Here is a very interesting interview which explores the longer range prospects for the economy and environment and population. A nice knitting together of several themes.
It is long but I found it interesting and a different take on the world, especially coming from a financially savvy person. Arthur Subject: Charlie Rose - Jeremy Grantham http://www.charlierose.com/view/interview/12812 From: michael gurstein [mailto:[email protected]] Sent: Tuesday, March 12, 2013 6:12 PM To: 'RE-DESIGNING WORK, INCOME DISTRIBUTION, EDUCATION'; 'Arthur Cordell' Subject: RE: [Futurework] In Silicon Valley, rich getting richer and poor getting poorer Keith, You keep writing as though these are immutable acts of god or the hidden hand or whatever. In fact, income distribution is largely a product of policy choices made or not made. You find significantly different income curves in other countries where the taxation laws are different or where there is a specific intervention in support of equalization of income for example. The size of the pie may be frozen (or not) but how the pie is distributed is a basic set of political choices. M From: [email protected] [mailto:[email protected]] On Behalf Of Keith Hudson Sent: Tuesday, March 12, 2013 2:05 PM To: RE-DESIGNING WORK, INCOME DISTRIBUTION, EDUCATION; Arthur Cordell Subject: Re: [Futurework] In Silicon Valley, rich getting richer and poor getting poorer The key paragraph in Martha Mendoza's article, I thought, was this: "The fact is that we have an economy now that's working well only for those at the very top," said Lawrence Mishel at the Economic Policy Institute in Washington D.C. "Unless we adopt a new approach to economic policy, we're going to continue going down this path, which means growth that does not really benefit the great majority of people in this country." But the majority of Americans have been on an income decline for the past 20 years. This will be due to the continuing simplification of jobs by computers as well as direct redundancy due to automation. How can there be economic growth in the future? It needs either an expanding number of consumers or increasing amounts of discretionary cash (real, not inflated) in consumers' pockets. We're not going to either. There are no more significant consumer goods in the R&D departments of the manufacturing corporations to act as incentives in the same way that the printed cotton dress, the mackintosh, the Sunday-best suit, the camera, the radio, the terrace house, the television, the car did during the last 200 years. Keith At 14:10 12/03/2013, AC wrote: Snip, snip, snip
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