- Capitalism and Alternatives -


Posted by: Gee ( si ) on October 01, 1999 at 17:38:07:

In Reply to: Comforting words! posted by Stoller on October 01, 1999 at 17:02:44:

: Yahoo stats? No thanks, I 'll stay with the New York Times: '[F]our out of five households, or about 217 million peole, are taking home a thinner slice of the economic pie today than in 1977.' (5 September 1999, sec. A, p. 14.)

The 'yahoo stats' were based upon a 'line' the crossing of which entails poverty. We both know the line gets shifted upwards regularly, but its at least a half hearted attempt at objectivity.

The NY stats are completely relative and meaningless. A $100k a year worker is 'very poor' relative to Warren Beatty (oh but hes so socialist!) but he is not impoverished by any objective standard.

: : Looking at a five year chart and ending the chart just after the crahs looks awful. Showing the 50 year chart makes the trend ever clearer.

: Great. When four out of five Americans live to be 300 years old or so, market 'corrections' will not destroy their entire lives. Comforting words!

You passed on math then.

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