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As Jim at the New Yorker says, the very, very rich (0.01%) are pulling away, in terms of accumulative multiples, from the very rich. What we need to look at is the reality of near-zero (excessive takings, of any type, are lop-sided and are really not much different in character than exorbitant taxings (used to support the leisurely life of the royal set, in many cases) - not arguing against a larger percentage tax for super earners, by the way).
This blog is about the dismal field that is so little understood in practice (yes, theory abounds, that there is a lesson) as to be comical (think Keystone cops) except that the consequences suffered by some is dire, indeed. Those in control are looking at each other wondering how to get things moving; there is real pain at the main parts; and, has anyone seen an end to the mess?
By the way, what is a 'royal' in the discussion here? Anyone with an out-sized sense of entitlement; the 'new kings' are more in the set than the lowly worker trying to make a living (usually subsistence). Again, reminder: those dealing with money, and its control, ought to have taken some equivalent of the vow of poverty (as evidenced by simple living).
Those trying to create a proper economic realm could look at what a Magna Carta for the system's role players might look like. Workers would get more respect and support, perhaps lessening the motives behind unionism.
That focus would help alleviate some of the mania attached to capitalism (yes, Adam's little system, so much mangled). Also, the artificial (as in, that basis which has been allowed to grow under the guise of interloped mathematics) would be constrained. Currently, these systems, and those who ride herd for their daily takings off the top, seem to run things, mostly in an amok manner.
Labor needs respect; those who touch matter are of far more importance than the modelers, and gamers.
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Each generation seems to try to relearn what was known before. But, were things known, or do we impose notions through historical, and other ex post facto, views?
The question ought to be pondered in the context, as an example, of how change has been the most prevalent component in computational spheres, with deleterious affect.
Ah, is there some type of slate that is wiped clean from time to time? Technology, and its progress, seems to have this type of effect.
Or, is it that we, as a kind, have never been successful, across the board, of inculcating the best into our progeny. Of course, there have been families that have excelled long periods of time. Can this be considered the norm?
Yet, the young folk, starting early, spend a significant part of their year, and each weekday, in a milieu, that does include some element of indoctrination.
What are they learning early of economic realities? How are they attaining knowledge that debt, and perpetual accumulation thereof (oh, yes, like the US currently), leads to the state not unlike that of the indentured servant, of old?
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'Nothing new under the sun' is the adage. That events of 800+ years ago are still of interest, and utility (capitalism has usurped this notion along with many), will be a continuing theme. The 400+ of those issues being brought to this side of the pond is the motivation.
Remarks:
10/20/2011 -- The spawn'er of the new royals.
10/07/2011 -- Magna Carta, the celebration thereof.
05/25/2011 -- Lemons problem, dark pools, ... Oh, so much to look at!
05/09/2011 -- This needs to be looked at in terms of doers.
01/03/2011 -- Ah yes, now there are demands. The question remains: what growth other than the pockets of these types?
11/01/2010 -- von Mises' thinking applies here.
09/21/2010 -- Facebook, as metaphor.
09/02/2010-- The FED just had their hoe-down.
08/31/2010 -- The chimera needs to be dismantled and rebuilt. Those running the money systems need to take a vow of poverty and simple living (period).
Modified: 01/13/2012
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