11-18-2016, 02:28 PM
(11-18-2016, 12:31 PM)Mikebert Wrote:Warren Dew Wrote:Inequality reached the apparent maximum sustainable levels around 2000 just as they did around 1930.
Inequality has continued to trend up since 2000 up 7% and 10% from 2000 levels in 2010 and 2015, respectively.
Inequality trended up fairly smoothly in the 1980s and 1990s. Since 2000, it was bounced around at a high level. There was a peak in 2000, another peak in 2007, etc. More recent peaks have been slightly higher but there is no longer a general upward trend.
I'm surprised if your measure of inequality doesn't catch these details.
Quote:Warren Wrote:In 1940, foreign war relieved the inequality for the cycle.
It wasn’t the war. We had foreign war in WW I too, its affect on inequality was temporary. Inequality had peaked in 1926, dipped 16% into 1920, and had risen back in 1928. It would have gone higher by the stock market crash intervened. No it was what was done in WW II and afterward that was different from what was done after WW I that caused inequality to undergo long decline.
US participation in WWI was not at the level of an existential war, as WWII was. They were two completely different things from the US standpoint. WWII was a crisis war for the US; WWI was not, any more than the Vietnam War or the Gulf War were.
The stock market crash was not an exogenous event that just happened to affect inequality. It was an endogenous effect with a random trigger. The high inequality levels had set things up for a crash. The crash did much of the redistribution from the top 1% to the rest of the top 10%, and WWII then redistributed to the remainder of the population.
Quote:Quote:..Trump might be better off starting a war of the industrial elites against the financial elites.
I doubt it, seeing as he is one of those financial elites. The man isn’t an industrialist, he makes deals, mostly financial ones.
Trump owns actual property like the industrialists. That makes his situation much more like theirs than it is with those that deal primarily in financial instruments like stocks and bonds.