How capitalism works?

[evince]

https://en.m.wikipedia.org/wiki/Austrian_School



The Austrian School is a heterodox[1][2][3] school of economic thought that advocates strict adherence to methodological individualism, the concept that social phenomena result exclusively from the motivations and actions of individuals. Austrian school theorists hold that economic theory should be exclusively derived from basic principles of human action.[4][5][6]

The Austrian School originated in late-19th- and early-20th-century Vienna with the work of Carl Menger, Eugen von Böhm-Bawerk, Friedrich von Wieser, and others.[7] It was methodologically opposed to the Historical School (based in Germany), in a dispute known as Methodenstreit, or methodology struggle. Current-day economists working in this tradition are located in many different countries, but their work is still referred to as Austrian economics. Among the theoretical contributions of the early years of the Austrian School are the subjective theory of value, marginalism in price theory and the formulation of the economic calculation problem, each of which has become an accepted part of mainstream economics.[8]

Since the mid-20th century, mainstream economists have been critical of the modern-day Austrian School and consider its rejection of mathematical modeling, econometrics and macroeconomic analysis to be outside mainstream economics, or "heterodox". In the 1970s, the Austrian School attracted some renewed interest after Friedrich Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal.[9]

 

[NiftyNiblick]

You lost all my respect by trashing black voters

I only wish that your respect was the most valuable thing that I've ever lost.

And for the record, I trashed southern black voters, and have no remorse for so doing.

 

[Mason Michaels]

It's amazing how a war on poverty becomes a war on the poor.

In a Country ruled by Corporate Capitalism the poor are the enemy! They don't have the money to be customers.

 

[evince]

I only wish that your respect was the most valuable thing that I've ever lost.

And for the record, I trashed southern black voters, and have no remorse for so doing.

And I showed your fucking lying ass how all of black America voted


They voted the for Biden too


Bernie got a small amount of the black vote?


Do you know why?


So your trashing was of ALL black voters racist one

 

[Mason Michaels]

I only wish that your respect was the most valuable thing that I've ever lost.

And for the record, I trashed southern black voters, and have no remorse for so doing.

I don't see much difference between Southern Black and Northern Black voters!

 

[evince]

That is a large share of the current Republican vote. I think it is mostly because of social issues since the parties differ little on economics.

The working class used to be a major part of the Democratic New Deal coalition but I think Democrats have alienated many of them by calling them a "basket of deplorables," red neck, and "uneducated" (rather than without college degrees). Whether we think that is an accurate description is irrelevant to whether it has alienated them and lost their votes.

You can see this attitude among JPP posters.

STOP LYING ABOUT THE DEMOCRATIC PARTY YOU ASSHOLE

 

[evince]

I don't see much difference between Southern Black and Northern Black voters!

They voted for Biden too


He just wanted Bernie instead


Just like what the Russians wanted

 

[Althea]

We basically have a caste system in this country.

It began that way at the founding, and even though minor adjustments were made we're still there.

The only difference between here and third world societies is that there is a chance to change your caste if you work very hard at it, or get lucky.

 

[evince]

https://en.m.wikipedia.org/wiki/Austrian_School



The Austrian School is a heterodox[1][2][3] school of economic thought that advocates strict adherence to methodological individualism, the concept that social phenomena result exclusively from the motivations and actions of individuals. Austrian school theorists hold that economic theory should be exclusively derived from basic principles of human action.[4][5][6]

The Austrian School originated in late-19th- and early-20th-century Vienna with the work of Carl Menger, Eugen von Böhm-Bawerk, Friedrich von Wieser, and others.[7] It was methodologically opposed to the Historical School (based in Germany), in a dispute known as Methodenstreit, or methodology struggle. Current-day economists working in this tradition are located in many different countries, but their work is still referred to as Austrian economics. Among the theoretical contributions of the early years of the Austrian School are the subjective theory of value, marginalism in price theory and the formulation of the economic calculation problem, each of which has become an accepted part of mainstream economics.[8]

Since the mid-20th century, mainstream economists have been critical of the modern-day Austrian School and consider its rejection of mathematical modeling, econometrics and macroeconomic analysis to be outside mainstream economics, or "heterodox". In the 1970s, the Austrian School attracted some renewed interest after Friedrich Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal.[9]

This is the ideas the Republican Party uses when they crash our economy over and over

 

[evince]

https://en.m.wikipedia.org/wiki/Keynesian_economics




Keynesian economics (/ˈkeɪnziən/ KAYN-zee-ən; sometimes Keynesianism, named after British economist John Maynard Keynes) are the various macroeconomic theories and models of how aggregate demand (total spending in the economy) strongly influences economic output and inflation.[1] In the Keynesian view, aggregate demand does not necessarily equal the productive capacity of the economy. Instead, it is influenced by a host of factors – sometimes behaving erratically – affecting production, employment, and inflation.[2]

Keynesian economists generally argue that aggregate demand is volatile and unstable and that, consequently, a market economy often experiences inefficient macroeconomic outcomes – a recession, when demand is low, or inflation, when demand is high. Further, they argue that these economic fluctuations can be mitigated by economic policy responses coordinated between government and central bank. In particular, fiscal policy actions (taken by the government) and monetary policy actions (taken by the central bank), can help stabilize economic output, inflation, and unemployment over the business cycle.[3] Keynesian economists generally advocate a regulated market economy – predominantly private sector, but with an active role for government intervention during recessions and depressions.[4]

Keynesian economics developed during and after the Great Depression from the ideas presented by Keynes in his 1936 book, The General Theory of Employment, Interest and Money.[5] Keynes' approach was a stark contrast to the aggregate supply-focused classical economics that preceded his book. Interpreting Keynes's work is a contentious topic, and several schools of economic thought claim his legacy.

