tag:blogger.com,1999:blog-1110014885778996459.post4412820860775890559..comments2024-03-28T01:12:29.954-07:00Comments on Idiosyncratic Whisk: If we are the 100%, then who will be the scapegoat?Kevin Erdmannhttp://www.blogger.com/profile/07431566729667544886noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-1110014885778996459.post-64570869586588802372014-08-22T13:06:54.604-07:002014-08-22T13:06:54.604-07:00Actually, this point which you're missing is T...Actually, this point which you're missing is THE crucial analytical point.<br /><br />If CEOs worked for policies which benefitted the 99%, the CEOs would also benefit.<br /><br />But instead CEOs (mostly) work to impoverish the 99%. This hurts the CEOs in absolute terms.<br /><br />Why do they do it?<br /><br />One likely theory is that it benefits the CEOs' *relative* position -- the difference between rich and poor becomes larger, even though everyone is poorer than they would be otherwise. Psych studies show that a lot of people seem to rate their situation in terms of relative position only, not absolute position. <br /><br />Better to rule in hell than to be a middle manager in heaven? Better to be a big fish in a small pond than a medium-sized fish in a big pond? Attitudes like that seem to predominate among the CEO class.Nathanaelnoreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-84286954892699429352014-08-22T13:02:55.460-07:002014-08-22T13:02:55.460-07:00*eyeroll*.
Of course businessmen like high unempl...*eyeroll*.<br /><br />Of course businessmen like high unemployment because it makes it easy for them to lower wages and abuse workers. Adam Smith knew this! Karl Marx knew this! Most businessmen will say this EXPLICITLY! They start panicking when there's a so-called "labor shortage" (== low unemployment) and demanding that we import foreign labor!<br /><br />Jesus, get a clue, Kevin. Yes, advocating unemployment hurts the businessmen in the long term, but *they are not long term thinkers*.Nathanaelnoreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-17932533069819662882014-06-17T22:01:07.753-07:002014-06-17T22:01:07.753-07:00I don't think that businesses explicitly want ...I don't think that businesses explicitly want high unemployment, but an awful lot of businesses back policies that lead to unemployment and weak wage growth. It's the old red-state blue-state paradox. Why are businesses and people in anti-business blue states better off economically than businesses and people in pro-business red states? A lot of things that sound good to businessmen in the short run tend to have negative mid-range and long-range effects. If you are having trouble selling cars to recent college graduates, maybe you shouldn't have pushed for lower taxes and less aid to public colleges?Kaleberghttps://www.blogger.com/profile/05283840743310507878noreply@blogger.com