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View Poll Results: Greatest barrier to the economy?

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  • Corporate greed

    0 0%
  • Income inequality

    3 100.00%
  • Government regulations

    0 0%
  • Lousy infrastructure

    0 0%
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Thread: What's the single greatest barrier affecting economic growth?1071 days old

  1. #1
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    Plant of Life = Biological Magic 麻 EliasAlucard's Avatar
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    Default What's the single greatest barrier affecting economic growth?

    Please post why you think so, not what you voted (which can be seen in the poll anyway).
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    Quoted for truth:
    Quote Originally Posted by Alaron View Post
    Anatolian Urhemait supporters are mostly butthurt Meds.
    For the lulz:
    Quote Originally Posted by drgs View Post
    Poland is a misunderstanding. It is a country which lies on the frontier between western and slavic world, and which combines elements of both.
    In fact, they are not even the Europeans in strict sense, meaning European as in bearing the responsibility and understanding of European interests. Poland has always been an subordinate country, on one side sucking German dick, on the other side -- Russian one, some kind of "novice" europeans, who are full of inferiority complexes, hysteria and obsessity neuroses. This is also true for all Baltic countries

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    Quote Originally Posted by EliasAlucard View Post
    Please post why you think so, not what you voted (which can be seen in the poll anyway).
    Hard to say. There are different factors. The reason Finland is doing poorly is not the same as the reason Greece is doing poorly.
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    Corporate greed, income inequality, and lousy infrastructure are all causes.

    But lousy infrastructure and income inequality are both effects of corporate greed.

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    It's a combination of many things. But out of those options, I'd go with income inequality. It's much better for the economy to have money being circulated around instead of in the hands of just a few thousand people out of millions.

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    Quote Originally Posted by Janos View Post
    Hard to say. There are different factors. The reason Finland is doing poorly is not the same as the reason Greece is doing poorly.
    Finland is doing poorly these days? Last I checked they were doing fine.

    Anyway, this is not a Finland thread, lol. I think it depends on all sorts of factors of course, and I'm not sure it can be pinpointed to one particular thing, but a bad government is obviously a major problem for economic growth. Government is basically the root of the problem, so I think I'll have to go with that. But on the other hand, crappy infrastructure (or lack thereof for that matter), is also a major hurdle.

    - - - Updated - - -

    Quote Originally Posted by DragonRouge View Post
    But lousy infrastructure and income inequality are both effects of corporate greed.
    Interesting, haven't thought of that. Could you elaborate how exactly?
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    “A wise man makes his own decisions; an ignorant man follows public opinion.” ― Chinese proverb

    “Every decent man is ashamed of the government he lives under.” ― H. L. Mencken

    “The only good is knowledge and the only evil is ignorance.” ― Socrates

    “Damnant quod non intelligunt.” ― Latin proverb

    Quoted for truth:
    Quote Originally Posted by Alaron View Post
    Anatolian Urhemait supporters are mostly butthurt Meds.
    For the lulz:
    Quote Originally Posted by drgs View Post
    Poland is a misunderstanding. It is a country which lies on the frontier between western and slavic world, and which combines elements of both.
    In fact, they are not even the Europeans in strict sense, meaning European as in bearing the responsibility and understanding of European interests. Poland has always been an subordinate country, on one side sucking German dick, on the other side -- Russian one, some kind of "novice" europeans, who are full of inferiority complexes, hysteria and obsessity neuroses. This is also true for all Baltic countries

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    Quote Originally Posted by EliasAlucard View Post
    Finland is doing poorly these days? Last I checked they were doing fine.
    Well, they will start to recover from their crisis. They have as all people who read news knows had recession for the latest years, but not even their crisis is endless (Sweden had a similar crisis in 1991-94). They are not as bad as Greece or Russia. But they are probably still doing worse than USA, which has had good growth.
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    Quote Originally Posted by EliasAlucard View Post
    Finland is doing poorly these days? Last I checked they were doing fine.

    Anyway, this is not a Finland thread, lol. I think it depends on all sorts of factors of course, and I'm not sure it can be pinpointed to one particular thing, but a bad government is obviously a major problem for economic growth. Government is basically the root of the problem, so I think I'll have to go with that. But on the other hand, crappy infrastructure (or lack thereof for that matter), is also a major hurdle.

    - - - Updated - - -

    Interesting, haven't thought of that. Could you elaborate how exactly?
    Corporate greed is what keeps politicians in the pockets of corporations in order to keep wages low, bust unions and other worker protections, and not invest in infrastructure improvements... and also relax government regulations, another thing on your list, but they don't negatively affect the economy unless they are done to extremes, but the corporations and politicians they pay off would lead you to believe otherwise.

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    Since the financial crash, the U.S. has recovered better on paper than Europe. But if you look at the per capita improvement, it hasn't performed better at all.

    Virtually all post-crash growth in the U.S. has been driven by demographics. Europe and Japan aren't doing worse than the U.S.

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    Quote Originally Posted by Ether View Post
    Since the 2008-2009 crash, the U.S. has recovered better on paper than Europe. But if you look at the per capita improvement, it hasn't performed better at all. Virtual all post-crash growth in the U.S. has been driven by demographics.

    Europe and Japan aren't doing worse than the U.S.
    In the US, the middle class is now the minority of the population. For the first time since WWII.

    Europe and Japan are not near as bad on that front.

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    Low trust. Trust is required in order to partake in and enforce contractualism, which facilitates exchange, which incentivizes production, creating prosperity. Although low trust isn't the only impediment to economic growth, I think it's the single most important factor. A classic example of how low trust harms the economy is civil war; legal institutions can't be relied upon anymore and oligarchs/warlords with private armies may emerge and loot the resources of the state and civil society. Supplies cease to meet demands because of risk, making kinship and connections more important for survival.
    Trust is complex. Nations, groups and individuals are unequally predisposed toward high trust, a quality that may have several component variables such as altruism, proneness to aggression, time preference, IQ and so on - which probably makes it a hard thing to measure, however, I'm pretty sure there's a good correlation between trust and IQ. It's easier for intelligent people to assess the rationality of mutual trust. As such, trust can also be cultivated and actively pursued as a form of self or non-self domestication. Child rearing and religious (moral) indoctrination would be examples of this.

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