geronimo
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st cloud USA
Jan 1970 time: 05:35
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quote: Originally posted by Imran Siddiqui
quote: What good is even astronomically huge economic growth if poverty is increasing? |
When poverty increases by small levels and economic growth is 'astronomically huge' then a Hell of a lot of good. |
No that would suck. If the percentage of people living in misery is increasing while abstract quantities of 'wealth' are increasing even more big deal. There is a point of diminishing returns on wealth. I'm going to derive a lot less satisfaction from the extra 100k that might get added on to my existing 100k income than the satisfaction I would lose losing 10k from a pissant 30k income. What the hell good is economic growth in the presence of increased human misery and a much smaller increase in our luxery?
I value economic growth because as a rule with few if any exceptions I perceive that it lifts everybodys boats much faster on average than could ever be done with a stagnant economy but it would be useless if it lifted boats of those already way the hell out of harms way while more people started drowning.
Here's another thought experiment to show that decreases in poverty are much closer to being the real ultimate end while economic growth is just another means to that end.
Suppose god appeared and offered to cast a spell that would magically ensure that every year the economy would grow by 100% while fraction of people living in poverty would increase by one percent each year forever (asymtopically so that you might have 50% poverty then 50.5% not 50% then 51%) and rounding down the nearest person. Sure you'll never have a country that is completely in poverty but eventually you'd have just one person not living in poverty and all economic growth would accrue to that one person. At that point you wouldn't even have the growth in poverty anymore just the 100% annual economic growth. And yet I don't think anybody would find such an economy desirable. precisely because economic growth is merely a means to an end.
Last edited by Geronimo on 27-08-2004 at 07:48
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Geronimo
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st cloud USA
Jan 1970 time: 05:35
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quote: Originally posted by Imran Siddiqui
And my point is also that a minor increase in poverty is not that bad when there is astronomical growth. More people benefit from that growth than lose out by being in poverty. |
Well, I think that trend would still suck if it was ongoing and longterm. If poverty were to increase year by year over a period of time longer than typical economic cycles i would no longer care how much the middle and upper classes bennefited. The only way I might find such a situation acceptable would be if the economic growth appeared to be driving increased rates of research that should reverse the trend at some point in the future.
Judging from your posts I think we may still disgree on the concept of diminishing returns on wealth. That is to say if a middle or upper class income is doubled it will pretty much always lead to a lesser increase in real standard of living than if an impoverished persons income is doubled even though by definition this would be a lesser absolute economic increase in every case. Do we disagree on this idea?
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Jon Miller
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it is terrible though if it is continued
you end up with another noble class
Jon Miller
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