That's no fun. What we need is an annual 'purge'. One day (every year) where you can steal anything you want and keep it. Guaranteed to reduce inequality.
Ricardo defined rent as, “that portion of the produce of the earth which is paid to the landlord for the use of the original and indestructible powers of the soil.” In his theory, rent is nothing but the producer’s surplus or differential gain, and it is found in land only. Bing search I would modify it to also be virtual land
Wealth is always a claim on other people. If financial wealth is growing relative to the size of the GDP, then that means claims on other people are growing relative to the size of the GDP. Which means... you certainly don't want to be the "other people" in this scenario. E.g., the value of rental property ULTIMATELY depends on how much rent is charged; the value of a government bond ULTIMATELY depends on the ability of taxpayers to make interest and principal payments; the value of a dividend growth stock ULTIMATELY depends on the ability of consumers to continue to buy more. And if global population growth slows, then that just means that those who actually are born will just have to pay MORE rent, interest, and dividends if that financial wealth is going to be sustained.
Terry Jones Barbarians 1 of 4 - The Primitive Celts (aired 2006) Terry Jones Barbarians: 2 of 4 - The Savage Goths Terry Jones Barbarians: 3 of4 - The Brainy Barbarian Terry Jones Barbarians: 4 of 4 - The End Of The World History may not repeat, but it may rhyme. If it rhymes, it may serve as a song, it may serve as story. As we know, history may serve as a rear-view mirror. The rear-view mirror gives us two perceptions: Awareness of what is behind/around and the anticipation of future... a vision of road to environment. What did J. R. R. Tolkien have to say about history? What did he say about story? What did he say about roads? Who are we? What are we? What will we become? What is implied when we take a road less traveled? Students get processed by Marshall McLuhan - Deconditioning Lecture [1969]
Alphabet made 45 Billion $ net company profit on the EU market, they paid zero $ tax. Meta made 12 Billion $ net company profit on the EU market, they paid zero $ tax. Apple made 14,5 Billion $ net company profit on the EU market, they paid zero $ tax.
Patents are necessary to provide an income for the (creative) inventor. Otherwise he or she would not have an income. Labor is nothing but the (stupid) execution of that invention. Otherwise it would not even know what to do (we would still be in the stone age). So, to state the world should be owned by labor is a misinterpretation of reality. The fact labor is overproducing MEANS the rest of the world is in a rentier state. That is the OBJECTIVE of the construct of human economy. So, either stop bleating, or come up with a financial system which rewards the creative inventors in this world by definition based on product availability. Not on labor availability. That is the upside down observation of reality. Although I do agree speculation and derrivates should be banned, because that calculation is equal to improductive labor.
Another economist who ignores the Elephant in the room, Population growth by immigrants and immigrant having excess babies, has caused These pressures, having lived in England and bought 4 houses at 3 times income. This was until Blair allowed 10million to settle in under 20 years. England works with 55million people it becomes very stretched at 70million. Its not about the rich renting houses out. if demand was less they would sell.
The situation regarding growth is mainly influenced by the level of confidence in market trends over which no company or organization has any control. In respect of inflation is generated by falling interest rates, irresponsible lending, quantitative easing, demand for natural sources. In addition, following the advent of Covid followed by the invasion of Ukraine has created additional factors of uncertainty. Now, none of these factors are under the control of Goldman Sachs that has been selected as a target for the role of a scapegoat for all the economic ills of the world.
Those factors are not directly under the control of Goldman Sachs, but Goldman Sachs has the economic power to put their things on the scales and I guess his point is that they do so without reservation, and perhaps to the greatest extent they find possible. I presume that any other for-profit corporation with that much economic power and resources would also do the same, because well, deregulation.
