#economy
He tenido una epifianía… acerca de la economía
“Epifianía” – manifestación clara y sin lugar a duda alguna de que la hemos pifiado, pero bien pifiado.
Básicamente esta es la idea que quiero transmitir acerca de la economía: la de ser el mayor error de la humanidad en toda su historia como especie “inteligente”. Al final, cualquier teoría, tratado económico, financiero, divulgativo o de cualquier otra índole que tenga el propósito de explicar…
a country so easily goes into war and spends trillions of money on death, bloodshed, and destruction.
but when it comes to healthcare, housing, schools? “Where’s the money?” they say.
I’ll tell you where the money is. It’s in the hands of the bandits who are billionares, the hands of the few. That’s where it is. And it doesn’t belong there. We know where it is. They’re the people that fund the wars in the first place.
Billionares, they just like killing people, they don’t like living people.
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Solving the wrong problem: Bitcoin misunderstands money
I like how this article explains money.
But as the recovery continues, we cannot forget the long-standing challenges that our economy has faced in recent decades. Chief among these is rising inequality—of income, of wealth, and of opportunity. While inequality is a global challenge, it remains especially important in the United States. Since the late 1980s, the share of income going to the top 1 percent in the United States has exceeded the 1 percent’s share in every other G-7 country in each year that data are available. It has also risen faster than in any of these advanced economies. In 2014, the top 1 percent received 18 percent of income, up from 8 percent in 1975.
While some inequality can result from competitive markets providing higher rewards to the most-productive workers, it is important to design our economic policies to promote inclusive growth that is shared with a wide range of households. In particular, a growing body of evidence suggests that much of the rise in inequality stems from cases where markets fail to be competitive. When barriers to competition such as monopolies or preferential government regulations prevent new entry into markets, incumbents can collect more income than their productivity justifies—capturing what economists call “economic rents.”
A wide range of economic policies can help address inequality by 1) promoting equal opportunity for all Americans through high-quality early education and supportive policies for low-income families; and 2) reducing economic rents through effective and thoughtful regulation as well as policies that increase worker voice.
For more information on the challenge of inequality and on the President’s agenda for inclusive growth, check out Chapter 1 of this year’s Economic Report of the President.
The economy’s progress since 2009 has been robust. The unemployment rate has fallen by half from its peak of 10 percent to 4.9 percent in the most recent data. In fact, the economy has beaten expectations in many important ways. As recently as 2014, leading economic forecasters predicted that the unemployment rate would not reach 5 percent until at least 2020.
U.S. GDP also reached its pre-crisis peak faster than other advanced economies, as shown in this chart from the 2016 Economic Report of the President.
Similarly, in 2015 U.S. consumer sentiment reached highs not seen in over a decade. When consumers and businesses are more confident, they spend and invest more, helping our economy grow.
We recovered so strongly from the 2008-2009 recession in large part due to the different choices we made. Unlike at the onset of the Great Depression, our policymakers took aggressive and rapid actions to boost aggregate demand to get our economy growing again, stabilize financial markets, and support workers who had lost their jobs. In total, the Recovery Act and a dozen subsequent measures provided $1.4 trillion in support for the economy. The dividends of this decision have been clear over the past seven years, as the economy has recovered much more rapidly than it did during the Great Depression and has also outpaced other countries that went through similar crises this time.
The success of the recovery is clear in terms of both employment and economic output. We have just completed the best two years of job growth since the 1990s and seen the fastest two-year decline in the unemployment rate since the 1980s, all while extending the longest streak of monthly job creation on record. Meanwhile, private domestic final purchases—the sum of personal consumption and business investment, the most stable and persistent components of economic output—rose 2.7 percent over the past year, reflecting our strong domestic demand.