Keynesian economics, as part of the neoclassical synthesis, served as the standard macroeconomic model in the developed nations during the later part of the Great Depression, World War II, and the post-war economic expansion (1945–1973). It was developed in part to attempt to explain the Great Depression and to help economists understand future crises. It lost some influence following the oil shock and resulting stagflation of the 1970s.[6] Keynesian economics was later redeveloped as New Keynesian economics, becoming part of the contemporary new neoclassical synthesis, that forms current-day mainstream macroeconomics.[7] The advent of the financial crisis of 2007–2008 sparked renewed interest in Keynesian policies by governments around the world.[8]

These are the ideas that the Democratic Party uses when they fix the economy after the Republicans crash the economy over and over

 

[Althea]

Maybe he hasn't read as much Ayn Rand as you have. You probably like really shitty literature.

Actually Rand's work is stellar.

As an author.

She wrote fantasy.

Republicans don't understand that, though.

 

[Althea]

I live in an expensive neighborhood, my house is one of the less expensive ones.


One of my neighbors works an hourly salary job as a manager in a small golf store, his wife doesn’t work outside the home. They live on the water in a recently purchased 4.5 million dollar home.

Another couple I know in an even more expensive home work at the Apple Store and the wife as a nurse.

These are honorable professions, but they clearly do not pay even the mortgage on these homes that tend to increase im value by more than the Dow. They clearly have generational family money…the equity increase in their homes is higher than the average salary or the majority of Americans.

The result is that a very hard working family in valuable jobs such as EMS, or police officer will never improve their situation with hard work.

Our system of perpetuating generational wealth for hundreds years voids the basic principles of Capitalism. Yet, working class Republicans fight tooth and nail to keep taxes low on those living the high life by no merit of their own.

There is absolutely nothing wrong with generational wealth provided said wealth was earned legally, and ethically.

 

[evince]

Actually Rand's work is stellar.

As an author.

She wrote fantasy.

Republicans don't understand that, though.

The anthem is kinda good



The other stuff is crap with cardboard characters and unreal plot outcomes


She was a loser

 

[evince]

There is absolutely nothing wrong with generational wealth provided said wealth was earned legally, and ethically.

And that some are not PREVENTED from doing it

 

[NiftyNiblick]

There is absolutely nothing wrong with generational wealth provided said wealth was earned legally, and ethically.

The legally and ethically part is not on the inheritors but rather on the benefactors.

 

[Althea]

I strongly disagree with most other liberals on the inheritance tax, or on the notion that accumulated family wealth is a bad thing.
I personally live a lifestyle incompatible with my own ability to generate wealth,
so the ability to do so is what makes life worth living to me.

My fellow liberals go completely off the track when they think in terms of unnecessary economic ceilings rather than necessary economic floors.

Further, it's quite clear that wealth can be and is generated from scratch as technology evolves,
and that acquired generational wealth also dissipates with time.

One other thing. If some measure of inheritance tax needs to be applied, it should only kick in when assets are liquidated to cash.
If inheritors want to keep things like businesses or mansions, or art collections or whatnot intact, they should be able to do so.
If they want to liquidate them for cash, then some reasonable tax might be applied.

I generally agree, but there are so many loopholes with estate finances.

Heirs borrow millions against assets, and never pay taxes on that wealth. Sure...they pay interest, which until now was somewhere around zero.

 

[evince]

No one should be prevented from building this said wealth

 

[Flash]

STOP LYING ABOUT THE DEMOCRATIC PARTY YOU ASSHOLE

No lies. Just look at the coalitions making up the current two-party vote for verification. It is simple.

Previously, we could predict party vote by income level but today there is little difference after about $50,000. Today, educational level is a better predictor. There have been many JPP threads pointing out this distinction denigrating the working class for their Republican votes. Some voters do not always put their own economic interests first.

 

[evince]

No lies. Just look at the coalitions making up the current two-party vote for verification. It is simple.

Previously, we could predict party vote by income level but today there is little difference after about $50,000. Today, educational level is a better predictor. There have been many JPP threads pointing out this distinction denigrating the working class for their Republican votes. Some voters do not always put their own economic interests first.

The Democratic Party does not use the same economic ideas as the Republican Party



YOU LIED

 

[evince]

https://en.m.wikipedia.org/wiki/Austrian_School



The Austrian School is a heterodox[1][2][3] school of economic thought that advocates strict adherence to methodological individualism, the concept that social phenomena result exclusively from the motivations and actions of individuals. Austrian school theorists hold that economic theory should be exclusively derived from basic principles of human action.[4][5][6]

The Austrian School originated in late-19th- and early-20th-century Vienna with the work of Carl Menger, Eugen von Böhm-Bawerk, Friedrich von Wieser, and others.[7] It was methodologically opposed to the Historical School (based in Germany), in a dispute known as Methodenstreit, or methodology struggle. Current-day economists working in this tradition are located in many different countries, but their work is still referred to as Austrian economics. Among the theoretical contributions of the early years of the Austrian School are the subjective theory of value, marginalism in price theory and the formulation of the economic calculation problem, each of which has become an accepted part of mainstream economics.[8]

Since the mid-20th century, mainstream economists have been critical of the modern-day Austrian School and consider its rejection of mathematical modeling, econometrics and macroeconomic analysis to be outside mainstream economics, or "heterodox". In the 1970s, the Austrian School attracted some renewed interest after Friedrich Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal.[9]

These are the economic ideas the republicans employ when they have the power