Interesting discussion on Slashdot - Journal of Omnifarious
Mar. 11th, 2007
07:45 pm - Interesting discussion on Slashdot
It began with this post: Re: The whacked income distribution in the US today.
And it continued on with this post: You're setting up a straw-man argument.
If you follow the thread down, I think we both had some interesting things to say. The whole thing ended (at least so far) with this post by me:
I don't think that I have to choose. I don't think that lower production and reducing incoming disparity are inextricably linked.
In fact, I think that reducing income disparity in the US right now might result in a total increase in production. This is because I suspect as much as 80% (a number I have no support for, am pulling out of thin air and may be totally wrong about) of current profits for the top 5% of corporations represents money gained from them purposely creating inefficiency in the market that they can exploit.
But, to answer your question directly, despite me thinking that it's not actually relevant to the situation, I think there's a balance to be struck. I think there needs to be some checks to make sure the rising tide really is raising all the boats. I think some small sacrifice of growth rate is reasonable to make this happen. But I think that a major sacrifice of growth rate would be highly counterproductive.
But I repeat that I think that addressing the problem in the US currently might well result in an increase in the growth rate, not a decrease. I think many large corporations use their power to distort the free market to artificially favor themselves.
Do any of you have any thoughts on this? I would actually be really curious as to what mle292 thought. I bet she would think my whole power law log/log graph idea was completely bogus.