Re:U.S. Jobless Rate May Soar to 30%, Fed’s Bullard Says
by _bxg1 on Sunday March 22, 2020 @08:16PM
(#22660076)
I definitely believe that the wealth exists right now for everyone to do just fine without these months of productivity. If only it were distributed correctly.
But that's the problem: our economic system has to be a system, and arbitrary exceptions have to be... er... the exception, not the norm. What's hard (though not nearly as hard as certain politicians would tell you) is creating a system that allows for both proper creation and distribution of wealth, and works in all cases. The right-wing tends to write off the second objective as intractable (not always in good faith) and focuses on the first one. The left-wing tends to neglect the third objective (being systematic/working in all cases).
Think of it this way: it's easy to write a piece of code that does one exact thing. It's hard to create a system of code that does the right thing in all possible cases, including ones you haven't thought about.
All of that said: we have plenty of resources and ingenuity to solve this problem and build that system. We're just hampered by some incompetent actors and by other bad-faith actors who don't want it to exist because they benefit from the one that we have.
But that's the problem: our economic system has to be a system, and arbitrary exceptions have to be... er... the exception, not the norm. What's hard (though not nearly as hard as certain politicians would tell you) is creating a system that allows for both proper creation and distribution of wealth, and works in all cases. The right-wing tends to write off the second objective as intractable (not always in good faith) and focuses on the first one. The left-wing tends to neglect the third objective (being systematic/working in all cases).
Think of it this way: it's easy to write a piece of code that does one exact thing. It's hard to create a system of code that does the right thing in all possible cases, including ones you haven't thought about.
All of that said: we have plenty of resources and ingenuity to solve this problem and build that system. We're just hampered by some incompetent actors and by other bad-faith actors who don't want it to exist because they benefit from the one that we have.