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sidd

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Re: Economic Inequality
« Reply #300 on: March 30, 2019, 06:48:11 AM »
Go be poor somewhere else: shakytown crowdfunds effort to stop homeless shelter

https://www.theguardian.com/us-news/2019/mar/28/san-francisco-gofundme-homeless-shelter-embarcadero

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Re: Economic Inequality
« Reply #301 on: April 02, 2019, 08:43:34 PM »
Suwandi et al. review the rape of the global south: the new imperialism is based on labor arbitrage

"commodity chains can be seen as fastened at the center of the world economy, connecting production, located primarily in the global South, to final consumption and the financial coffers of monopolistic multinational firms, located primarily in the global North."

"At issue is the way in which today’s global monopolies in the center of the world economy have captured value generated by labor in the periphery within a process of unequal exchange, thus getting “more labour in exchange for less.” "

"value added, associated with such commodity chains, as we shall see, is disproportionately attributed to economic activities in the wealthier countries at the center of the system, although the bulk of the labor occurs in the poorer nations of the periphery or the global South."

"much of the immense value capture associated with the global labor arbitrage circumvents production in the center economies, at the expense of workers there who have seen their jobs offshored. This has contributed to the amassing of vast pyramids of wealth disconnected from economic growth in the center economies themselves"

"net resource transfers from developing and emerging economies to rich countries were estimated at $2 trillion in 2012 alone"

"the globalization of production is built around a vast chasm in unit labor costs between center and periphery economies, reflecting much higher rates of exploitation in the periphery. This reflects the fact that the difference in wages is greater than the difference in productivity between the global North and the global South"

"This enormous gulf between global North and global South arises from a system that allows for the free international mobility of capital, while tightly restricting the international mobility of labor."

"Although labor is still largely constrained within national borders due to immigration policies, global capital and commodities have far more freedom to move around, further heightened in recent years due to trade liberalization."

"The global labor arbitrage is made possible in part by what Marx refers to as the industrial reserve army of the unemployed—which in this case is on a global scale, thus a global reserve army of labor ... the integration of the workforce of former socialist countries (including China) and formerly heavily protectionist countries (such as India) into the global economy, with the resulting expansion of the size of both the global labor force and its reserve army.[Ref 54] Also central to the creation of this reserve army is the depeasantization of a large portion of the global periphery through the spread of agribusiness.[Ref 55] This forced movement of peasants from the land has resulted in the growth of urban slum populations"

"While competition among corporations is limited to oligopolistic rivalry, competition among workers of the world (especially those in the global South) is greatly intensified by increasing the relative surplus population. This divide-and-rule strategy serves to integrate “disparate labor surpluses, ensuring a constant and growing supply of recruits to the global reserve army” who are “made less recalcitrant by insecure employment and the continual threat of unemployment."

"labor values generated by production are “captured” and not registered as arising in the peripheral countries due to asymmetries in power relations, in which multinational corporations are the key conduits"

"an enormous gross markup on labor costs (rate of surplus value) amounting to superexploitation, both in the relative sense of above-average rates of exploitation and also, frequently, in the absolute sense of workers paid less than the cost of the reproduction of their labor power. "

Long, but worth reading:

https://monthlyreview.org/2019/03/01/global-commodity-chains-and-the-new-imperialism/

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sidd

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Re: Economic Inequality
« Reply #302 on: April 02, 2019, 08:52:38 PM »
Simon interviews Hudson on the origins of debt slavery and jubilee:

Simon: " the Greeks and the Romans learned about interest-bearing debt from their contacts with Middle Eastern civilizations, but tragically failed to institute programs of Clean Slate debt amnesty. Their failure has been a kind of albatross around the neck of Western economies ever since."

Hudson: " Liberty for them was the liberty to destroy that of the population at large. Instead of cancelling debts and restoring land tenure to the population, the oligarchy created the Senate that protected the right of creditors to enslave labor and seize public as well as private lands (just as had occurred in Athens before Solon). Instead of restoring a status quo ante of free cultivators — free of debt and tax obligations, as Sumerian amargi and Babylonian misharumand andurarum meant — the Roman oligarchy accused anyone of supporting debtor rights and opposing its land grabs of “seeking kingship.” Such men were murdered, century after century."

