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From: kludge@panix.com (Scott Dorsey)
Newsgroups: rec.arts.sf.written
Subject: Re: the future long term financial apocalypse of the USA
Date: 25 May 2024 12:59:07 -0000
Organization: Former users of Netcom shell (1989-2000)
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D  <nospam@example.net> wrote:
>On Thu, 23 May 2024, Scott Dorsey wrote:
>> D  <nospam@example.net> wrote:
>>>
>>> And yet here we are, and China is more prosperous than ever, while europe,
>>> the master of regulations is sliding down into socialism.
>>
>> Yes, and yet China has become famous for manufacturing unsafe knockoff
>> products.  Perhaps prosperity isn't everything?  The Chinese government
>> values prosperity over individual safety, that is certainly clear.
>
>I think you'll find if we remove your prosperity, that to the contrary, 
>safety isn't everything. Also from a quality of life and wealth point of 
>view, china has been doing pretty well. You should read up on the trickle 
>down effect and I recommend you Johan Norbergs The Capitalist Manifesto. 
>Read it and it will revolutionize your world and you will no longer be 
>able to follow socialism in a serious way. =)

I mentioned this much earlier in the thread.  Yes, the trickle-down effect
exists, but it doesn't work the way the laissez-faire crowd thinks.  If
you give money to rich people, they just get richer and richer and if there
is no motive for them to invest it in the economy, they don't.  It only
works when there is an actual incentive for them to invest it and make it
work.

That's how Haiti got to be an isolated set of compounds owned by a few
multimillionaires, who had to buy helicopters to visit one another 
because they didn't want to spend money to fix the roads. (Eventually
it got to they point that they just all left the country and took their
money with them.)

This is what I see happening in the US today and it's a bad thing because
it doesn't take much change to make capitalism actually work well.
--scott


-- 
"C'est un Nagra. C'est suisse, et tres, tres precis."