"The US Economy -- Explained!"

Discussion in 'Politics' started by Misaki, Jul 11, 2011.

  1. Misaki

    Misaki Member

    Jul 8, 2011
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    "The argument that we are on a permanently lower growth path is an argument that there's nothing we can do, nothing we need do, and nothing we should do (except, perhaps, measures such as sharing the jobs we have more broadly). This is the new normal and you may as well get used to it."

    An analogy (aka a lie):

    Jens, Kirsten, and Niloufar constitute an economy. It doesn't matter what they make. Each sells to the other two.

    Enter William, who sells iPods. Jens wants an iPod, so he starts buying less from Kirsten and Niloufar. Eventually he has most of the money in the economy, and buys an iPod.

    William now has most of the money, Jens has an iPod but no food, and Kirsten and Niloufar are selling less than half what they used to (mostly to each other).

    Now, they could all reduce their prices to prevent Jens from starving to death, but they are too stubborn since after all it's Jen's fault no one has any money, and if he wants food he can make stuff for them (which they can buy only slowly because most of the money is gone). Anyway if they did lower their prices, they'd never get their money back from William after Jens gave it all away.

    But William just likes collecting money, and only spends what he needs to survive... and before he completely runs out, Kirsten decides she needs an iPod too.

    ^ You are invited to ponder the solution to that situation before proceeding.

    Yay I love replying to my own comments. For those who don't know how to fix this simple economy of four persons: make Jens, Kirsten, and Niloufar all do some of the work of assembling iPods, so William has more time to spend money and has to pay the other three to make the iPods that they want to buy.

    Again, http:/pastebin.com/Q86Zhgs9 except people think companies are doing badly so the correct action is to reduce average wage for full-time work, but give the option to work part-time at the original wage **which is an offer which should be taken disproportionately more frequently by those working at profitable companies making iPods**.

    FACT: A girl in China offered her virginity for an iPhone.

    Last edited: Jul 11, 2011
  2. editec

    editec Mr. Forgot-it-All

    Jun 5, 2008
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