Hudson: "Rome was turned into an oligarchy, an autocracy of the senatorial families. Their “liberty” was an early example of Orwellian Doublethink. It was to destroy everybody else’s liberty so they could grab whatever they could, enslave the debtors and create the polarized society that Rome became."

Hudson: "Once there were no more kingdoms for Rome to destroy, it collapsed from within. It was basically a looting economy. And it didn’t do more than the British colonialists did: It only scratched the surface. It didn’t put in place the means of production that would create enough money for them to grow productively. Essentially, Rome was a financial rentier state."

Hudson: " debt cancellations were not a diffusionist policy from the East, but a spontaneous pragmatic response such as was being widely advocated as far west as Rome"

Hudson: "We see a balance of forces in the ancient Near East, thanks to the fact that its rulers had authority to cancel debt and restore land that wealthy individuals had taken from smallholders. These kings were powerful enough to prevent the rise of oligarchies that would reduce the population to debt peonage and bondage (and in the process, deprive the palace of revenue and corvée labor, and even the military service of debtors owing their labor to their private creditors). We don’t have any similar protection in today’s Western Civilization. That’s what separates Western Civilization from the earlier Near Eastern stage. Modern financialized civilization has stripped away the power to prevent a land-grabbing creditor oligarchy from controlling society and its laws."

Hudson: "What they call a “free market” is an unmixed monolithic, centrally planned financialized economy with freedom for the oligarchy to impoverish the rest of society. That was achieved by landlordism monopolizing the land in feudal Europe, and it is done by finance today."

I shall have to read Hudson's book. This interview is at

https://www.nakedcapitalism.com/2019/04/the-delphic-oracle-was-their-davos-a-four-part-interview-with-michael-hudson-about-his-forthcoming-book-the-collapse-of-antiquity-part-1.html

sidd

sidd

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Re: Economic Inequality
« Reply #303 on: April 05, 2019, 10:11:14 PM »
Rich white people want the homeless to go die quietly out of sight:

" “The optics on this are stunning. You have very affluent land owners who are fighting against impoverished San Franciscans whose very lives are at risk because of the housing crisis,” she says. “And who are we talking about? Who is homeless? Primarily people of color, primarily folks who have disabilities or who are elderly people. To equate an entire class of people with crime is the foundation of prejudice.” "

https://www.theguardian.com/us-news/2019/apr/04/san-francisco-mayor-clashes-with-affluent-residents-homeless-shelter

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sidd

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Re: Economic Inequality
« Reply #304 on: April 05, 2019, 10:13:30 PM »
UK cuts welfare while increasing tax breaks for the rich:

"on average, households in the fourth and fifth income quintiles (the top 40%) receive more in tax relief than households in the poorest fifth get in means-tested benefits."

https://www.theguardian.com/inequality/2019/apr/05/government-accused-of-promoting-inequality-by-stealth

Meanwhile the rich wonder why Brexit happened.

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sidd

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Re: Economic Inequality
« Reply #305 on: April 18, 2019, 09:27:41 PM »
Serfdom blues in merrie olde englande:

" about 25,000 landowners – typically members of the aristocracy and corporations – have control of half of the country."

“A few thousand dukes, baronets and country squires own far more land than all of middle England put together.”

