AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.
Freedom of speech is not freedom from criticism.
"He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
I live in Tennessee which has about the 48th lowest tax burden and is business friendly as heck, and you drive around some once thriving rural towns and then you see the rusted out manufacturing plants and there's nothing to replace them. A lot of those counties have median incomes less than $20k. MEDIAN, so half make less than that. And there are NO counties except the ones around Nashville that do much better. So saying what you did, from the 1960s - the 2000s or so before we hollowed out our industrial core and shipped it overseas doesn't tell anyone how to make it in THIS economy. Bottom line is thanks to globalization, working people ARE competing with $1 an hour, with the kind of pollution etc. you see in China. If you have an idea how we 'compete' with that and remain a first world country, I'm all ears, but that's the kind of discussion that needs to happen, not just blame average workers for things WAY out of their control as a group.
Sure, individually, anyone can make it. But we can't assume they ALL have the intelligence, skill, drive, competence, health, etc to nor should we expect a person to be in the top 10% of all those things to have a decent life raising a family.
I'll just address that briefly - NO ONE demands equal outcomes or even close to equal. Based on what you said, you made many times the average income, and that's how it should be. All I'm suggesting is you show less contempt for those who will ALWAYS BE at the bottom, even though many of them work damn hard and just don't make much money, and never will, especially with globalization. Not everyone can be or will be in the top 1% or 10% or even 50%.What do I expect? Equal OPPORTUNITY, NOT equal outcome. Give me the opportunity and I will do the rest. that is what happened when I got my first job, 35 years later I retired from that job and operated everyone of those years like I was on a one year contract. Interesting how performance generates job security
Last edited by JasperL; 07-02-14 at 06:23 PM.