April425
Posts: 30
Joined: 9/8/2011 Status: offline
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DarkStephen: quote:
This is a new phase of the economy. It used to be that the middle class was necessary as a consumer class, to buy goods and services, and that people got wealthy from selling to them. Now, it seems like there is a shift towards making money from the have-nots. Needless to say, if the economy can run without a need for a middle class, decision makers will grant it less concern... Sure, like Ford's great innovation in making sure cars were affordable so that people could actually buy them ensuring demand. I agree w/ what you've said and it actually worries me. With a diminishing middle class and more robber barons like Conrad Black, Murdoch get a light slap for their crimes against others and financial white-collar crimes, or even how Microsoft, et alii, weighed the cost of settling lawsuits was outweighed by profit - how are we not gonna wind up like vassals at some point? When i consider that the ancient Assyrian civilization was around for thousands of years, before being decimated and the U.S., w/ barely a couple of centuries under our belt, are far too short-sighted to see what might bring about our demise. A disappearing middle class is like an arrow to the heart of the so-called "American Dream." So much for nostalgia, but you posit the more pressing concern, is *can* the economy run w/out a middle class? I am trying to imagine what that world would look like. And don't DMs already grant it less concern? I keep hearing statistics about China (which can be argued in endless ways, of course), and this behemoth's potential to affect world economies, in the way we once worried about Japan's financial dominance. I was also creeped out by the China scandal over melamine in baby food ingredients. And why we can't even enforce the regulations we already have, and how we can't even expect financial institutions not to behave like hyenas and eat their young. Or our young. Our children's children. That said, people still have the ability to innovate and create and renew... still... God, I've worked myself into a lather, how am I ever going to get to sleep now? ... -s-
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