" one effect of the sale of public land was that the public lost democratic control of that land and it could not then be used, for example, for housing or environmental improvements."

https://www.theguardian.com/money/2019/apr/17/who-owns-england-thousand-secret-landowners-author

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Re: Economic Inequality
« Reply #306 on: April 27, 2019, 08:27:29 PM »
Global warming may boost economic inequality
By Warren CornwallApr. 22, 2019 , 3:40 PM
"Over the past half-century, climate change has been blamed for heat waves, flooding, and rising seas. Now, researchers say warmer temperatures are widening the chasm separating richer and poorer countries, effectively boosting the economies of many wealthy polluters while dampening growth in much of the developing world. As a result, inequality between the haves and have-nots is already 25% greater than it would be in a cooler world, the paper asserts.
Though he disagrees about the numbers, University of California, Berkeley, economist Solomon Hsiang says the paper provides clear evidence that climate change has stunted economies in the developing world. “The study’s statement that warming should have already harmed economic opportunities in poor countries is extremely important,” he wrote in an email.
The new work builds on previous research that found economic activity peaks at an average temperature of 13°C. Call it a “Goldilocks” condition that’s neither too hot nor too cold. Lower temperatures can hamper weather-dependent sectors like agriculture, but hotter temperatures can wither crops, sap workers’ energy, and exacerbate social conflicts. That study found that climate change could reduce overall global economic output by 23% by 2100."

https://www.sciencemag.org/news/2019/04/global-warming-may-boost-economic-inequality


sidd

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Re: Economic Inequality
« Reply #307 on: April 30, 2019, 10:27:02 PM »
Starve the poor:

"Stephen Smith, 64, died in an emaciated state "

" his weight had dropped to six stones (84 lbs./38 kgs.)"

"Smith failed a DWP Work Capability Assessment (WCA) "

"more than £4,000 awarded in back payments for benefits denied ... will be used to pay for his funeral."

https://www.wsws.org/en/articles/2019/04/30/step-a30.html

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magnamentis

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Re: Economic Inequality
« Reply #308 on: April 30, 2019, 10:54:38 PM »
some will probably like it ;)
http://magnamentis.com
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sidd

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Re: Economic Inequality
« Reply #309 on: May 06, 2019, 11:42:00 PM »
Health insurance and the lack thereof: murder-suicide as terminal care plan

"a man called 911 to report that he had shot his wife and was prepared to take his own life. "

"  after the wife had surgery eight months ago, her health began declining rapidly and she developed several health conditions, including dementia."

"The medical bills were piling up, and neighbors told News4Jax that John Thombleson had said their insurance was expiring, leaving them no way to pay for the mounting expenses. "

"The couple were high school sweethearts and had been married 47 years. "

"the last time he spoke with John Thombleson, the conversation was about the couple potentially losing their home because of their mounting medical bills. "

https://www.news4jax.com/news/local/jacksonville/family-husband-kills-wife-then-himself-in-mercy-shooting-

I know more than one person without insurance who have flat out told me their plan is a fifth of whisky and a firearm. I knew two people who took the suicide way out. Late stage capitalism at its finest.

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b_lumenkraft

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Re: Economic Inequality
« Reply #310 on: May 07, 2019, 06:41:26 AM »
This is not a function of capitalism. Other capitalist countries have universal healthcare.

This is due to a two right-wing parties system.

sidd

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Re: Economic Inequality
« Reply #311 on: May 07, 2019, 07:34:42 AM »
Re: "health care not a function of capitalism"

Well, would the formulation "late stage capitalism which has captured the regulators" satisfy ?

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Re: Economic Inequality
« Reply #312 on: May 07, 2019, 07:43:18 AM »
The US had a lag of universal health care even before Reagan and the neoliberal revolution, right Sidd?

sidd

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Re: Economic Inequality
« Reply #313 on: May 07, 2019, 09:13:52 AM »
It started going downhill in the late seventies, when gutting of defined benefit plans began. Really took off under reagan.

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Re: Economic Inequality
« Reply #314 on: May 10, 2019, 01:33:26 AM »
Suicide as exit:

"An 81-year-old woman killed herself after running out of money when her pension was frozen due to an administrative error."

"The DWP told Mr Worrall that her basic pension should have continued "

"A DWP spokesman said: “Our thoughts are with the family and friends ... We apologise unreservedly ..." "

https://www.theguardian.com/uk-news/2019/may/09/woman-81-killed-herself-after-pension-was-frozen-in-error

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sidd

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Re: Economic Inequality
« Reply #315 on: May 10, 2019, 01:35:33 AM »
Too sick to work ? Pay for your substitute

"On top of footing medical bills, she has to pay for a substitute teacher ..."

