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Huh? If the competent people who worked hard end up as dirt poor as the idiots who didn't, it wouldn't be fair. I'm not saying that the productive minority is entitled to hang onto everthing that they managed to accumulate - there's not a lot of tax to be collected from idle incompetents, and the administration does have to collect enough in taxes to keep the machinery of society turning over - but since society consists of non-identical individuals, there's nothing fair about reducing the best to the same condition as the worst.

-- Bill Sloman, Nijmegen

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You are rather completely bought in to the liberal version of history based on the content of your post. Look again through the records, your previous instructors have both understated the worst excesses of the "owners" and underreported the decency of the average to best cases.

No, it is baffle-gab. An Academic language completely disconnected from reality.

And he'd go nuts and die if he didn't have you to "converse" with. I'm always pleased to note that I'm the highest standard for Slowman's disdain, but please don't feed the jerk. Let him die that most unpleasant of deaths... alone ;-)

-- ...Jim Thompson

| James E.Thompson, CTO | mens | | Analog Innovations, Inc. | et | | Analog/Mixed-Signal ASIC's and Discrete Systems | manus | | Phoenix, Arizona 85048 Skype: Contacts Only | | | Voice:(480)460-2350 Fax: Available upon request | Brass Rat | | E-mail Icon at

Shazam! I would have never imagined that this sort of statement would come from you. While we disagree on just about anything else, there you were right on.

Even a blind pig...

eep,

Destroying your factory is a bad business model. That quickly self- limits. Besides, nowadays we sue or jail those people. Too much, in fact.

Interestingly and ironically enough, that emphasizes the need to identify defects and eliminate high risk insureds to minimize underwriting loss rates.

"Experience has also shown that the scientific examination and inspection of insured boilers produces a declining loss ratio."

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As John pointed out, that was a transient effect, an unusual, historic dislocation. Machines meant that few could farm what had previously required the toil of many. So there were lots of workers looking for work.

Short term, that's painful. Long term, that's creative destruction, society re-allocating resources from something no longer needed, to something people do want and need.

Would it have been better to destroy the farm equipment that made growing food so easy, or the mills that made clothing cheap for everyone? Or go the Obama way--carve up the factory and give it to the workers? Divvy up the greedy farmer's land? That makes factories disappear and farms go fallow (witness Zimbabwe).

The dislocation at the beginning of the Industrial Revolution was especially traumatic since motive power meant so many human-muscle- powered occupations were displaced at the same time. Would it have been better to keep them all in subsidized green jobs making wagon wheels with sustainable, carbon-neutral technology, as they were, after all, before steam?

Longer term, profitable business attracts competition. Outrageous profits are almost never sustainable for that reason. Competitors have to compete for workers, with both wages and conditions.

Sharing the wealth? That comes immediately through cheaper goods, making it easier and cheaper to live, and through better wages and working conditions with time, as described above.

Everyone wins. And yes, the industrialist does very well for a time-- there's a phase delay. That's his reward. Take it away, and he won't do it at all.

-- Cheers, James Arthur

Yep. Ford *could* pay double. Because of his innovations, his workers could produce more product, more value.

That is, Ford _increased the value of their labor_.

Productivity=3D=3Dstandard of living.

James

Obviously it's extremely critical how and when those benefits are shared. Labor does not deserve all the proceeds of my innovation, risk, and investment simply because I hire them, guarantee them a regular check when I get none, and insulate them from the predations and petty ministration of their rulers. Showing up for a paycheck at a factory does not entitle you to the factory.

Freedom means you can start something yourself, if you want those rewards and are prepared to take those risks; government means you can't, to a larger and larger extent.

James Arthur

trust

How so? Did you die?

Do you have more information on this? I know it's been rumored that the Demonicrats want to seize all IRAs, but I've seen nothing about it already occurring.

People consume and business invests. Any society must balance short-term consumption against long-term investment. That is what the "sharing" is about.

John

Where have the aliens taken Slowman?

The pattern repeats:

Manufacturing seeks cheap labor and makes lots of stuff. Pretty soon, that labor isn't cheap any more. Eventually the world may run out of places with cheap labor.

John

I responded to Jeorg. I don't see Slowmans posts.

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Conspiring is harmful. Why, though, is it bad for capitalists, yet infinitely good for labor?

Conspiracies among competing capitalists are inherently unstable. Like OPEC, the players have competing interests; squabble, the alliances fall apart, and they resume competing for advantage. It's a beautiful thing.

James Arthur

Who cares, as long as they don't bring him back.

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Actually it is quite uncommon according to BLS data.

Not all that well. It really fell behind during Carter era. Interestingly, credit card rates never came back down.