tag:blogger.com,1999:blog-8524070301101240472.post6904869726948002907..comments2023-09-28T08:13:11.489-07:00Comments on Only In It For The Gold: It's Not Your Father's RecessionMichael Tobishttp://www.blogger.com/profile/08229460438349093944noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-8524070301101240472.post-49735767672370437592011-09-05T16:38:11.294-07:002011-09-05T16:38:11.294-07:00Dan_ The wikipedia article you linked to on the &q...Dan_ The wikipedia article you linked to on the "lump of labor" fallacy begins "In economics" and then goes on to classify it as a variant on the "zero-sum fallacy."<br /><br />That's about all I needed to read to know that the rest was pure b.s. We live on one planet with no exits to other viable biospheres. Labor available is a zero-sum equation on a global scale and can approach a zero-sum equation on local scales. <br /><br />My opinion is that modern economics makes so many assumptions unsupported by fact that it might as well be phrenology or astrology. <br /><br />The <i>facts</i> are that it takes far less labor to produce basic foodstuffs, fuel, clothing and housing on a retail level than it did even twenty years ago. The lack of job growth in the last ten years clearly reflects that. Labor market participation rates are also clearly falling.Pangolinhttps://www.blogger.com/profile/18369503994505817789noreply@blogger.comtag:blogger.com,1999:blog-8524070301101240472.post-87280212216919797062011-09-05T15:38:21.502-07:002011-09-05T15:38:21.502-07:00Is the global economy a Ponzi scheme?
http://think...Is the global economy a Ponzi scheme?<br />http://thinkprogress.org/romm/2009/03/08/203784/ponzi-scheme-madoff-friedman-natural-capital-renewable-resources/David B. Bensonhttps://www.blogger.com/profile/02917182411282836875noreply@blogger.comtag:blogger.com,1999:blog-8524070301101240472.post-29153549478909694592011-09-04T19:55:40.060-07:002011-09-04T19:55:40.060-07:00No, its my children's recession.No, its my children's recession.David B. Bensonhttps://www.blogger.com/profile/02917182411282836875noreply@blogger.comtag:blogger.com,1999:blog-8524070301101240472.post-23463582500017459432011-09-04T02:52:29.143-07:002011-09-04T02:52:29.143-07:00I'm guessing you won't miss this, MT, but ...I'm guessing you won't miss this, MT, but just in case: `<a href="http://www.guardian.co.uk/world/2011/sep/04/rick-perry-economic-mirage" rel="nofollow">Miracle or mirage</a> – what's the truth about Rick Perry's Texas?'Dolhttps://www.blogger.com/profile/17110810881843699172noreply@blogger.comtag:blogger.com,1999:blog-8524070301101240472.post-46680572250060262382011-09-04T01:28:23.446-07:002011-09-04T01:28:23.446-07:00Pangolin, cf. lump of labour fallacy (though note ...Pangolin, cf. <a href="http://en.wikipedia.org/wiki/Lump_of_labour_fallacy" rel="nofollow">lump of labour fallacy</a> (though note criticism).Dolhttps://www.blogger.com/profile/17110810881843699172noreply@blogger.comtag:blogger.com,1999:blog-8524070301101240472.post-76931323236063123512011-09-03T18:20:41.099-07:002011-09-03T18:20:41.099-07:00Pangolin --- So-called automation has changed the ...<b>Pangolin</b> --- So-called automation has changed the nature of work, but I've not seen a concensus of economists who opine that it actually hs reduced the required work force. [Offshoring maybe has.]<br /><br />As many more tele-commute and with the revitalization of public transit, Seattle, for example, has fewer commuters.David B. Bensonhttps://www.blogger.com/profile/02917182411282836875noreply@blogger.comtag:blogger.com,1999:blog-8524070301101240472.post-80106352143536056312011-09-03T18:04:23.203-07:002011-09-03T18:04:23.203-07:00Automation and offshoring have destroyed a huge nu...Automation and offshoring have destroyed a huge number of jobs. It's past time we went to 32-hour weeks or job-sharing that reduces workloads on those already employed. <br /><br />France's much condemned experiment with 35 hour weeks didn't seem to bankrupt the country anymore than our 40++ hour weekly averages bankrupted us. Conversely, by many standards the French enjoy a higher standard of living and economic security than we do here. <br /><br />Finally, 32-hour, 4 day work weeks would cut fuel used for commuting by almost a fifth. Obviously, the added numbers of commuters would cut into that figure somewhat.Pangolinhttps://www.blogger.com/profile/18369503994505817789noreply@blogger.comtag:blogger.com,1999:blog-8524070301101240472.post-6194161854036774312011-09-03T13:14:59.970-07:002011-09-03T13:14:59.970-07:00Looks to me as similar to what has happened to the...Looks to me as similar to what has happened to the Japanese economy snce their real estate bubble burst.David B. Bensonhttps://www.blogger.com/profile/02917182411282836875noreply@blogger.com