"Under a 1976 California law, the cost for the substitute teacher will be deducted from the teacher's salary. "

https://www.cnn.com/2019/05/09/health/teacher-breast-cancer-substitute-pay-trnd/index.html

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Re: Economic Inequality
« Reply #316 on: May 10, 2019, 03:26:23 AM »
Trump Administration Considering Changes That Would Redefine The Poverty Line
https://www.npr.org/2019/05/09/721559472/trump-administration-considering-changes-that-would-redefine-the-poverty-line

The Trump administration is considering changing the way the government measures poverty, which has anti-poverty groups worried that many low-income individuals will be pushed off assistance programs such as food stamps, Medicaid and Head Start.

The possible change would involve adjusting the poverty line annually using a different inflation measure, one that would result in a slower increase over time.

"They have a goal, and the goal is to cut people of low or moderate income off of government assistance," Sherman said of the administration. He noted that the idea is being floated at the same time that the White House is proposing work requirements and steep budget cuts for safety net programs 
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Re: Economic Inequality
« Reply #317 on: May 10, 2019, 11:11:13 AM »
Remember the 'good old days' of Share Croppers in the south? Some people see a thriving opportunity for Tesla to move into Ridesharing and Robotaxis .... as Uber hits it's IPO and Lyft coming soon.

Moral of the Story - DO NOT believe everything you are told by Corporate Giants and Know-it-Alls
There are all kinds of variations how Uber and others in the Gig Economy are operating in the world from nation to nation. Such as no Uber in France. Here's another example

Delivery rider wins unfair dismissal case against Foodora
They said he was an "independent contractor" the Courts disagreed.
https://www.abc.net.au/radio/programs/am/delivery-rider-wins-unfair-dismissal-case-against-foodora/10507354

The very same day this happened ...
Foodora enters into administration despite claims it was 'solvent'
Owing ~$8 million to riders and $ millions more to the Tax Office
https://www.abc.net.au/news/2018-08-17/foodora-enters-into-administration/10133620

Then comes today - Global Legal Precedent Set against Gig Economy Operators

Ex-Foodora riders will get $2.27m payout
Nearly 1700 former Foodora delivery riders will receive a total of $2.27 million in back-pay, the Transport Workers Union says.

Unfortunately another ~5,000 riders didn't bother to apply under the Class Action - so Foodora (and the Administrators of) got away with Highway Robbery
https://www.news.com.au/national/breaking-news/exfoodora-riders-will-get-227m-payout/news-story/3caf5f146919e9c05043ec3714a67d97

AUDIO analysis - Food delivery riders have win back-payments from Foodora, setting gig economy precedent
https://www.abc.net.au/radio/programs/pm/food-delivery-riders-have-win-back-payments-from-foodora/11102612


Foodora owes $8 million to former delivery workers
The failed food delivery company owes nearly $8 million in unpaid wages and superannuation, but its former workers will only get back a small fraction of that in their wallets.

Foodora unable to repay Australian debts, as it owes $28m 'loan' to German parent company
Foodora went into administration owing unpaid wages and superannuation, penalties and interest in Australia — and $28.3 million in "loans" to its German parent company Delivery Hero.

seancoulter

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Re: Economic Inequality
« Reply #318 on: May 10, 2019, 03:39:01 PM »
Global warming may boost economic inequality
By Warren CornwallApr. 22, 2019 , 3:40 PM
"Over the past half-century, climate change has been blamed for heat waves, flooding, and rising seas. Now, researchers say warmer temperatures are widening the chasm separating richer and poorer countries, effectively boosting the economies of many wealthy polluters while dampening growth in much of the developing world. As a result, inequality between the haves and have-nots is already 25% greater than it would be in a cooler world, the paper asserts.
Though he disagrees about the numbers, University of California, Berkeley, economist Solomon Hsiang says the paper provides clear evidence that climate change has stunted economies in the developing world. “The study’s statement that warming should have already harmed economic opportunities in poor countries is extremely important,” he wrote in an email.
The new work builds on previous research that found economic activity peaks at an average temperature of 13°C. Call it a “Goldilocks” condition that’s neither too hot nor too cold. Lower temperatures can hamper weather-dependent sectors like agriculture, but hotter temperatures can wither crops, sap workers’ energy, and exacerbate social conflicts. That study found that climate change could reduce overall global economic output by 23% by 2100."

