Re:Bill Gross – Banking/finance “permanently damaged” [pdf]
by Animats on Thursday March 03, 2016 @06:46PM
(#11220957)
"I completely agree, this is a consumer economy that has been actively killing off consumer power and wondering why growth/demand is over."
Thanks. I point out this occasionally. I don't claim to have an solution. But I think I've described the problem correctly. We have insane amounts of productive capacity compared to previous generations but that doesn't push up the standard of living by much.
Too much political economic talk starts with a desired solution and tries to justify it. That isn't working.
The original article looks at this from a finance perspective. Finance is supposed to be a service function, like water supply. It's not supposed to be in charge. Especially in a capital glut.
Thanks. I point out this occasionally. I don't claim to have an solution. But I think I've described the problem correctly. We have insane amounts of productive capacity compared to previous generations but that doesn't push up the standard of living by much.
Too much political economic talk starts with a desired solution and tries to justify it. That isn't working.
The original article looks at this from a finance perspective. Finance is supposed to be a service function, like water supply. It's not supposed to be in charge. Especially in a capital glut.