2016 Economic Crisis Thread - Duck and Cover?

The Something Awful Forums > Discussion > Debate & Discussion > 2016 Economic Crisis Thread - Duck and Cover?

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Will the global economy implode in 2016?
	We're hosed - I have stocked up on canned goods
	My private security guards will shoot the paupers
	We'll be good or at least coast along
	I have no earthly clue

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rscott: Dec 10, 2009

PS basically all of Korea's Chaebols started either as SoEs or with heavy state subsidization because they couldn't find private investors anywhere to front them the funds to get off the ground

# ¿ Jan 21, 2017 15:56

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# ¿ May 9, 2024 11:19

rscott: Dec 10, 2009

Private Speech posted:

Could you provide some citations for that? Particularly the part about comparative advantage, and lack of skill advancement due to foreign influence. Not that I don't believe you, I'm both curious and eager to find out more. I've read some of his writing for what it's worth.

As to the second part of your post, some of it I definitely agree with (the IP bit in particular is a common feature of industrialisation success stories, for obvious reasons). But it also would seem to put nations into very antagonistic positions against each other, which I'm not sure I'm entirely comfortable with as a recipe for the whole world. It might be fine for one country as long as others allow themselves to act as consumer markets for their exports, but it wouldn't seem to work if everyone did it.

I also don't see how your last point follows from your premises, it seems more like an off-the-cuff comment about the US and Japan. I'm not sure, however you choose to describe those countries, you can argue they lack worker skills, education, IP, capital or technology, and those are the places where automation happens the most (and in fact particularly because they have the technology to make it feasible, and because the wages are high enough to make it economical).

The idea that Comparative Advantage maintains the status quo goes all the way back to Ricardo himself

e: if you read Ricardo it's clear that the concept of Comparative Advantage is descriptive rather than prescriptive

rscott fucked around with this message at 18:41 on Jan 21, 2017

# ¿ Jan 21, 2017 18:35

rscott: Dec 10, 2009

Not the president of the united states of america, that's for sure!

e: I mean I bet the band does read books but the guy holding the office doesn't read

# ¿ Jan 28, 2017 18:25

rscott: Dec 10, 2009

shrike1682 posted:

I know we have to do this song and dance every couple months but yes, the average Irish/Scot is better off today than (s)he was as a peasant historically. Saying otherwise smacks of first world privilege.

# ¿ Jan 31, 2017 01:36

rscott: Dec 10, 2009

wateroverfire posted:

It really depends? A 1% inflation-adjusted return isn't unreasonable depending on the risk of the portfolio and the goals of the investor. Though obviously you'd take a 6% inflation-adjusted return for the same risk if you got to choose.

What is the important point to you, I guess? The very rich won really big compared to the relatively poor over the period we're looking at. But that's a relative comparison. In absolute terms the relatively poor have won as well. A 39% real increase in purchasing power is nothing to sneeze at - that's a real improvement in standards of living. Why is the increase in inequality a more important point than the improvement of living standards for everyone?

If you contrast it to the previous 34 years where incomes in that percentile range doubled it doesn't seem so relatively great

# ¿ Sep 21, 2017 00:53

The Something Awful Forums > Discussion > Debate & Discussion > 2016 Economic Crisis Thread - Duck and Cover?

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