Visit this link https://au.edubirdie.com/case-study-help to find different case studies on this crucial matter. People should learn about the consequences of such things so they can be well prepared.
Global warming will boost not only economic inequality but also a mass migration from poor regions like Africa to Europe. From my point, it will cause serious problems due to rising nationalism in some countries in Europe.
« Last Edit: May 15, 2019, 09:09:37 AM by seancoulter »

sidd

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Re: Economic Inequality
« Reply #319 on: May 11, 2019, 09:11:48 AM »
Hang around outside the emergency room forawhile. It might save you some money. Or you might die. Or your kid.

https://www.vox.com/health-care/2019/5/10/18526696/health-care-costs-er-emergency-room

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Re: Economic Inequality
« Reply #320 on: May 11, 2019, 02:36:27 PM »
Global warming may boost economic inequality
By Warren CornwallApr. 22, 2019 , 3:40 PM
That study found that climate change could reduce overall global economic output by 23% by 2100."

https://www.sciencemag.org/news/2019/04/global-warming-may-boost-economic-inequality
Global warming will boost not only economic inequality but also a mass migration from poor regions like Africa to Europe. From my point, it will cause serious problems due to rising nationalism in some countries in Europe.

Economic inequality tends to be greatest during boom times, when wealth is abundant, just look at the recent expansion since the last downturn.  Recessions tend to be an equalizer.  Mass migration tends to minimize inequality, as migrants seek better jobs.  I doubt you are trying to say that global warming will lead to an economic boom.

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Re: Economic Inequality
« Reply #321 on: May 11, 2019, 03:26:45 PM »
Economic inequality tends to be greatest during boom times, when wealth is abundant, just look at the recent expansion since the last downturn.  Recessions tend to be an equalizer.  Mass migration tends to minimize inequality, as migrants seek better jobs.  I doubt you are trying to say that global warming will lead to an economic boom.

These are extraordinary claims, needing extraordinary evidence.

Counterevidence would be >> "Results suggest that income inequality before the crisis potentially contributed to a severer output drops during the crisis of 2007-2008. The effect of the overall population inequality (Gini index) has been found severer than the one of the top 1% earners’ income share." Link >> https://mpra.ub.uni-muenchen.de/87739/1/MPRA_paper_87739.pdf

Economics would argue inequality is casing recessions.

Why economic inequality leads to collapse Link >> https://www.theguardian.com/business/2012/feb/05/inequality-leads-to-economic-collapse

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Re: Economic Inequality
« Reply #322 on: May 12, 2019, 06:08:56 AM »
Economic inequality tends to be greatest during boom times, when wealth is abundant, just look at the recent expansion since the last downturn.  Recessions tend to be an equalizer.  Mass migration tends to minimize inequality, as migrants seek better jobs.  I doubt you are trying to say that global warming will lead to an economic boom.

These are extraordinary claims, needing extraordinary evidence.

Counterevidence would be >> "Results suggest that income inequality before the crisis potentially contributed to a severer output drops during the crisis of 2007-2008. The effect of the overall population inequality (Gini index) has been found severer than the one of the top 1% earners’ income share." Link >> https://mpra.ub.uni-muenchen.de/87739/1/MPRA_paper_87739.pdf

Economics would argue inequality is casing recessions.

Why economic inequality leads to collapse Link >> https://www.theguardian.com/business/2012/feb/05/inequality-leads-to-economic-collapse

It is not rocket science.  The highest earnings have the greatest exposure to the market, in both investments and bonuses.  Check out the graph about inequality before and after recessions.

http://charleshughsmith.blogspot.com/2014/04/want-to-fix-incomewealth-inequality.html?m=1

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Re: Economic Inequality
« Reply #323 on: May 12, 2019, 08:11:20 AM »
Kat, this graph shows nothing of that sort. This is not evidence for your claim.

