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Seattle Bubble Forum Archive • View topic - How Did Economists Get It So Wrong?

How Did Economists Get It So Wrong?

How will housing affect the US and world economy? How will the economy affect housing?

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Re: How Did Economists Get It So Wrong?

Postby Dave0 » Sat Sep 12, 2009 2:05 pm

Jon - socailism does not equal communism. Your reference to socialism in China and Russia show that you do not understand this point. Communism is a theorical idea of an economy that has evolved past money. China and Russia tried to reach Communism swiftly and failed as a result. Socialism is simply where corporate profits go to the many rather than to the few (i.e. the rich). The real world attempt at this is having those profits go to the government, since the government is a representation for the many.
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Re: How Did Economists Get It So Wrong?

Postby jon » Sat Sep 12, 2009 2:08 pm

Communism is simply when socialism is imposed by militaristic expansion. Theoretical communism is of interest only to other communists.
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Re: How Did Economists Get It So Wrong?

Postby Dave0 » Sat Sep 12, 2009 2:25 pm

regarding competition, socialism and competition are not necessarily mutually exclusive. A good example is airplane manufacturers. Airbus is owned by many European countries. Boeing you could also argue is subsidized by the USA government through military spending. Both have socialistic tenancies, yet there is still fierce competition among the two to put out a better product than the other.

Another example is schools. Many schools are public, government owned schools, yet they have to compete with other private schools that still exist.

Many of the companies around these days are so large and multinational that it wouldn't much different if they were just multiple governments competing against each other. A world where there was the USA owned auto manufacturer competing against the Japanese owned auto manufacturer competing against the South Korean auto manufacturer competing against a German manufacturer, wouldn't be much different from GM competing against Toyota competing against Kia competing against Volkswagen.

Also, who's to say that one government can't have multiple divisions created to compete against each other, or have municipal governments compete against each other and the federal government.

There are many ways to have socialism while still having competition.
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Re: How Did Economists Get It So Wrong?

Postby jon » Sat Sep 12, 2009 6:09 pm

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Re: How Did Economists Get It So Wrong?

Postby Markor » Sat Sep 12, 2009 8:46 pm

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Re: How Did Economists Get It So Wrong?

Postby jon » Sat Sep 12, 2009 9:40 pm

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Re: How Did Economists Get It So Wrong?

Postby Markor » Sat Sep 12, 2009 11:30 pm

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Re: How Did Economists Get It So Wrong?

Postby jon » Sun Sep 13, 2009 7:59 am

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Re: How Did Economists Get It So Wrong?

Postby Markor » Sun Sep 13, 2009 4:39 pm

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Re: How Did Economists Get It So Wrong?

Postby jon » Sun Sep 13, 2009 6:08 pm

I can't tell where that data came from, so it is meaningless.

Here is a source that explains it numbers.

http://www.economist.com/media/pdf/QUALITY_OF_LIFE.pdf

They rank the US as #13. However, if you go to the bottom, you see that the US blows away the other countries except Luxemburg in GDP per capita. Norway is a close third. Canada would probably do well if you restricted it to the population that lived within commuting distance to the US.

The weight assigned to income in that study is 11.5. The life expectancy is given a weight of 15. The US gets a low score there because about 30% of our population is obese, as compared to 10% in most other countries. The divorce rate is given a weight of 14.3, which is a bizarre weight considering how many people do not even get married. And so.

Basically studies like that are nonsense made up by Europeans to get around the plan and simple fact that if you like having stuff, you are better off being in the US.
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Re: How Did Economists Get It So Wrong?

Postby Markor » Mon Sep 14, 2009 8:04 am

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Re: How Did Economists Get It So Wrong?

Postby rose-colored-coolaid » Mon Sep 14, 2009 4:20 pm

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Re: How Did Economists Get It So Wrong?

Postby jon » Mon Sep 14, 2009 4:48 pm

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