tag:blogger.com,1999:blog-6034478.post8223113371445564346..comments2024-03-29T02:57:29.025-04:00Comments on Doug Ross @ Journal: The 3 Types of "Income Inequality" Religious ExtremistsUnknownnoreply@blogger.comBlogger12125tag:blogger.com,1999:blog-6034478.post-59055921407480006052014-05-20T03:16:09.981-04:002014-05-20T03:16:09.981-04:00"In truth, North Korea represents the ideal f..."In truth, North Korea represents the ideal for those who fight for income equality with its one man at the top worth tens of billions of dollars while the entire civilian population starves, largely impoverished."<br /><br />Wowza. You know, if you want to discuss "inequality", you might want to learn what the word means. Wikipedia points out "A Gini coefficient of one (or 100%) expresses maximal inequality among values (for example where only one person has all the income)."<br /><br />Cesiumhttps://www.blogger.com/profile/02025636403503365433noreply@blogger.comtag:blogger.com,1999:blog-6034478.post-42495547424718217792014-05-20T03:05:01.660-04:002014-05-20T03:05:01.660-04:00"Cowan seems to have missed the century-long ..."Cowan seems to have missed the century-long tidal wave of regulation already levied upon the financial industry"<br /><br />Guess you missed the repeal of Glass-Steagall Act in 1999.<br /><br /><br />You didn't explain very well how robots are related to income inequality. But thanks for letting us know that you consider muscle and brain to be equivalent. The industrial revolution replaced human muscle with mechanical power. The robotic revolution will replace human brain power with mechanical brain power. Fortunately, thanks to you, we now know that because muscles and brains are functionally equivalent, we can rest assured that there will be no difference in how labor and capital relate to each other over the coming decades as robotics matures.<br /><br />Cesiumhttps://www.blogger.com/profile/02025636403503365433noreply@blogger.comtag:blogger.com,1999:blog-6034478.post-87023835643675622972014-01-25T22:26:51.458-05:002014-01-25T22:26:51.458-05:00I am not sure your interpretation of Shedlock'...I am not sure your interpretation of Shedlock's position is correct. As I read him, he is saying to those who want to increase the minimum wage that their efforts to make labor more expensive will serve to make robots more economical for businesses. This will result in a loss of jobs to robots. I don't think he is a Luddite, just being realistic about the economics of the cost of labor.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6034478.post-74657180390453853962014-01-25T15:25:28.267-05:002014-01-25T15:25:28.267-05:00It's never happened before and I can't ima...It's never happened before and I can't imagine it, so it's impossible. I don't think a well reasoned argument can compete with that.DFCtommnoreply@blogger.comtag:blogger.com,1999:blog-6034478.post-18415290727384036342014-01-25T13:52:48.535-05:002014-01-25T13:52:48.535-05:00The CPFB is doing amazing work. A international wi...The CPFB is doing amazing work. A international wire transfer used to cost $35. Now thanks to their "help" it costs $60.<br /><br />If you are wiring money for personal use, the banks can no longer do that after 2:00 pm or on Saturdays. (In California, at least.) That must be convenient for all of the consumers, eh?<br /><br />This is because they now have to tell you how much the amount will be in foreign currency, as if the local bank knows the rate better than the person sending money home.<br /><br />Oh, and now you also get a 30 minute regret window. Because so many people who plan a trip to a bank to wire money home regret doings so.<br /><br />I wonder how much of the $60 is going straight to the CFPB's budget. That's a lot of money.<br /><br />I feel bad for the poor immigrant who wants to wire $1,000 to his mom back in the old country:<br /><br />He now needs to take time off work. His fees went from 3.5% to 6%. And the form and processing time just got longer.<br /><br />My bank said that other smaller banks just would stop offering the service at all. Awesome.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6034478.post-78049871537816863372014-01-25T13:52:40.098-05:002014-01-25T13:52:40.098-05:00The CPFB is doing amazing work. A international wi...The CPFB is doing amazing work. A international wire transfer used to cost $35. Now thanks to their "help" it costs $60.<br /><br />If you are wiring money for personal use, the banks can no longer do that after 2:00 pm or on Saturdays. (In California, at least.) That must be convenient for all of the consumers, eh?<br /><br />This is because they now have to tell you how much the amount will be in foreign currency, as if the local bank knows the rate better than the person sending money home.<br /><br />Oh, and now you also get a 30 minute regret window. Because so many people who plan a trip to a bank to wire money home regret doings so.<br /><br />I wonder how much of the $60 is going straight to the CFPB's budget. That's a lot of money.<br /><br />I feel bad for the poor immigrant who wants to wire $1,000 to his mom back in the old country:<br /><br />He now needs to take time off work. His fees went from 3.5% to 6%. And the form and processing time just got longer.<br /><br />My bank said that other smaller banks just would stop offering the service at all. Awesome.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6034478.post-16343366752614991352014-01-25T12:21:06.031-05:002014-01-25T12:21:06.031-05:00What history books do you refer to? Academia and m...What history books do you refer to? Academia and media fell to the "progressives" /Marxists two generations ago - so one must now go trekking deep into the intellectual wilderness on one's own to find an honest accounting of collectivism's history of failure.Rob in Massnoreply@blogger.comtag:blogger.com,1999:blog-6034478.post-21332486663628791822014-01-25T09:03:52.521-05:002014-01-25T09:03:52.521-05:00Biff is naive. Cowan and Shedlock are right.
Gove...Biff is naive. Cowan and Shedlock are right.<br /><br />Government creates income inequality.<br /><br />http://www.wcvarones.com/2011/01/robert-shiller-on-rising-inequality-in.htmWC Varoneshttp://www.wcvarones.comnoreply@blogger.comtag:blogger.com,1999:blog-6034478.post-64625078338629950802014-01-24T23:11:21.596-05:002014-01-24T23:11:21.596-05:00Income inequality is exacerbated by government dis...Income inequality is exacerbated by government distortions like taxation and regulation that artificially creates winners and losers. Increase economic freedom and competition and you'll decrease income inequality.R. Rightnoreply@blogger.comtag:blogger.com,1999:blog-6034478.post-41523893577311623682013-12-18T21:15:49.449-05:002013-12-18T21:15:49.449-05:00The "free market"? Methinks Biff Spackle...The "free market"? Methinks Biff Spackle must have attended the Fed's birthday party. If you don't want more regulation of Wall Street, how about enforcement of the law, and holding actual people culpable for illegal corporate behavior? LIBOR manipulation, FX manipulation, commodity manipulation, THEFT. Not my idea of market activity, but here we are.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6034478.post-68180493392839030262013-12-18T20:41:18.722-05:002013-12-18T20:41:18.722-05:00I'm all for economic inequality..
+ We don'...I'm all for economic inequality..<br />+ We don't need a law to create it .<br />No wonder registered democrats do not like it, <br />though on the average richer than registered republicans...john ☻☺♥Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6034478.post-61795862759851714822013-12-18T20:16:50.629-05:002013-12-18T20:16:50.629-05:00If Baskin-Robbins only sold vanilla ice cream, the...If Baskin-Robbins only sold vanilla ice cream, they'd be out of business.<br /><br />Enjoyed the article.JeffersonOhnoreply@blogger.com