Quote
This chart shows how access to the Fed's free-money spigot causes the very top layer of owners of capital to outpace their less-wealthy peers:

Are you trolling me?

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Re: Economic Inequality
« Reply #324 on: May 12, 2019, 03:07:59 PM »
Kat, this graph shows nothing of that sort. This is not evidence for your claim.

Quote
This chart shows how access to the Fed's free-money spigot causes the very top layer of owners of capital to outpace their less-wealthy peers:

Are you trolling me?

Trolling?  Are you kidding me?  Yes, it did show how the outpaced their wealthy peers during economic boom times. But is also showed how their income dropped much more dramatically during recessions.  This is not an extraordinary claim, as it can be confirmed in all the data.

b_lumenkraft

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Re: Economic Inequality
« Reply #325 on: May 12, 2019, 03:33:16 PM »
Kat, when a billionaire has stocks (and this is pretty common for people like that) and the recession kicks in, the stock market would go down, so would the wealth and income of said person. This is what you see in this graph. It has nothing to do with inequality.

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Re: Economic Inequality
« Reply #326 on: May 13, 2019, 12:17:34 AM »
Kat, when a billionaire has stocks (and this is pretty common for people like that) and the recession kicks in, the stock market would go down, so would the wealth and income of said person. This is what you see in this graph. It has nothing to do with inequality.

So, the billionaires dividends, stock bonuses, and investments do not count towards their income?

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Re: Economic Inequality
« Reply #327 on: May 13, 2019, 07:36:27 AM »
No, because after the recession is over their wealth is reinstalled (as you can clearly see in the graph). They are economically in a position to wait it out.

Klondike Kat

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Re: Economic Inequality
« Reply #328 on: May 13, 2019, 03:17:45 PM »
No, because after the recession is over their wealth is reinstalled (as you can clearly see in the graph). They are economically in a position to wait it out.

Yes, it is reinstalled.  However, that is largely because the economy rebounded.  Should the economy continue to tank, the graph indicates that their wealth will follow suit.  Hence, a falling economy would hit their purse strings harder, leading to diminished inequality.

sidd

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Re: Economic Inequality
« Reply #329 on: May 14, 2019, 11:52:39 PM »
Poor and sick ? Can't pay medical bills ? Lawsuit in your future.

"Johns Hopkins Hospital has a shocking record of hounding low income patients for medical debt"

" filed more than 2,400 lawsuits in Maryland courts seeking payment of alleged medical debt"

"For Hopkins, the payoff is minor, but for the families they target the consequences can be devastating"

"of the top 10 zip codes where Hopkins medical debt defendants reside, nine are located in Baltimore, including many in neighborhoods adjacent to the hospital with high levels of poverty."

"Hopkins is a not-for-profit institution that receives tens of millions annually in federal, state, and local tax breaks. In return for subsidies and tax breaks, Johns Hopkins is required to provide charity care or discounted care to low-income patients who lack insurance, or who lack enough insurance to cover their out-of-pocket expenses. "

"In 2018, medical debt sought by Hopkins in court accounted for less than one-tenth of 1 percent of Hopkins’ operating revenue."

"In 2017 alone Johns Hopkins received $164.4 million in tax exemptions and $25 million in rate support to provide charity care, $3.3 million of which was in excess of actual charity care provided."

"Hopkins’ excess charity care funds from 2017 alone could have forgiven nearly all of the $3.4 million sought in medical debt cases filed by Hopkins in Maryland courts from 2015 to 2018."

https://www.commondreams.org/newswire/2019/05/14/new-report-johns-hopkins-hounding-thousands-patients-medical-debt-lawsuits

Don't need the money, but screw the poor anyway. It's the principle of the thing, you see, the market must be seen to be supreme. Debts must be paid, especially if the poor are the debtors. The rich paying their debts ? You got to be kidding.

sidd