Robin Smith posted Where Are My Wages Going on his blog and What Exactly is the Wealth Divide on the Finance Lab. He offers the following simple image and statement, worth considering and questioning.

He says: There is no mystery as to the root cause of poverty. Both the Private State and the Welfare State are robbing us. And giving it all away to landowners and banks.

Robin,

I’d be interested in what else you’ve done. I think the valid point you’re making is that there is indeed a long term systemic trend of more and more future income being paid to people who saved past income. I’ve made what I think are definitive models of why that arises, and what to do about it since the early 80’s. Continue reading What exactly is the wealth divide II →

Marketplace Radio said it best today, discussing why everyone is having such a hard time explaining why the economy is unresponsive to stimulus. My comment:

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It was gratifying to hear you discuss our so very stubborn economic dilemma with your question for your guest, “You mean we still don’t know what we don’t know?” And getting the simple answer “Yes.”

I’ve known generally how and why the present dilemma would arise for over 30 years.   I’ve had a hard time telling you, though.  As many times as I try, you (and others) don’t respond with questions.   I hope the following helps. Continue reading The failing recovery: natural diminishing returns →

This one sounded good enough to Mike McCabe of the Wisconsin Democracy Campaigninvestigating the waves of secret corporate cash going into politics this year, to rate it: “Thanks for the note. Good points. Very well said.”

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Thanks for your work,

Somehow limitless deceptive speech by corporations,… especially in secret,…. especially if misleading about their own shareholders and the public’s interests, isn’t right.

What about the literal meaning of “fiduciary”? Has anyone read the words lately?

Corporations are public trust with a fiduciary duty to act in the interests of others, their public stock holders and the their licensing agency. Perhaps some people think of that as meaning “money, money, money, money”, but the words don’t say that! The words say: Continue reading An idea for Corporate Speech! – recognize fiduciary duty →

One of the interesting exchanges on: the George Monbiot discussion page, this one on “The Process is Dead”

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JR, The question is confusing, no doubt, as to the difference between resource limits, which are absolute, and whether species evolve to seek or avoid conflict. I always find that on such questions the answer is “both” and that nature has more variety in her strategies than any theory is capable of incorporating. Continue reading Is it “push and shove” or skillful avoidance? →

Prof. Amir M. Sharif in Complexity in Finance discussion asked:

What does complexity mean for you?

When we talk of complex systems we normally mean systems or interacting components that have an impact and relationship between each other – and generally exhibit non-linear, unpredictable, sometimes volatile, ever-changing and emergent behaviour.

But thats the textbook – what are your views?

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To me, a better way to view complexity is describing what we see in the real world, the physical subjects that are what scientists try to imitate with their models.  In nature and in the economy complexity is quite often observed as a property of the unexplainable organization of systems of nature that work by themselves. Continue reading What does complexity mean for you? →